Morning Report: Unemployment rising

Unemployment claims continue to rise asexperts estimate 2.5 million Americans to file this week, pushing the total unemployment claims to 36 million.

Jane King reports.

But still at historic highs.

Jane king is in new york with that and more.

Good morning.

Millions more are likely to be added to the tally when weekly jobless claims come out today.

Economists estimate the labor department will report that 2.5 million americans filed new applications for unemployment insurance last week, down from the 3.2 million the prior week that would push total unemployment claims the past eight weeks to a staggering 36 million.

******** the deadline for paycheck protection program loan recipients to return their money is today.

Some business owners want to ensure they abide by the program's evolving criteria.

The treasury secretary says anyone who took the ppp money, which was meant to help small businesses survive, could be held criminally liable.

********* stocks sink as the fed chair calls out risks to the economy.

Meanwhile, the united nations says the coronavirus will cause the global economy to shrink by 3 percent this year.

Goldman sachs also says it sees the u-s jobless rate peaking at 25 percent instead of 15 percent.

********* grocery shoppers are shifting from stock piling to penny pinching.

In recent weeks, u.s. shoppers are buying more of a store's private labels than usual, spending less across popular convenience store categories and making more trips to dollar stores, according to data from market research firm iri.

People are still buying more food as they cook at home.

******* ryanair passengers will have to ask permission to go to the bathroom as part of new safety measures to prevent the spread of coronavirus.

The bbc says the irish airline has banned lines onboard for the toilet.

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