Unemployment claims surge in Vermont, New Hampshire
More than 6 million Americans filed for unemployment benefits last week in the largest string of job losses since 1948. And our region is seeing the same trend.
In Vermont alone, more than 22,000 people filed new claims last week. In the same week last year, there were just over 500 claims.
The week before, the Labor Department processed about 15,000 claims.
And more than 16,000 initial claims have been processed
In total, more than 71,000 Vermonters have filed for unemployment since March 15.
The Vermont Department of Labor says its launching a new plan on Thursday to help the massive influx of people.
In New Hampshire last week, more than 36,000 claims were filed.
That's up nearly 5,000 from the week before.
Officials there have seen more claims in the last three weeks than in the last three years.
Nationwide, about one in 10 workers have lost their jobs in the past three weeks as businesses shut down amid the coronavirus pandemic.
And more than 20 million Americans may lose their jobs this month.
The Federal Reserve is now taking steps to provide more than $2 trillion in loans to support the economy. The money will go to households, businesses and local governments.