Posted on 04/23/2020 6:41:32 AM PDT by knighthawk
Another 4.4 million Americans filed for unemployment claims last week, the Labor Department reported Thursday, as massive job losses caused by the coronavirus pandemic continued to grow.
The new report, which covers the week ending April 18, brings total job losses since the virus outbreak triggered widespread stay-at-home measures five weeks ago to more than 26 million, erasing the entirety of the 22.78 million labor market gains since the Great Recession more than a decade ago.
With a labor force that totals about 162 million people, the claims figures suggest the unemployment rate is about 16 percent, or roughly one in six Americans — significantly higher than the 10 percent peak seen during the 2008 financial crisis. The previous one-week high for jobless claims was 695,800 in 1982.
(Excerpt) Read more at foxbusiness.com ...
How many Government workers are in those millions? Zero
Well as long as everyone is perfectly safe locked in their home then all is well. The government will be bankrupt, families will be bankrupt and mentally unstable, but they’ll be safe from the coronavirus.
Talk about a Pyrrhic victory!
When the Governement workers finally get laid off then the Blue states will reopen...that’s when it matters to them.
During the height of the Depression with millions unemployed the Communists thought it would be an ideal time to get their system installed. They failed then. They will fail now.
On a side note. I love the YouTube videos out of Atlanta today. The Nazis at Youtube must be freaking...the melanin rich Americans are not following along with Herr Mayor Bottoms edicts to defy the governor. Look it up, ...black business owners all over YoutTube telling her to pound sand. Very heartening. Seeds of the rebellion are happening.
27 million people lost their jobs in 5 weeks.
BRUTAL.
The protests are going to go viral soon. Desperate people don’t care about consequences. They are going to rebel. Good for them.
A back of the envelope calculation points to perhaps a 20% unemployment rate.
“Well as long as everyone is perfectly safe locked in their home then all is well. The government will be bankrupt, families will be bankrupt and mentally unstable, but they’ll be safe from the coronavirus.
Talk about a Pyrrhic victory”!
Excellent point. Pyrrhic victories are won at excessive cost.
This situation is so very disgusting.
“Talk about a Pyrrhic victory!”
They know what they’re doing. Chaos brings opportunity.
“How many Government workers are in those millions? Zero.”
And the ones that who retired are still getting their fat cat pensions. ‘Public servants’ indeed, more like our public masters.
“Here in Illinois there is talk to keep people lockdown until June.”
The left is dreaming of FDR.
Screw unemployment. I have been contemplating retirement since my wife died a year and a half ago. My company just made the choice easy for me and offered me a nice package. I’m done the end of this month.
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