Thursday, April 2, 2020

UNEMPLOYMENT CLAIMS DWARF 2008-10 GREAT RECESSION

(Click on graphic to enlarge.)

A record 6.6 million Americans applied for unemployment benefits last week, marking a drastic downturn in the U.S. labor market caused by the new coronavirus.

The large number of claims was double the 3.3 million sought benefits two weeks ago as the U.S. shut down parts of the economy in an effort to contain the virus. Jobless claims, a proxy for layoffs, provide temporary financial assistance for workers who lose their jobs...

The previous week's claims tally of 3.3 million was revised up by a modest 24,000 to 3.3 million. A stunning 10 million workers now have sought unemployment benefits in just two weeks, exceeding the nearly nine million who lost jobs from 2008 to 2010 amid the Great Recession.

9 comments:

Anonymous said...

Viewers of FOX News, including the president of the United States, have been regularly subjected to misinformation relayed by the network—false statements downplaying the prevalence of COVID-19 and its harms; misleading recommendations of activities that people should undertake to protect themselves and others, including casual recommendations of untested drugs; false assessments of the value of measures urged upon the public by their elected political leadership and public health authorities.

The misinformation that reaches the FOX News audience is a danger to public health. Indeed, it is not an overstatement to say that its misreporting endangers its own viewers — and not only them, for in a pandemic, individual behavior affects significant numbers of other people as well.

Anonymous said...

It will take six weeks to return close to normal under Trump in the 4th quarter of 2020; it took O'Bama eight years to figure out he couldn't figure anything out beginning in 2008.

Anonymous said...

In October, 1992, a record high of 695,000 Americans filed for unemployment.
Two weeks ago, 3.3 MILLION Americans filed, almost FIVE TIMES the previous record.

This morning the Labor Dept. announced that 6.6 MILLION new claims were filed last week.

The good news is our fearless orange Dear Leader recently said "you know, a lot of people think that goes away in April with the heat — as the heat comes in. Typically, that will go away in April. We’re in great shape though"

It's April. We're in great shape America!!!

Anonymous said...

There are 10 million worker unemployed and ALL are meskins bola de pendejos. Who else works in this country? NOT HILLBILLIES!!!

Anonymous said...

Normal under Trump? Ha ha ha ha ha ha ha ha ha

The orange dude is a walking disaster!

Anonymous said...

(it took O'Bama eight years to figure out he couldn't figure anything out beginning in 2008.)

F you and all tRump ass eaters.
Eldelasprietas.

Anonymous said...

He should learn not to open his mouth until his brain is in gear.

GGL said...

As for the hillbillies or rednecks a Country Boy will survive. What happens when the Country Boy says nothing else for the free loaders?

Anonymous said...

convelutd hillbilly

rita