This paper is on Coronavirus: US unemployment claims hit 26.4 million amid virus. Analyse the article from this link:
https://www.bbc.com/news/business-52398837. Then strucure the review in the following structure:1. One-sentence introduction to the article content – what is the article about? Avoid lengthy introductions.
Coronavirus: US unemployment claims hit 26.4 million amid virus
Analyse the article from this link: https://www.bbc.com/news/business-52398837
Then strucure the review in the following structure:
1. One-sentence introduction to the article content – what is the article about? Avoid lengthy introductions. If you would like to provide a definition, write a brief definition after the term has been used.
2. Analyse and include appropriate diagrams: The diagrams should be appropriate to explain the issue cover ed in the commentary. The following elements should be in the Diagram: Full title for the diagram
All lines and curves on the diagram should be clearly labelled
All intersections and connections to the axes on the diagram should be label to make later reference easier.
Important areas on the diagram can be shaded (e.g. excess supply – shortage) If the exact numbers are included in the article and are able to be used, those can be used as labels on the diagram. If not, the commonly used labels P1, P2, Q1, Q2, etc. can be used.
3. Explanation: Fully explain and apply your diagrams to the context of the article. The explanation should be done with the presumption that the reader knows nothing of economics.
The new applications brought the total number of jobless claims since mid-March to 26.4 million.
That amounts to more than 15% of the US workforce.
However, the most recent data marked the third week that the number of new claims has declined, raising hopes that the worst of the shock may be over.
“While this week’s 4.4 million jobless claims are staggering, there are signs that the pace of layoffs has reached its peak,” said Richard Flynn, UK managing director at financial service firm Charles Schwab.