News Desk :
The world has experienced the fatalities 2,59,436 from Covid-19, a new virus while total cases reached 37,56,265 in 210 countries and territories and recovered 12,58,368, according to worldometer.
The coronavirus has killed 72,317 people in the United States and infected 12,38,560 according to a count from Johns Hopkins University, and analysts fear some of the economic damage may be permanent.
Like a global tsunami, the coronavirus pandemic has caused a huge loss of life and taken a massive economic toll.
In the US economy, skyrocketing unemployment is the most-visible sign of the devastation: almost overnight, at least 30 million workers lost their jobs.
The April employment report, due out Friday, is expected to show the jobless rate soaring into double digits, perhaps as high as 20 percent, far surpassing the worst of the global financial crisis and reaching levels not seen since the Great Depression last century.
The US government and central bank worked at a stunning pace to rush out aid and financing to workers and businesses to try to prevent a complete economic collapse, but there is a growing fear that the temporary shutdowns imposed to contain the spread of the virus will become permanent for many companies.
Despite nearly $3 trillion in financial aid approved by Congress in March alone and trillions more in liquidity provided by the Federal Reserve, the US economy contracted by 4.8 percent in the first three months of the year-a period that included only a couple of weeks of the strict business shutdowns.
The second quarter could see the economy plunge by twice that amount.
The data on the jobs market has become so bad so fast that there are no comparisons.
Statisticians in the Labor Department’s Bureau of Labor Statistics (BLS), which produces the monthly unemployment report, are using natural disasters as a point of reference. Deaths from the COVID-19 epidemic in Italy climbed by 236 on Tuesday, against 195 the day before, the Civil Protection Agency said, while the daily tally of new infections came in at 1,075 against 1,221 on Monday.
It was the lowest number of new cases for two months.
The total death toll since the outbreak came to light on Feb. 21 now stands at 29,315 the agency said, one of the highest in the world. The number of confirmed cases amounts to 213,013.
Italy’s true death toll from the disease is probably much higher than is reported by the Civil Protection Agency in its daily bulletins, national statistics agency Istat said in an analysis of nationwide mortalities released on Monday.
The Civil Protection Agency said people registered as currently carrying the illness fell to 98,467 from 99,980 on Monday.
There were 1,427 people in intensive care on Tuesday against 1,479 the day before. Of those originally infected, 85,231 were declared recovered against 82,879 on Monday.
The agency said 1.512 million people had been tested for the virus against 1.480 million the day before, out of a population of around 60 million.
Spain registered just a slight rise in the number of daily deaths and infections on Wednesday, according to data from the Health Ministry.
In the last 24 hours, the country counted 867 new COVID-19 infections and 185 more deaths. Both numbers are up from yesterday when the country saw 164 deaths and 356 new infections, but significantly below their peak.
In total, since the outbreak began, health authorities have confirmed 219,329 COVID-19 infections, 29,315 deaths, and 123,486 recoveries.
On Monday night, the Spanish government published its latest unemployment figures. In April, Spain saw a net loss of nearly 50,000 jobs and the number of unemployed reached 3.83 million.
Job losses stabilized compared to March, when the country saw more than 833,000 job losses. Much of the shift can be explained by the government’s decision in late March to make it illegal to fire people due to COVID-19.
Instead, temporary layoffs were encouraged, in which the government foots the bill for employees’ partial wages and social security.
At the end of April, some 3.39 million people in Spain found themselves temporarily laid off, according to the Labor Ministry. People in this situation do not count as unemployed, as they remain linked to their employers, but they are not working and are collecting government help.
Excluding those laid off, around 15 million people in Spain – some one-third of the country’s total population of 47 million – are currently working.
According to the government, providing support for these temporary layoffs is linked to extending the state of emergency in the country.
But a growing number of opposition parties have announced they will vote against a government motion on Wednesday to extend the state of emergency.
Spain has a minority coalition government and an extremely fractured Parliament. Prime Minister Pedro Sanchez has said the country has no option or plan but to extend the emergency declaration.
“Not supporting the state of alarm could bring health and economic chaos to Spain,” José Luis Ábalos, Spain’s transport minister, told a press conference on Monday.
