Posted on 05/07/2020 5:47:56 AM PDT by knighthawk
Nearly 3.17 million Americans filed for unemployment last week, the Labor Department reported on Thursday, deepening the economic pain inflicted by the coronavirus pandemic on the U.S. workforce.
The new report, which covers the week ending May 2, pushes the seven-week total of losses since states adopted strict stay-at-home measures to more than 33 million, erasing the entirety of all jobs created during the past decade. Unemployment at this scale hasn’t been recorded since the Great Depression.
Although the number is still grim, it's the lowest amount of jobless claims since the week ended March 15.
(Excerpt) Read more at foxbusiness.com ...
They are all interconnected but the numbers that impact middle America is unemployment rate & wages. GDP growth is great but it includes productivity and automation.
It’s horrifying.
The point about states dragging their feet was exactly what I was trying to tell one particular rose colored glasses freeper more than a month ago. The moment the states locked down Trump basically ceded 100% economic power to Democrat governors. It only takes a few big blue states to remain down and the economy will crack. It’s now coming to pass.
It’s already too late. Georgia re-opened but the majority of public is too afraid to go out - and will remain so as long as the MSM keeps up the narrative. There is no fix for this.
It’s not as if Trump didn’t help the media achieve it’s goal. Every single time he uttered the “2.2 million deaths projected...” I cringed. He put WAY too much trust in Fauci & Birx and now we are all going to pay a very heavy price for it.
Even worse is that Trump will be left holding the bag in the end. No matter what, it will be blamed on him.
Cries of joy from those who hated the fact that Trump had built the economy up way better than it had ever been before.
Completely agree. If he has any proof that he has been played he better level with the American people pronto.
Well it looks like I was right - I am going to be buying futures on wed from now on as the federal reserve will not let the Dow 30 to go down. The whole market is rigged and when this bubble pops we will all suffer. 100 million unemployed should have the Dow at 100000. Trump calling for negative interest is going to kill savers.
Everything you posted is correct.
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