Highest unemployment in US after 1930 : You will be surprised to know that after 1930, now maximum unemployment in US. After all, what is the reason behind this unemployment? Only due to Covid-19 it is impossible in such a large number of, unemployment. Only due to a virus Covid-19,US is losing its ability to be its super power. Now often people want to know who is the superpower of this world? China or US?
Sources say that the US economy seems to be battered due to the corona virus or Covid-19. According to the latest data, the unemployment rate in America has become the highest since the great recession of 1930. Again I am asking the same question, only can cause of Covid-19 such a huge unemployment?
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US and India are good friends
If news is believed then US and India are very good friends,It is also true that there are many similarities found between good friends. So when India has the largest unemployment since 1945, then how could his friend US not have this quality?
There was already huge unemployment in America and India before Covid-19, now these two friends want to hide their failure under the cover of Covid-19.
Due to the Corona crisis, the economy of America, the world's most powerful country, is seen to be faltering. The situation has become such that unemployment in America is at the highest level of 90 years. According to government figures, the unemployment rate has become the highest since the Great Recession of 1930.
How was the Great Recession of 1930?
In the year 1929-30, this recession started from America and it had engulfed the whole world. The whole world had become helpless and helpless. During this time, the American stock markets were continuously falling and the investors had lost billions of dollars. America's highest profitable companies also started going into losses.
Here the equation is reversed, the economic condition of the whole world is deteriorating but China's economic condition is recovering.China is buying the falling shares of companies because China has to become the super power of economy.
Well, we are discussing what was the great recession in 1930 in US. Many major US companies shut down in 1930. Due to this situation more than 10 million people became unemployed. Let me tell you that there were many reasons for the Great Recession of 1930. Failure of banks and heavy downfall of stock market are considered to be the main reasons. Countries around the world came in the grip of this recession.
You can read : Bad effects of Covid-19 on Telecom jobs
Now circumstances in US
Statistics show that one out of every six American workers has been fired from the jobs due to Corona virus epidemic. The US government said that over 44 million people applied for unemployment benefits last week. With this, in the last five weeks, about 26 million people have applied for unemployment benefits.
To combat the deepening economic crisis, the US Parliament has approved a package of about US $ 500 billion. At the same time, US President Donald Trump has also given assistance to small businesses and millions of workers.
Only the amount of aid is being announced, but the reality is that help is not reaching the people.Even in US friend country India, announcements of funds are being made, but poor laborers are dying of hunger.
US government has stopped immigration
Considering the state of the economy, the United States has recently decided to stop immigration. According to US President Donald Trump, no outsider will be allowed to settle until further orders.
This means that no foreigner will be able to become a citizen of the United States until the next order and neither will be able to apply for it.People from all over the world go to America for jobs and business, who apply for citizenship there after some time. But now unable to apply for citizenship.
Now what will happen next is difficult to say right now, if you stay alive then you will also get a job and after some problems life will be normal. We will solve the problems of life only when we stay alive. So protect yourself from Covid-19, be safe, and be happy.
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