Posted on 05/08/2020 3:49:36 AM PDT by MeneMeneTekelUpharsin
KEY POINTS
Jobless claims last week totaled 3.17 million, the Labor Department reported Thursday.
Though the numbers remain elevated, it’s the lowest total since shortly after the coronavirus was declared a pandemic.
The seven-week running total is now 33.5 million.
Unemployment rolls continued to swell in the U.S. last week, though jobless claims hit their lowest level since the economy went into lockdown made to battle the coronavirus pandemic.
First-time filings for unemployment insurance hit 3.17 million last week, bringing the total to 33.5 million over the past seven weeks, the Labor Department reported Thursday. The total was slightly higher than the 3.05 million expected by economists surveyed by Dow Jones and below the previous week’s 3.846 million, which was revised up by 7,000.
Though the numbers remain stark, it was the lowest total since the second week of March, shortly after the World Health Organization declared the coronavirus strain a pandemic.
(Excerpt) Read more at cnbc.com ...
30 million people lost their jobs and most are making more than before with the 600 bucks ADDED ON to their unemployment
They know they will be working again in 6 months to a year and EIGHTY PERCENT are making MORE now with the extra 600 than their unemployment.
NO ONE in my family has been laid off..lawyers, audio visual vice president, CEO of health tech firm, nurse practitioner, accountant, teacher, administrative assistant, SALES rep, advertising space manager and ON and on are ALL working.
The big jobs have not gone away.
The jobs with 1970s salaries were lost and like I said, they’re making MORE than before for AT LEAST another 3 months.
SS recipients and SSDI recipients are making the same.
I don’t think the 1933 depression had the unemployed making 25 percent more than when they were employed.
That’s costing us 4 trillion dollars.
But these are the reasons the market is going up.
The NIH and CDC leftist infected agencies have brought America to its knees.
Good job ‘Rats..
No disconnect in that Congress and the Federal Reserve have dumped trillions of dollars and that money has to find a place to land.
America turned its back on God and sanity. A price, likely a fatal one, will be paid for such stupidity.
And that friends, is REAL news, not fake news.
Instant Cup-o-Recession. Just add media panic and stir!
We need to bring in more H1B foreigners as Americans are not smart enough so say the politicians and business ‘leaders’.
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