The whole world is going through very difficult economic times. Supply chains are being disrupted and entire economies are collapsing all over the world. The United States has the largest economy in the world but also it has not been spared by this global economic meltdown. The US economy has also been shut down at this moment we are at the verge of a total collapse.
If the US economy remains shut for the next 2-3 months, we will witness a historic number of layoffs that has not been experienced for many decades. What has already happened so far is difficult to believe. It is just last week when the department of labor announced that more than 3.3 million Americans had already lost their jobs and they were filing for unemployment benefits across various states. This is more than four times compared to the last all time unemployment claims. Things are getting worse every passing day and this week experts are warning that the number of unemployed people will continue surging as more companies and businesses shut down their operations. This will be the most challenging time for the United States economically because this level of unemployment was lastly seen during the great depression back in the 1930s.