Unemployment rates rise

Mariah Arviso, Reporter

The national unemployment rate rose to 10 percent, as of March 19, due to the amount of layoffs caused by COVID-19 pandemic. 

Unemployment rates have not been this high since the great recession period in 2009. It was found that within 90 days, the unemployment rate will rise to 14 percent according to the Center for Business and Economic Research at Ball State University. The government was in the process of looking for a solution to prevent an economic downfall. 

As of March 19, new claims for unemployment benefits have since skyrocketed to 281,000 claims within the last few weeks. The highest recorded number of claims made was in 2007 with a total of 299,000. 

According to the National Press Radio, “many unemployment claim websites had crashed with so many people trying to file at the same time.” 

The virus is expected to cause the rates of unemployment to rise as more businesses are closing due the pandemic. Although some people are able to work from home, most of the people that lost their jobs were in the food service industry, warehouse employees, and transport drivers. Most restaurants that closed, were the main source of the unemployment rates rising.  

Within 90 days of social distancing, 21 million people are said to be unemployed nationally according to Ball State University. The senate released a one trillion-dollar economic stimulus bill on March 19 in order to control the economic fallout caused by the virus. If the bill is passed, it will give aid to the American people and businesses suffering financially.   

According to CNN, Mitch McConnell described the bill as “‘direct relief for the American people… and small businesses [as well as a] significant step to stabilize the economy and protect our jobs’.” 

Most of the aid will go to small businesses, health care employees and resources, as well as unemployed American individuals. This bill was quickly developed so that the high rates of unemployment will not affect the economy drastically.  

There are many resources that the American public can go to in order to fill for unemployment benefits. The government advised that the public stay patient in these times of need.