A whopping one million Californians have applied for unemployment claims since March 13.
Considering this, California Governor Gavin Newsom announced that Wells Fargo, Citi, JPMorgan, and U.S. Bank all agreed to grant a 90-day waiver for mortgage payments “for those impacted by COVID-19.”
California Governor Newsom’s announcement comes one day before a key national data release on new jobless claims for the United States, which some have projected to be in the multi-millions. The initial claims data has never before surpassed 1 million, and it was 285,000 last week.
The state has ordered 100 million new masks, he said, and the state is ramping up its number of available hospital beds and ventilators, a potentially life-saving device that helps patients breathe.