US States move to re-open businesses after 26.4m job loss to coronavirus pandemic

States in the United States of America (USA) can no longer bear the consequences of prolonged coronavirus lockdown on businesses in their respective jurisdiction. Job loss precipitated by the coronavirus pandemic in the US has risen to 26.4 million.

While the US Congress on Thursday was considering approval for new interventionist stimulus measure, governors of some states in the US consider gradual reopen businesses in their jurisdiction.

The Labor Department’s statistics indicated that 4.4 million US workers registered for jobless benefits in the week that ended April 18.

The department acknowledged that coronavirus lockdown measures have compelled businesses to shut down nationwide, causing damage to the world’s largest economy.

It was gathered that the House of Representatives also considered approval of the latest stimulus bill, which proposes additional $500 billion relief funds for drowned small businesses and hospitals with overstretched capacity.

The initiative is to reinforce the $2.2 trillion CARES Act stimulus measure passed in late March.

It was highlighted that the bill being considered in the US legislature would make provision for more $320 billion to fund devastated small businesses,, then, $75 billion for hospitals, $25 billion to expand virus testing and $60 billion in disaster recovery loans and grants.

President Donald Trump has assured to sign the bill into law as soon as it is passed.