Coronavirus economic updates: US cuts 701K jobs in March, unemployment rate jumps to 4.4%

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Coronavirus economic updates: US cuts 701K jobs in March, unemployment rate jumps to 4.4%
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NEW: Amazon CEO Jeff Bezos will donate $100 million to Feeding America to help restock food banks and food pantries in the time of economic uncertainty.

Amazon CEO Jeff Bezos pledges $100 million donation to U.S. food banks

Amazon's CEO and founder Jeff Bezos announced he was donating $100 million to Feeding America, which would help restock food banks and food pantries in the time of economic uncertainty. "Non-profit food banks and food pantries rely in large part on surplus food from a range of food businesses. For example, many restaurants donate excess food. But during this time of social distancing, restaurants are closed, and many other normal channels of excess food have also shut down," Bezos wrote in an Instagram post announcing the donation."To make matters worse, as supply is dwindling, demand for food bank services is going up.

⁣ Bezos currently tops Forbes' list of billionaires, with an estimated net worth of approximately $117 billion., demanding the company shut down and thoroughly clean the facility amid the COVID-19 outbreak.U.S. employers cut 701,000 jobs in March and the unemployment rate rose to 4.4% from 3.5%, according to the latest report from the Bureau of Labor Statistics.

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