Unemployment Payments Provide Necessary Cushion for Jobless Americans

America’s unemployment rate is suddenly approaching historic levels. Since the COVID-19 pandemic began almost two months ago, roughly 30.3 million people have filed for jobless benefits.

“That is more people than live in the New York and Chicago metropolitan areas combined, and it’s by far the worst string of layoffs on record. It adds up to more than one-in-six American workers,” Associated Press writer Christopher Rugaber reported at the end of April.

However, the Economic Policy Institute (EPI) estimates that figure is far lower than the true number of Americans out of work. Nearly 14 milli...