The U.S. Department Store Chain Couldn'T Afford To Lose 130 Thousand People.

With the increase in the number of confirmed cases, the impact of the new crown pneumonia epidemic on the US economy has begun to penetrate into more industries. The latest figures released by the US Department of labor show that in the week ending March 21st, the number of Americans applying for unemployment benefits for the first time was 3 million 283 thousand, a record high.

The pressure of the epidemic on the US job market is still increasing. The US Department store chain store Messi 30 announced that the company would lay off about 130 thousand people.

Affected by the new crown pneumonia epidemic, Messi stores in the United States had closed all retail stores nationwide. Local time 30, Messi department store announced that the company from the beginning of this week, will temporarily lay off about 130 thousand retail terminal business personnel.

Despite the fact that online sales are still in operation, Messi stores still say that the full shutdown of the physical retail business has had a huge impact on the sales of the company. Thus, as a listed company, Messi stores will not pay dividends in the first quarter, and has recovered the previous 2020 sales and profit targets.

From the industry perspective, the pressure of layoffs in American enterprises has exceeded the most direct impact of the epidemic. In addition to the retail industry, Ge Corp recently said that the jet engine business sector will reduce about 2500 employees, accounting for about 10% of its total number of employees.

In addition, clinics that are not related to the epidemic are shutting down stores and firing employees. Many people who are out of work recently say they are helpless to apply for unemployment benefits.

Nelson, a unemployed optometrist in Washington, USA: Unfortunately, I worked in a small company before, and I could not get paid during the epidemic. Before I had the highest income at home, now I can only apply for unemployment benefits.

Anton Nellis, an unemployed dancing teacher in Losangeles, USA: depressed, frightened and ashamed. I have been wandering in these emotions since I lost my job. I don't know the sense of shame.

Since the financial crisis, the US employment market has been expanding for nearly 10 years, and the number of working people has increased for 113 consecutive months. Millions of Americans have found jobs. Less than a month ago, the unemployment rate in the United States remained at 3.5%, the lowest level since last 60s.

Reuters reported that, in the face of this outbreak, the longest expansion period in the history of the US employment market is likely to end.

A recent survey released by the Wall Street journal shows that the US economy is in decline almost certainly under the outbreak of the new crown pneumonia. In some ways, the impact of the epidemic on the US economy may exceed that of the 2008 financial crisis.