Coronavirus Update: Expert Predicts Unemployment Rate Will Reach Record High
SACRAMENTO (CBS) - Boarded up businesses and employees out of work is becoming the norm across California, and the Employment Development Department (EDD) is releasing staggering numbers that prove it.
During the final week in March, unemployment claims reached nearly 900,000, which was a 370% increase from the week prior.
Employment Development Department Unemployment Claims
March 15th-March 21st — 187,000 claims filed
March 22nd-March 28th — 878,727 claims filed
370% increase over the course of one week
One expert told CBS13 he sees state unemployment rates reaching an unprecedented 20% by the summer.
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"During the great recession, unemployment peaked at about 12% for the state of California. I expect the state could see peaks into the high teens maybe even the low 20s by this summer," Dr. Jeffrey Michael, Executive Director of the Center for Business and Policy Research at the University of the Pacific, said.
Millions of unemployed Californians are hoping to get the full amount of unemployment allotted.
"I am the sole provider for my family and this is a huge hit to me and my loved ones," said Kelli Manes. "Anything is better than nothing at this moment."
Manes who filed for unemployment after her salon "Kevin Michael's," was forced to close. She says she's lucky to have a supportive employer, but will struggle financially even if she is granted a full unemployment check.
READ: Record 6.6M Americans Filed For Unemployment Benefits Last Week