The New Unemployment Wave and What Should We Do? | WHAT REALLY HAPPENED

The New Unemployment Wave and What Should We Do?

US is on the list of the countries that has been effected the most in this Coronavirus Pandemic. The sudden jump in the rate of unemployment and insufficient unemployment funds leading to the global recession.

Mass layoffs and health crisis not only dent the economy but also have severe psychological and financial impacts on the unemployed workers.

Government jobless benefits are turning out to be inadequate as more and more people are filing for unemployment.

According to the labor department report, 3.8 million people filed for unemployment insurance in the last week of April that takes the tally to 30.3 million unemployment claims in six weeks. Almost twenty percent people who had jobs in February shift their status to unemployed.

Half of the American have either lost their jobs or faced reduction in their work hours.

The most economically effected are younger people without college degree and those who perform odd jobs.

US consumer spending fell 7.5% in March, which is the immersing decline since 1959. The major threats are for tenants who are on verge to become homeless as they are struggling to survive the second month of pandemic.

All in all, the situation is not good and does not seem to get better any sooner.

What to do?

The only sector flourishing in this crisis is the ecommerce sector and online businesses. The ecommerce merchants have witnessed 48.5% jump in the sales in April from March. Moreover, 43% ecommerce storeowners said to achieve higher sales in lockdown.

Apart from online sellers, many people are earning online by just performing minial tasks and making good money. UserTesting is a platform where people earn by navigating different websites people are making upto $60 in for an hour from this platform.

Similar to this platform, there are multiple ways to make money online that are absolutely free.

So, anyone is who struggling in this pandemic start searching for easiest way to make money online and save yourself from the curse of unemployment.