The Morning Journal (Lorain, OH)
U.S. job losses mount Small business lending program on hold
The ranks of America’s unemployed swelled toward Great Depression-era levels Thursday, and President Donald Trump reacted to the pressure on the economy by outlining a phased approach to reopening parts of the country where the coronavirus is being brought under control.
Under the plan, presented by Trump in a call with the nation’s governors, the president will ease his social-distancing guidelines to allow states to start getting back to business over the next several weeks in places that have strong testing and have seen a decrease in COVID-19 cases.
“You’re going to call your own shots,” Trump told the governors, according to an audio recording obtained by The Associated Press, after a week in which he clashed with them over his claim that he has “total” authority over how and when the country reopens.
The move came on the same day the government reported 5.2 million more Americans applied for unemployment benefits last week, bringing the four-week total to 22 million — easily the worst stretch of U.S. job losses on record. The losses translate to about 1 in 7 American workers.
The bleak picture intensified the debate over how and when to start lifting the lockdowns and other restrictions that have all but strangled the economy.
While many Americans have chafed at the damage to their livelihoods, business leaders and governors have warned that more testing and protective gear are needed first. And health experts have cautioned that easing the restrictions too soon could allow the virus to come storming back.
“My No. 1 focus is to keep my family safe, so I’m really not in a hurry to put an end to this,” said Denise Stockwell, who is about to lose her job in marketing at Cornell University in Ithaca, New
York.
But conservative economist Steven Moore, a Trump ally, said there will be 30 million people out of work in the country if the economy doesn’t open back up soon. “And that is a catastrophic outcome for our country. Period,” he said. “You’re going to have social chaos.”
Worldwide, the outbreak has infected more than 2.1 million people and killed more than 140,000, according to a tally by Johns Hopkins University, though the true numbers are believed to be much higher. The death toll in the U.S. reached about 31,000, with around 650,000 confirmed infections.
The spread of the virus is declining in such places as Italy, Spain and France, but is rising or continuing at a high level in Britain, Russia and Turkey, authorities said.
In other developments: — Vladimir Putin postponed Russia’s grand Victory Day parade May 9 in Red Square marking the 75th anniversary of Nazi Germany’s defeat in World War II. Since Soviet times, Victory Day has been the nation’s most important holiday, reflecting its wartime losses, put at more than 27 million dead.
— New York, the most lethal hot spot in the U.S., reported more encouraging signs, with a drop in the daily number of deaths statewide and the overall count of people in the hospital. “We’ve controlled the beast. We’ve brought the rate of spread down,” Gov. Andrew Cuomo said. Still, Cuomo extended the state’s lockdown through at least May 15, and New York City is lining up 11,000 empty hotel rooms to quarantine people living in crowded apartment buildings.
— Police acting on an anonymous tip found at least 18 bodies over two days at a nursing home in Andover Township, New Jersey. Corpses were packed into a room used to hold the dead until they can be picked by a funeral home.