Jobless Claims Hit 3.3 Million in the Last Report. This Week’s Will Probably Be Worse.

NY Times ^ | April 1, 2020 | Quoctrung Bui

[daniel1212]

Graphic at link .

Also of interest as regards costs of the cure: How dangerous is the COVID-19 coronavirus?

And Was I wrong about coronavirus? Even the world's best scientists can't tell me

[dp0622]

It’s disgusting to know that the writers of these articles are practically orgasmic about writing them.

[GSWarrior]

This essential business nonsense needs to stop. Business that can demonstrate social distancing and other safeguards should be open.

There is a vacant lot near where I work where sometimes people walk their dogs...roped off now.

Consider this scenario: in mid-May Trump eases stay-at-home restrictions, but governors of blue states say “not so fast” under the guise of public health and continue to enforce the regulations. Essentially citizens of major cities would be locked down while the rest of America looks for a return to normalcy. How would that turn out?

[Texas Eagle]

As I'm reading this thread, I have Fox Business Channel on in the background. The banner reads at the bottom of the screen reads, "701,000 jobs lost in March."

Wait. What?

How does 701,000 lost jobs result in 3.3 million unemployment claims?

Somethin' ain't right.

[cherry]

well my brother will probably loose his business and my son will probably have to declare bankruptcy,son in law laid off and it goes on and on....

thanks to fearpers and panic mongers.....you did well to destroy America...

[dp0622]

I am very, very sorry.

And yes, too many here and elsewhere were so quick to accept the 2 million American deaths as FACT.

That prestigious institution said so, so it must be true.

Now it’s down to 80,000 projected.

And I’ve not seen ONE fear monger on here or anywhere admit any culpability in this mess.

Again, I am sorry so many you are close to are being affected so adversely.

[daniel1212]

As I'm reading this thread, I have Fox Business Channel on in the background. The banner reads at the bottom of the screen reads, "701,000 jobs lost in March." Wait. What? How does 701,000 lost jobs result in 3.3 million unemployment claims? Somethin' ain't right.

Good catch, and it is not just Fox:.

www.usatoday.com › story › money › 2020/04/03 › . 3 hours ago As coronavirus spread, economy lost 701000 jobs in March... Employers cut 701000 jobs in March as the coronavirus pandemic began

That was just in March, yet less were lost in Feb.

[daniel1212]

This essential business nonsense needs to stop. Business that can demonstrate social distancing and other safeguards should be open. There is a vacant lot near where I work where sometimes people walk their dogs...roped off now

And yet the essential business exemption list is extensive, yet the shelter-in-place, which most seem to think means stay at home, means hardly any businesses have any.

[daniel1212]

It’s disgusting to know that the writers of these articles are practically orgasmic about writing them.

Many are in hopes of socialism.

[daniel1212]

Consider this scenario: in mid-May Trump eases stay-at-home restrictions, but governors of blue states say “not so fast” under the guise of public health and continue to enforce the regulations. Essentially citizens of major cities would be locked down while the rest of America looks for a return to normalcy. How would that turn out?

Stay-at-home restrictions need to be loosened next week, while your scenario would benefit the less restrictive ones, yet would mean less business nationwide.

[edhawk]

The 701k number is the non farm payroll survey. Much more ominous numbers in there when you dig into. Look at the household number, quite scary. 3 million drop.

[Texas Eagle]

So 2.6 million farmers lost their jobs in one week? That doesn’t make sense either.

[Texas Eagle]

Not to sound callous but bankruptcy is not necessarily the end of the world.

I thought it was some 30 years ago when I filed.

I was back on my feet within a couple of years.

If your brother has entrepreneurial genes then he should be fine. Could be a couple of years but it goes by fast. Too fast.

[whatexit]

The Virus has resulted in job openings.

The lost jobs are due to government response.

[CodeToad]

3 million UI apps was about all the State systems could handle. Expect 3 million each week for the next 12 weeks.

[RasterMaster]

LIEberals are GLEEFULLY reporting those numbers too!

[aimhigh]

more than three million people filed for unemployment from March 15 to March 21

This is a false number. The official number reflects the number of applications processed, not filed. For instance, in that week, 77,000 filed in Oregon, but the official number was 22,000 because only 22,000 were processed by staff.

During the week starting March 22, the Oregon Employment Department received 92,700 initial claims. They are weeks behind on processing these claims.

[daniel1212]

The Virus has resulted in job openings. The lost jobs are due to government response.

There is simply no real comparison btwn the number of workers not working due to the Virus versus those who are because of it.

[daniel1212]

This is a false number. The official number reflects the number of applications processed, not filed. For instance, in that week, 77,000 filed in Oregon, but the official number was 22,000 because only 22,000 were processed by staff. During the week starting March 22, the Oregon Employment Department received 92,700 initial claims. They are weeks behind on processing these claims.

Thanks for that clarification.

[aimhigh]

There is simply no real comparison btwn the number of workers not working due to the Virus versus those who are because of it.

The numbers are based on surveys, many of which were sent out at the beginning of March.