Economy

"More than 10 million Americans have already lost their jobs," Carlson said Friday. "Imagine another year of this."

Jobless claims hit record levels for the second time in as many weeks as the coronavirus pandemic continued to rattle the economy.

In an announcement earlier this week, the United States' Treasury Department and the Internal Revenue Service announced that stimulus checks would be issued to eligible recipients roughly three weeks from now.

The global economy is also on course for its worst year since the end of the Second World War, Capital Economics said.

The official purchasing managers' index (PMI), which is a metric of activity in the manufacturing sector, was higher than expected, although global shutdowns will hurt demand.

The president signed off a $2 trillion stimulus package last week that proposes to send individual checks starting at $1,200 to American households.

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Democratic presidential candidates Joe Biden and Bernie Sanders joined state lawmakers in New York and California in calls to freeze and forgive rent payments, as millions of Americans struggle to make ends meet under coronavirus lockdown.

Nearly half of Americans think a recession will occur due to the outbreak. Jobless claims have already skyrocketed to unprecedented levels at an unimaginable pace.

Academics in Israel suggested balancing public health and economic concerns with a mixed week of work and lockdown days, but other experts have serious doubts.

"We are learning that not all coronavirus task force members had seen Mr. Trump's letter to the governors before the letter was released," Acosta said.

"We have to go back to work," Trump said Thursday. "Our country has to go back."

Jerome Powell said in a rare interview he believed there could be a "good rebound" on the back of the economy's pandemic-related decline.

"The question is, is it going to be short? Or is it going to be elongated?" Mike Wilson asked.

The Department of Labor revealed that initial jobless claims rose by 3.3 million last week as business were shut down by the coronavirus pandemic.

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"Saving lives and saving the economy are not in conflict right now; we will hasten the return to robust economic activity by taking steps to stem the spread of the virus and save lives," the letter read.

"They gave us less than 1 percent of the money that they were giving out to cities and states and we have a third of cases in the nation," de Blasio said on Wednesday.

"We just passed the one million mark, in terms of the number of claims, just since March 13," Governor Newsom said Wednesday.

Large industries are being given a $500 billion lifeline, while Americans making under $75,000 per year are likely to receive a payment of $1,200 each as part of the $2 trillion dollar stimulus bill the Senate was expected to vote on Wednesday night.

"In addition to federal action, lawmakers at the state and local level must do everything they can to ensure that these workers and their families do not suffer economically during this time," the EPI researchers noted.

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The CEO said the second quarter would be the hardest hit, but expects a boom by the fourth quarter of 2020.

Seventy-two percent of Republican voters said they supported a national lockdown amid the coronavirus pandemic.

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The state recorded more than 21,000 initial claims on Monday, almost 20,000 more than the same day last year.

The new survey by Navigator also found that the president was more trusted to handle the outbreak than congressional Democrats.

"Air pollution levels as observed by satellite are showing drastic improvements in many areas that have been undergoing restrictive quarantines," researcher Peter DeCarlo told Newsweek.

Lieutenant Governor Jon Husted told reporters that a spike in unemployment had caused an issue with a website for jobless claims.