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Gender: Male
Hometown: FL
Home country: United States
Member since: Fri Jan 24, 2020, 01:37 PM
Number of posts: 1,580

About Me

Battleground state democrat. Advocate of single payer for 30 years.

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

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.
Posted by MoonlitKnight | Thu Mar 26, 2020, 12:47 AM (42 replies)
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