US employers sheds 701,000 jobs in March, unemployment jumps to 4.4%
Almost half of low-income Americans say they expect to burn through their savings within three months, according to a survey released Thursday.
Eighteen percent of adults with an annual income of $50,000 or less have no savings.
Some 34% have enough savings to cover just three months of expenses.
As millions of jobs are lost to the coronavirus pandemic, almost half of low-income Americans say they expect to burn through their savings within three months, according to a survey released Thursday.
The government’s monthly employment numbers for March, due to be released Friday, are expected to show an unprecedented surge in layoffs by businesses forced to shut down by the pandemic.
6.6 million US workers filed for their first week of unemployment benefits in the week ending March 28, according to the Department of Labor — a new historic high.
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