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Goldman Sachs estimates about 2.25 million Americans filed initial unemployment claims this week in the wake of job layoffs due to the COVID-19 pandemic. If that prediction proves to be accurate, it would be the highest number of filings on record.

What can be done? A “large fiscal stimulus” is needed to stave off an impending economic recession caused by the COVID-19 pandemic, according to the Economic Policy Institute (EPI).

Michigan’s domestic automobile corporations were some of the latest to feel the pandemic’s impact, as well: Ford Motor Co., General Motors and Fiat Chrysler Automobiles decided to close their facilities until March 30 to halt the spread of COVID-19.

Read more in Michigan Advance

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