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npr:

Weekly jobless claims hit nearly 3.3 million last week, the Labor Department reported Thursday. That’s staggering when you consider that at the height of the Great Recession, initial claims topped out at just shy of 700,000.

The CARES Act (short for Coronavirus Aid, Relief, and Economic Security Act) that the Senate passed Wednesday night is set to provide $2 trillion in economic aid as the nation braces for this massive economic blow.

“Nobody thinks legislation can end this. We cannot outlaw the virus. And no economic policy can fully end the hardship so long as the public health requires that we put so much of our commerce on ice,” said Senate Majority Leader Mitch McConnell on Wednesday. “This isn’t even a stimulus package. It is emergency relief.”

Reblogged 3 years ago from npr
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Source: NPR
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