WASHINGTON, D.C. (NBC) – Over three million jobless claims were filed last week, more than five times the previous high. Employees who were once thriving are now filing for unemployment, hoping the money will bridge the gap between now and when life returns to what will likely be the new normal.
Some help is on the way for those hit hard by the coronavirus with 2.2 trillion dollars divvied up between different sectors of society.
Massage therapist Kaleigh Herold was furloughed after her employer closed its doors almost two weeks ago.
Herold has filed for benefits and is waiting for her cut of the stimulus money. She said she needs to pay her bills. They’re bills that keep coming for individuals and businesses despite the nationwide shutdown
Johnny C. Taylor Jr. is the president & CEO of Society for Resource Management. He said, “There will be some businesses that don’t return from this. It’s just too big of a financial blow. But the overwhelming majority of businesses will come back as consumer demand returns.”
There will be demand for employees, like 19-year old Jake Ruggles, who worked for Pro Motor Engines the last 3 years. He said, “As soon as NASCAR starts racing again, I can go back to work.”
Ruggles credits his employer for trying to stay open for as long as it did. “Thought I would have a fun summer, making some money at a job, a very secure job,” Ruggles said. “But it’s okay. Just kind of go back to the drawing board for now.”
Taylor said, “We fully expect there will be a resurgence of employment, whether it will rise to the same levels we had pre-COVID — 3.5% unemployment — who knows?”
The one thing we do know is the road back to where we were just months ago is going to be a long one.
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