For the second week in a row, unemployment compensation claims topped 200,000 filings. The latest U.S. Department of Labor report shows more than 224,000 Ohioans filed for unemployment during the week ending on April 4. This is a slight decrease from the previous week when more than 275,000 claims were filed, but this week’s figure still demonstrate that coronavirus is having a substantial impact on Ohio’s economy.
Across the country, over 6.6 million Americans filed for unemployment which matches the number of claims filed nationwide in the previous week.
The needed steps to stop the spread of COVID-19 is taking a toll on Ohio’s businesses, and the unemployment number is just one sign of the economic impact of the virus. However, assistance is available for small businesses through several different government programs including the Paycheck Protection Program and Economic Injury Disaster Loans. In addition to these programs, the state of Ohio has taken steps to help employer cash flow issues by issuing a $1.6 billion workers’ compensation premium rebate and moving the tax filing deadlines.
More information about these programs, the efforts the state of Ohio is taking to assist businesses and Ohio’s executive orders can be found on the Ohio Chamber’s Coronavirus Business Resource Webpage.