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Sat Mar 21, 2020, 09:54 AM

The upcoming job losses will be unlike anything the US has ever seen


(CNBC) When the damage the coronavirus inflicts on the U.S. jobs market becomes clearer, it could be unlike anything the country has ever seen.

Judging by numerous forecasts from economists, the avalanche of furloughs will easily break the record for most in a single month.

Upcoming weekly jobless claims will shatter the standards set even during the worst points of the financial crisis and the early-1980s recession, with Bank of America forecasting a total of 3 million when the number is released Thursday. Those figures are expected to be so bad, in fact, that the Trump administration, according to several media reports, has asked state officials to delay releasing precise counts. ........(more)

https://www.cnbc.com/2020/03/20/the-upcoming-job-losses-will-be-unlike-anything-the-us-has-ever-seen.html?__source=sharebar%7Cfacebook&par=sharebar



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Reply The upcoming job losses will be unlike anything the US has ever seen (Original post)
marmar Mar 2020 OP
democratisphere Mar 2020 #1
gibraltar72 Mar 2020 #2
Bernardo de La Paz Mar 2020 #3
gibraltar72 Mar 2020 #5
Amishman Mar 2020 #4

Response to marmar (Original post)


Response to marmar (Original post)

Sat Mar 21, 2020, 10:40 AM

2. But the numbers will remain classified.

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Response to gibraltar72 (Reply #2)

Sat Mar 21, 2020, 10:50 AM

3. Not classified, but tRump's team has asked states to suppress the number for a week. For stocks. .nt

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Response to Bernardo de La Paz (Reply #3)

Sat Mar 21, 2020, 10:55 AM

5. It was slightly but only slightly tongue in cheek.

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Response to marmar (Original post)

Sat Mar 21, 2020, 10:54 AM

4. This will implode construction in particular

No one is going to be willing to spend to build new structures

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