Weekly initial jobless claims fall below 1 million for first time in 21 weeks

released last week by the Bureau of Labor Statistics, showed that total unemployment is currently at 16.3 million, a rate of 10.2 percent. In February, that number was 3.5 percent.

Economists have frequently spoken of their concern that the nation's workforce stands to see a massive shift amid the coronavirus fallout, with many workers forced to retrain or learn new skills in order to gain employment as their sector sees permanent contraction. “It is certainly possible that we don’t come back, at least in certain sectors, in the same way as before. That will mean a large number of workers are not able to go back to the same jobs they had before the pandemic," Mary Daly, president of the San Francisco Federal Reserve, said Wednesday during an online conference.

In a separate conference, Dallas Fed President Robert Kaplan said that if Americans do not comply with public health orders to contain the virus, unemployment will stay at around 9 percent until at least 2021.Lucy Bayly

BOOOOOM U POS CRIMINAL NBC

And now we must wait until September 8 or after Labor Day to see if any second stimulus package is truly passed. I guess also because there is not enough taxes collected to support the 25% states cannot afford in unemployment. And states don't want to borrow to wait until Sept.

This is still 30% higher than any week during the Bush recession.

That photo adds NOTHING to the story.

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Weekly Unemployment Claims on Track for 21 Weeks Above 1 MillionUnemployment claims likely held steady at historically high levels last week, an indication companies continued to lay off workers nearly five months into the pandemic. The unemployed still have access to unemployment benefits. And yet we are told that we are turning the corner on everything related to the virus which can’t possibly be true with these numbers. Either the media or the government is not being truthful. All we want is the truth, why is that so hard? TheTruth
Source: WSJ - 🏆 98. / 63 Read more »