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EarthFirst

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Current location: Rochester, New York
Member since: Wed Dec 21, 2016, 06:50 PM
Number of posts: 2,290

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A message from Samuel L Jackson...

"Unemployment will remain elevated as workers learn of generous benefits..."

The COVID-19 pandemic rages on, and the damage being done to the U.S. economy is expected to only get worse.

The U.S. Labor Department will release fresh data at 8:30 a.m. ET on Thursday morning that will show the effect of the novel coronavirus on employment in the U.S. The number of Americans filing for unemployment benefits is expected to spike to a record-breaking 3.7 million for the week ended March 28, up from 3.283 million the week prior. Prior to the week ended March 21, the previous record was 695,000 claims filed the week ended October 2, 1982.

Though consensus estimates were for 3.7 million initial jobless claims for the week ended March 28, the range of estimates on Wall Street are wide, but the major firms expect the number to be in the millions. On the high end, Goldman Sachs expects 6 million claims for the week. Not far behind are Bank of America and Pantheon Macroeconomics expecting 5.5 million claims, while on the lower end, JPMorgan Asset Management predicts 2 million claims.

Claims are likely to remain elevated throughout April, especially as more business owners and workers learn about the more generous unemployment insurance benefits included in the Phase 3 legislation,“ Goldman Sachs economist David Mericle argued.

https://finance.yahoo.com/news/coronavirus-covid-weekly-initial-jobless-claims-march-28-165758189.html

No; the workforce isn’t terrified of COVID; they’re just looking forward to the opportunity to sit home; lazy; and collect the generous outpouring of unemployment benefits...

/sarcasm

We lost one full time income permanently; our retirement savings decimated; and our healthcare evaporated from the fallout to the pandemic.

I can assure you that this “generous” conciliatory gesture is devastating to our household.

Who writes this sh*t?

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