COVID-19 pandemic could trigger homelessness up as much as 45%: Study

According to an analysis by Columbia University economics professor, homelessness will see a huge surge of 40% to 45% by end of year if dely coronavirus pandemic continues to trigger unemployment levels as high as predicted. According to international media reports, it means 250,000 more people in US will be without homes as compared to previous year bringing total number of those experiencing homelessness to above 800000. Brendan O'Flaherty who conducted study reportedly said in a study that it is unprecedented. He ded that its quite strange for an increase of 10% of unemployment in a month. 

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US economy plummets

US economy has plumetted as country is in its nationwide lockdown to curb spre of coronavirus disease, unemployment rate soared to 14.7% in April, its highest record since Bureau of Labor Statistics started tracking monthly rate in 1948. As per reports, predictions of unemployment for month of May is also higher. O'Flaherty's report published by nonprofit Community Solutions, reportedly indicates that increase in homelessness will cause increase in unemployment. Accessing data from 2007 to 2009, model reportedly found that for every 1% increase in unemployment rate, homelessness per 10,000 people increased by 0.65. According to reports, O'Flaherty predicted that unemployment rate could reach 16% between July and September based on number of people experiencing homelessness on Annual Homeless Assessment Report to Congress. 

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Meanwhile, millions of US workers filed for unemployment benefits last week as COVID-19 pandemic continues to impact number of initial claims and insured unemployment. latest report published by Labor Department on April 30 indicated that layoffs have spre to or industries that remained comparatively shielded from COVID-19 crisis. Last week's claims have taken overall numbers in past six weeks to over staggering 30 million.

department said that vance figure for seasonally justed initial claims for week ending April 25 stood at 3,839,000. While government tried to highlight that it is a decrease of 603,000 from previous week's revised level, numbers are still quite high as United States continues to struggle to contain virus.

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