701,000 Jobs Lost in March.

[mobeau69]

Thanks Trump.

Source: CNBC

[dawg]

1. That'll look quaint next month.

[mobeau69]

2. Afraid you're right.

[vercetti2021]

3. And here we go

Expect May to go up to 5 or even 6 percent

[sop]

4. Trump's going to make Herbert Hoover look like a real job creator.

[samnsara]

5. and the employment numbers will go SKY HI when this is over and trump* will take cred..

[mobeau69]

7. It will take a long time to regain these losses.

A lot longer than the stable genius will be in office or possible walking the earth.

[ProfessorGAC]

13. Likely. Check This Out

National Restaurant Association reporting potentially 11% of the industry will close permanently. With a fairly large sample size, 3% already have. That's millions of jobs.


https://www.democraticunderground.com/100213224262

[mobeau69]

14. Yep, and check how many years it took the Dow to get back to where it was before the 1929 crash.

[Johnny2X2X]

6. Wasn't expected to be much worse

Next month will be the worst jobs report in US history.

[mobeau69]

8. Yep, it'll be in the millions.

[Johnny2X2X]

9. -100K was expected, this is from a survey from March 8th through 14th.

Wow, this was before everything was shutdown. -700K is a disaster.

[gratuitous]

15. Yes, the cut-off date for today's report was the middle of March

It's going to look a leetle bit worse next month.

[House of Roberts]

10. And yet the Dow is in the green atm.

Who can figure speculative investors?

[sop]

11. I imagine lowering labor costs can be good for the bottom line in the short-term.

[mobeau69]

12. Forward looking. Counting on vaccine.

[forthemiddle]

16. 61,000 in Health Care

And that’s also going to explode in the next month.

Something no one counted on was the unevenness of this pandemic. The vast majority of hospitals in the United States are now working on very low census. The company I work for is in the healthcare consulting arena, and they are furloughing 80% of workers. We contract workers to hospitals for short term and long term projects in the coding and auditing arena.

Now that hospitals have been required to cancel all elective and routine care, the geographic areas that haven’t been affected yet by Covid 19 are idle. This is also where a huge amount of PPEs are being stockpiled. They are in storage rooms waiting for the influx of patients they are hoping don’t arrive.

We see this phenomenon of empty hospitals with all the citizen “journalists” that are now sneaking into hospitals and videoing the almost ghost like empty wards. They are using these videos to prove to the herd that all this shutdown was a vast overreaction.