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    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

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    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

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    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

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    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

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    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

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    Gov. Elections: INEC declares winner of Enugu State governorship election

    Gov. Elections: INEC declares winner of Enugu State governorship election

    How Labour Party won Abia State governorship election

    How Labour Party won Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    JUST IN: ‘13 Parties’ threaten to pull out of 2023 Elections over naira redesign

    We will use all available sanctions against those who undermined Nigeria’s Polls – US

    INEC disowns online voter registration website

    INEC to resume collation of Gov. election results in Enugu and Abia state

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

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    • Economic Data
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    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

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    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

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    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

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    CEO of Ecobank Group to retire, new CEO announced

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    President Biden approves major Oil and Gas drilling project in Alaska

    President Biden approves major Oil and Gas drilling project in Alaska

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    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    Obajana Cement Plant has commenced full operation – Dangote Cement Plc

    Dangote Cement Plc establishes new share buy-back programme

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    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

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

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

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    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

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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
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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 (@WhiteHouse) 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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