Maine jobless claims hit another high, but funding for small business starts to flow
Nearly 31,000 Mainers applied for unemployment benefits in the week that ended April 4, setting another all-time weekly high and bringing the total number of claims since March 15 to 76,109 — more than twice the number during all of 2019.
The new weekly total, released Thursday by the Maine Department of Labor, is roughly 50 times the 634 claims filed from March 8-14, as the COVID-19 pandemic was dawning in Maine.
The total of 30,889 claims last week was 7,000 more than the total for March 22-28 and about 9.500 more than the total for the week that ended March 21. Both those earlier weeks were record-setters.
About 6.6 million Americans submitted unemployment applications last week, and one in 10 U.S. workers is now jobless, according to national reports.
Other numbers just released are more positive for business.
By Thursday, 5,334 small businesses in Maine had been approved for more than $1 billion in forgivable loans through the Paycheck Protection Program, U.S. Sen. Susan Collins, R-Maine, said in a news release.
Dozens of lenders across the state are participating in the program, which went into operation April 3 under the federal CARES Act and is administered by the U.S. Small Business Administration. The program offers loans without repayment requirements for companies with fewer than 500 employees and that maintain their staffing levels despite the economic downturn.
“This more than $1 billion in urgently needed relief is great news for our state, and it will help thousands of Maine small employers continue to pay their employees and keep from closing their doors,” said Collins. “Maine banks and credit unions are working around the clock to assist small businesses and certain nonprofits with their funding needs.”
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