6.6 million jobless claims.
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This is not meant to be a political statement at all, but I wonder how much credit Trump will claim in the coming months when folks "get off unemployment".
It'll be something like "No president has ever helped so many people find employment again in the history of this country, some say in the history of the world."
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Unemployment rolls continued to swell in the U.S. last week, though jobless claims hit their lowest level since the economy went into lockdown made to battle the coronavirus pandemic.
First-time filings for unemployment insurance hit 3.17 million last week, bringing the total to 33.5 million over the past seven weeks, the Labor Department reported Thursday. The total was slightly higher than the 3.05 million expected by economists surveyed by Dow Jones and below the previous week’s 3.846 million, which was revised up by 7,000.
The latest jobless claims numbers come a day before the Labor Department releases its nonfarm payrolls report for April. Economists surveyed by Dow Jones expect a plunge of 21.5 million, easily the worst month in U.S. history, with the unemployment rate surging to 16%.
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This is making the rounds on pilot sites
I wonder if it is real, maybe it is
https://ukaviation.news/qatar-airways-you-are-no-longer-required-heres-a-130000-bill/
@ukaviation said: >
Qatar Airways: You are no longer required, here’s a £130,000 bill
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Reading about current jobless claims makes me think about the bad economy overall.
And I hate to read about people losing their livelihood.
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https://www.bea.gov/sites/default/files/2020-05/gdp1q20_2nd.pdf
Real gross domestic product (GDP) decreased at an annual rate of 5.0 percent in the first quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1 percent.
The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the decrease in real GDP was 4.8 percent. With the second estimate, a downward revision to private inventory investment was partly offset by upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment (see "Updates to GDP" on page 2).
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@George-K said in 6.6 million jobless claims.:
https://www.bea.gov/sites/default/files/2020-05/gdp1q20_2nd.pdf
Real gross domestic product (GDP) decreased at an annual rate of 5.0 percent in the first quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1 percent.
The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the decrease in real GDP was 4.8 percent. With the second estimate, a downward revision to private inventory investment was partly offset by upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment (see "Updates to GDP" on page 2).
If you think Q1 was bad with 5% decline how does 40% decline projected for Q2 sound?
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@Loki said in 6.6 million jobless claims.:
The white collar job layoffs are coming and furloughs are turning into layoffs.
Can workers who are "furloughed" apply for unemployment benefits?
If they can, then the transition from "furloughed" into "laid off" is merely a nominal change that will not affect the employment statistics.Still bad for the furloughed/laid off people though.
