'Investment Doesn't Like Uncertainty': Unemployment Continues To Plague Some Philadelphia Residents As Coronavirus Concerns Linger
PHILADELPHIA (CBS) -- Some people have started heading back to work but nationwide, people continue to lose jobs. Another 1.5 million Americans applied for unemployment benefits last week. The Labor Department says it's the 11th straight week of declines in applications.
But while some things are getting better locally, others are getting worse.
"City Council members, please listen to the voices of Philadelphians who are the lifeblood of Philadelphia's economy and culture," Philadelphia resident Lori Fulton said.
Philadelphia On Track To Enter Green Phase Of Pennsylvania's Reopening Plan By Early July
Residents are pleading for certainty in an uncertain time. As some residents get back to work, others remain in the dark.
Most restaurants and shops are open in some capacity. However, many cultural aspects, like theaters, remain closed.
The shutdown is also impacting Eastern State Penitentiary. Dozens of employees were recently laid off and they had to cancel this year's "Terror Behind the Walls."
Museum leadership said they had to lay off 40% of their employees and implement salary reductions.
In a statement, they said, "This was the absolute last resort. After months of financial losses, and with such uncertainty ahead, we are simply out of options. The strength of this organization has always been its dedicated and ambitious staff. We are heartbroken."
"I think it's really scary because we don't know what's going to happen in the next couple of months and what it might look like come October," Fairmount resident Sophie Rowen said.
And it's that uncertainty that has economists worried.
"There's uncertainty about the future outbreaks of the virus coming back in the fall or late summer or in the next few weeks and that uncertainty, unfortunately, impacts hiring and investment issues. Investment doesn't like uncertainty," Temple University's Dr. Pedro Silos said.