Unemployment could top 32% as 47M workers are laid off amid coronavirus

USA TODAY The unemployment rate in the U.S. could reach a staggering 32.1% in the second quarter as 47 million workers are laid off amid the coronavirus outbreak, according to estimates published in a blog by the Federal Reserve Bank of St. Louis. That would be the highest jobless rate on records dating to 1948 and easily top the 25% rate during the Great Depression. “These are very large numbers by historical standards, but this is a rather unique shock that is unlike any other experienced by t...
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Millions of jobless seek help as 1,000 die in U.S.

CBS NEWS The U.S. coronavirus death toll has sailed past 1,000 as the closure of businesses aimed at stemming the spread of the new disease drives an unprecedented number of Americans to apply for unemployment benefits. The number of COVID-19 cases across the country is fast approaching 70,000, forcing leaders to grapple with how much to restrict Americans' lives to slow the spread. Doctors and epidemiologists say the closures and other social distancing measures work, and while President ...
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China Replacing Humans with Robots

This is the first episode in a Bits video series, called Robotica, examining how robots are poised to change the way we do business and conduct our daily lives. Faced with an acute and worsening shortage of blue-collar workers, China is rushing to develop and deploy a wide variety of robots for use in thousands of factories. Waves of migrant workers from the countryside filled China’s factories for the last three decades and helped make the nation the world’s largest manufacturer. But ...
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China Building Fully Robotic Production Plant

Construction work has begun on the first factory in China’s manufacturing hub of Dongguan to use only robots for production, the official Xinhua news agency reported. A total of 1,000 robots would be introduced at the factory initially, run by Shenzhen Evenwin Precision Technology Co, with the aim of reducing the current workforce of 1,800 by 90 per cent to only about 200, Chen Xingqi, the chairman of the company’s board, was quoted as saying in the report. The company did not ...
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