President Donald Trump has been criticized by some health experts fearing that he might be pushing to reopen the country for business too soon. But the economic cost of various lockdown is now being felt by the Trump administration as tens of millions of Americans have joined the ranks of the unemployed and the list keeps getting longer with each passing day.
The Department of Labor reported on Thursday that another 3.2 million Americans filed initial jobless claims last week, according to CNN. The figure is already adjusted after factoring seasonal hiring fluctuations.
Since mid-March, when the national lockdown started, total initial jobless claims soared to 33.5 million. This means that 1 in 5 of Americans has filed for first-time unemployment benefits, the effect of coronavirus-related restrictions in place to slow down the virus’ spread.
This could mean that more Americans could be losing their jobs if things continue as they are. According to CNN, there are signs that “what first looked like temporary job cuts could turn into permanent layoffs. With virtually no revenues coming in, big companies such as United Airlines, Airbnb, and GE announced job cuts this week affecting thousands of workers.
Trump acknowledged on Wednesday that the severity of the coronavirus pandemic was worse the previously anticipated. “We went through the worst attack we've ever had on our country," he said, CNN reported.
“This is really the worst attack we've ever had,” Donald Trump added. “This is worse than Pearl Harbor. This is worse than the World Trade Center.”
During his three years as the President, the economy has been one area that Trump generally enjoyed support. However, the U.S. economy shattered by the pandemic during his term might be perceived negatively by voters and potentially affect his reelection plans.
The President promised on Wednesday that he could rebuild the economy fast. “I built the greatest economy -- with a lot of great people -- that we've ever had, and I'm going to rebuild it again,” Trump said. “We're going to have a great economy very soon. Much sooner than people think. Much sooner.”
