Hardware Retailing The Industry's Source for Insights and Information
More than 6.6 million people have filed unemployment claims in the week ending March 28, according to new data from the U.S. Department of Labor. This figure is in addition to 3.3 million people who filed unemployment claims in the week prior.
In total, nearly 10 million Americans have lost jobs in the past two weeks. Previously, the highest weekly job claim figure was 695,000 in 1982, according to The New York Times.
“What usually takes months or quarters to happen in a recession is happening in a matter of weeks,” says Michelle Meyer, chief U.S. economist for Bank of America Merrill Lynch.
Find Resources for Your Home Improvement Operation
The North American Retail Hardware Association and Hardware Retailing are committed to keeping you updated on the latest developments of the COVID-19 pandemic as they affect the home improvement industry. Find valuable resources, including employment law guidance, information on Small Business Administration loans and profiles of enterprising retailers at the dedicated COVID-19 resource page.
