Thousands of workers are poised to join the ranks of the unemployed, as ongoing turmoil from the coronavirus pandemic prompted Corporate America to unleash a wave of pink slips this week —adding to an already staggering number of people without jobs.
As Congress and the White House locked in a stalemate over a fresh round of economic stimulus — which includes a highly coveted $600 unemployment bonus that’s helped to prop up consumer spending — a range of big companies are moving to shave headcount.
The timing could hardly be worse, given that the fate of a fiscal boost is uncertain, and the ranks of the jobless remain swelled with tens of millions of people.
“We’re in a situation where unemployment is remarkably elevated,” Mark Hamrick, Bankrate.com’s senior economic analyst, told Yahoo Finance on Thursday.
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