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Unemployment: Impact on the Individual and the Economy

Unprecedented unemployment

In just two months, unemployment has reached staggering numbers.

More than 30 million Americans have filed jobless claims since March. Various state social distancing policies have forced many businesses to close, keeping as many people as possible at home, in hopes of slowing the spread of the coronavirus.

The gravity of the situation is not lost upon us; there is an urgent need to safely reopen the economy, for both businesses and individuals.

With all this uncertainty, many may wonder what's in store for the unemployment outlook longer-term.

Addressing the questions

In this video, industry professionals share their economic outlooks and share step-by-step instructions on what to do if you find yourself unemployed.

A healthy job search is all about taking care of yourself. 
Lauren Herring, CEO of IMPACT Group and author of Take Control of Your Job Search! 10 Emotions You Must Master to Land the Job

The first thing that you have to do is take a look at your own financial situation. What are my expenses? How much money do I have saved up? 
Jesse Abercrombie, Financial Advisor at Edward Jones

Now, the good news — if there is some good news there — is we don't expect these levels to persist over the long-term. 
Scott Thoma, Investment Strategist at Edward Jones

Want to talk? Find a financial advisor near you and schedule a virtual meeting today.

More Resources:

Stimulus Checks: Prioritizing Your Long- and Short-term Goals

How you choose to spend yours could make a difference in your goals.

What the CARES Act Means for You

Get highlights on some financial relief designed for individuals and businesses.

Financial Difficulty Due to COVID-19? 5 Actions You Can Take

Hear from the industry professionals about steps you can take now.

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