Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Latest Breaking News
Showing Original Post only (View all)The upcoming job losses will be unlike anything the US has ever seen [View all]
Source: CNBC
The coronavirus crisis is likely to result in layoffs on a scale that the U.S. has never seen before.
Economists expect April to be the first reporting month when the damage starts to show up.
Forecasts for that month range from 500,000 to 5 million.
The worst month during the financial crisis saw nonfarm payrolls decrease by 800,000.
Weekly jobless claims numbers are expected to be so bad that the White House has reportedly asked state officials to delay releasing precise counts.
Read more: https://www.cnbc.com/2020/03/20/the-upcoming-job-losses-will-be-unlike-anything-the-us-has-ever-seen.html
This article refers to monthly numbers but tomorrow morning the Treasury will release the weekly numbers, expected to be from 1-5 million.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
42 replies, 6895 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (30)
ReplyReply to this post
42 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
The upcoming job losses will be unlike anything the US has ever seen [View all]
MoonlitKnight
Mar 2020
OP
I was reading an economist the other day (forget which) who stated that the very thing
Hestia
Mar 2020
#17
He'll end his term with the highest unemployment and lowest stock market seen in modern times.
LudwigPastorius
Mar 2020
#18
The highest rate of U.S. unemployment was 24.9% in 1933, during the Great Depression.1
MoonlitKnight
Apr 2020
#41