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    Buhari says Nigeria security and economy improved during his tenure

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    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    • Nigeria
    • Africa
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    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    • Policies
    • Budgets
    • Economic Data
  • Business
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    • Companies
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    List of Stockbrokers in Nigeria

    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

    Dangote Refinery reduces petrol price by N15 nationwide

    Dangote Refinery reduces petrol price by N15 nationwide

    Jaiz Bank Plc Board of Directors propose over N830 mn as dividend for 2020

    Beta Glass Plc announces N2.95 final dividend for 2024 FY

    Fidelity Bank to issue 3.03 billion Ordinary Shares by way of Private Placement

    “Bankruptcy” report – Fidelity Bank Plc clarifies position

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    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    SEC approves Busha and Quidax as crypto exchanges in Nigeria

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    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

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Coronavirus – 26.4 million People File for Unemployment in U.S

President Trump Bans Immigration

Thursday, 23 April 2020, 6:44 pm
in News, World
0
Coronavirus – 26.4 million People File for Unemployment in U.S
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As lockdown and movement restrictions imposed in an effort to control Coronavirus pandemic continue to devastate the US and global economy, the number of people filling for unemployment benefits in the US continues to increase in millions for the fifth consecutive week.

With more people loosing their means of livelihood as businesses remain closed as a result of movement restrictions imposed across the country, the number of those seeking for financial relief through unemployment benefit has soared.

  • Read also; reasons behind US negative oil price

According to the data released by the U.S Department of Labour, over 4.4 million unemployment claims were filed in the week ended 18th April. This brings the total number of jobless claims since 14th March to 26.4 million people.

This figure represents more than 15% of the entire U.S work force. However, the weekly unemployment benefit claims appear to be slowing after reaching as high as 6.9 million in the last week of March.

Source: US Department of Labour

The drop in the number of weekly claim points to the direction that the worst days of lay offs might be over. The last five weeks recorded the most sudden surge in jobless claims since 1967, when the department of Labor started tracking the data.

Prior to Coronavirus pandemic lockdown, the weekly unemployment claims in the US hovered below 200,000 on average.

According to Richard Flynn, UK managing director at financial services firm Charles Schwab, “while this week’s  4.4 million jobless claims are staggering, there are signs that the pace of layoffs has reached its peak”

Hawaii, a tourism-based economy saw 26% of it’s work force file for unemployment in the past five weeks. Tourism is one the hardest hit industry since the outbreak of the pandemic.

On Tuesday, Andrew Cuomo, New York Governor told reporters that in his state, 1,000 people is waiting “just to take the incoming unemployment calls. That’s how high the volume is and they still can’t keep up”.

  • Read more; Inflation hits 23 months high in Nigeria
  • N780.926 billion shared by FG, States and LG in March 2020 allocation

As more people in the US file for jobless claims, US President Donald Trump on Wednesday signed an executive order to halt immigration into The US  for 60 days in a bid to protect American jobs as the country battles Covid-19 pandemic.

Announcing the signing in a tweet The White House said, “this will ensure unemployed Americans will be first in line for jobs as our economy reopens”

President @realDonaldTrump just signed a proclamation temporarily suspending immigration into the United States.

This will ensure unemployed Americans will be FIRST in line for jobs as our economy re-opens and preserve our healthcare resources for American patients.

— The White House 45 Archived (@WhiteHouse45) April 22, 2020

US has the highest number of confirmed cases of Coronavirus (Covid-19) in the world. it has 847,985 confirmed cases with 47,178 deaths  according to John Hopkins Coronavirus Resource Center. The US has also conducted more Covid-19 tests than any country in the world.

Written by

Ifunanya Ikueze

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