Coronavirus Pandemic Grows

Coronavirus Pandemic Grows

Millions of American workers are without paychecks, scrambling to find solutions.

CRISIS.

BUSINESSES SHUTTERED,ENTIRE INDUSTRIESUPENDED LEAVING MILLIONS OFAMERICAN WORKERSWITHOUT PAYCHECKS AND SCRAMBLINGTO FIND SOLUTIONS.BUT THE TREASURY SECRETARY SAYSHELP IS ON THEWAY FOR SMALL BUSINESSES, ANDSPEAKER PELOSI ANNOUNCED THEHEAD OF A NEW BI-PARTISANOVERSIGHT COMMITTEEESTABLISHED TO ENSURE THE 2-TRILLION-DOLLAR RELIEF PACKAGEIS SPENT WISELY.ABC'S ANDREW DYMBURT IS INWASHINGTON D.C.

WITH MORE ONTHE FINANCIAL FALLOUT.A STUNNING SURGE IN WEEKLYUNEMPLOYMENT CLAIMS. WITHMILLIONS OF AMERICAN WORKERSALREADY OUT OF AJOB - TODAY'S RECORD WEEKLYUNEMPLOYMENT CLAIMS OF 6.6MILLION FROM THE LABORDEPARTMENT, HIGHLIGHTS THESCALE OF THE PAIN AMERICANS AREFEELING.

THE NUMBERSDOUBLING LAST WEEK'S PREVIOUSRECORD OF 3.3 MILLION JOBLOSSES.THE FINANCIAL FALLOUT MORE BLEAKTHAN EXPECTED BYSOME EXPERTS.SOT: MARK ROM, POLITICAL SCIENCEPROFESSOR,GEORGETOWN UNIVERSITY:"THE DEATH TOLL AND THEINFECTION RATE IS - ARE BOTHRISINGRAPIDLY IN THE UNITED STATES, SOWE ARE AT A TROUBLED TIME.IT'S NOT LIKE WE ARE WINNING THEWAR NOW."AFTER PRESIDENT TRUMP SIGNEDINTO LAW THAT SWEEPING 2-TRILLION-DOLLAR STIMULUS PACKAGETO HELP STRUGGLINGBUSINESS OWNERS AND LAID OFFWORKERS --- ACTUALLYRECEIVING THOSE BENEFITS ISPROVING TO BE ANOTHER BATTLE.SOT "THIS IS PROBABLY GOING TOBE ABOUT MY 30TH TIMECALLING TODAY.UNEMPLOYMENT PHONE LINES ANDWEBSITES ARE CRASHINGAROUND THE COUNTRY.

OVERLOADEDBY THE VOLUMESINCE THE OUTBREAK.NATS - "WELCOME TO THE NEW YORKCITY DEPARTMENT OF LABORUNEMPLOYMENT INSURANCE --".[GFX2] NEW YORK - ONE OF THEHARDEST HIT STATES -- HASSEEN TELEPHONE CALLS TO THEDEPARTMENT OF LABOR INCREASE16,000% AND WEB TRAFFIC IS UP BYNEARLY 900%BACK IN THE NATION'S CAPITOL -HOUSE SPEAKER NANCY PELOSIANNOUNCING THE CREATION OF ACORONAVIRUS CRISISCOMMITTEE TO OVERSEE STIMULUSSPENDING.((SOT PELOSI "THE PANEL WILLROOT OUT WASTE, FRAUD ANDABUSE; ))UNFORESEEN CONSEQUENCES OFCOVID-19 BEING FELT FARAND WIDE.

IN WISCONSIN, DAIRYFARMERS FORCED TO DUMPSURPLUSES OF MILK((SOT RYAN ELBE AT GOLDEN "E"DAIRY FARM "ALL THIS PRIDE ALLTHIS TIME AND WE'RE JUST DUMPINGIT DOWN THE DRAIN.HEALTH AND FINANCIAL FORECASTSLEADING TO AHIGHER DEMAND FOR WILLS.EXPERTS TELLING ABC NEWS, WILLREQUESTS (EVEN BY THOSE WHOARE NOT SENIOR CITIZENS) IS UP150%.

AND COULD BALLOON TO OVER200% THIS WEEK.BUT, A NEW LIFELINE FOR SMALLBUSINESSESABOUT TO BE LAUNCHED.TREASURY SECRETARY STEVE MNUCHINSAYS A PAYCHECKPROTECTION PROGRAM FOR SMALLBUSINESS OWNERS SHOULDBE UP AND RUNNING BY FRIDAY,AIMED AT SAVING JOBS.MNUCHIN SOT:YOU USE THIS TO PAY YOURWORKERS.

PLEASE BRINGYOUR WORKERS BACK TO WORK IFYOU'VE LET THEM GO.

YOU HAVEEIGHT WEEKS PLUS OVERHEAD.

THISIS A VERY IMPORTANTPROGRAMREPORTER TAG:TO PUT THESE NEW UNEMPLOYMENTNUMBERS INPERSPECTIVE, JUST A FEW MONTHSAGO, PRIOR TO THECOVID-19 OUTBREAK, THEUNEMPLOYMENT RATE IN THE U.S.WAS NEAR A 50-YEAR LOW.ANDREW DYMBURT ABC NEWSWASHINGTON.MEANWHILE -- LAYOFF NOTICES WERESENT TO EMPLOYEES OF