Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates

  • The coronavirus economic freeze could cost 47 million jobs and send the unemployment rate past 32%, according to St. Louis Fed projections.
  • There are nearly 67 million Americans working in jobs that are at a high risk of layoffs, according to the analysis.
  • St. Louis Fed President James Bullard said last week that the initial estimates are grim but the plunge should be short-lived. Source CNBC

Paris’s Orly airport to shut as passenger numbers plunge amid coronavirus crisis

Paris’s Orly airport will shut down on Tuesday in light of the collapse in air traffic amid the coronavirus crisis. France’s biggest airport for domestic flights, Orly will be closed until further notice at midnight – after hosting just ten flights and around 1000 passengers on Tuesday, as the number of people taking flights has plunged thanks to the stringent measures adopted to try and contain the transmission of the coronavirus. Source France 24