22 Million In Four Weeks: America’s Jobless Crisis Spirals
As expected, America's unemployment crisis deepened, jobless claims data out Thursday showed.
The number of Americans filing for unemployment benefits surged by 5.245 million last week, slightly below estimates, but still a dire figure to be sure.
This marks the fourth consecutive week of claims hitting levels unseen in the history of modern economic statistics. There's a sense in which the fortunate will become numb to these figures, but it's important not to lose track of the fact that this
The purchasing power of 22 million workers gone in 1 month. Impossible to wrap your arms around that number and it isn’t over!
It’s a depression, BUY STONKS!!!
And then there are the millions more like me, small business owners who have zero income, expenses continuing, and not eligible for unemployment or the SBA payroll protection plan. Neither counted nor helped.
So true. Same boat here. Disaster.
@Caribbean Breeze Sorry to hear, what is your plan and how much longer can you ride this out? Why do you not qualify for the PPP funds?
Privateer, I have a small S corp and pass through the profits, no actual payroll or other employees. I and some friends in similar situations qualify for and applied for the SBA grant program, but no one I know has heard anything back on it in weeks. I’ll be ok, fortunately my wife works in healthcare so her income is fairly safe. I’m still a little young to be feeling like I’m retired though. 🙂
The US has 4.25% of the world population, but 31% of the world’s confirmed COVID-19 cases.
So we’re #1. So much winning. He said we’d beg him to stop all the winning. Ok, he was right. I’m begging him to stop!
#maga