Why stock market is higher despite unemployment, coronavirus job loss - Business Insider

also dropped to a record low. Only about half of Americans — 51% — are employed right now. The peak of this measure was about 64% in 2000.2.5 million health-services and education workers lost their jobs.The only bright spot is that about 18 million of the 20.5 million job losses are considered temporary. At least for now, these folks think they'll be rehired when the economy improves.

This devastating jobs report raises a reasonable question that has come up often in the past few weeks:Back in February and early March, as the pandemic ravaged one industry after another, the stock market plunged by a third in five weeks.And yet, since bottoming in mid-March, the stock market has risen steadily. Now, six weeks later, it has recovered about two-thirds of its losses and is not far below its all-time high.

Second, the government's fast, aggressive financial response to the crisis — in the form of emergency aid packages from the Treasury and Congress and emergency liquidity from the Federal Reserve — has significantly limited the potential economic damage. The government aid packages haven't saved all jobs , and they won't save all US businesses, but they've helped save a lot.

In fact, one of Wall Street's best economists, Jan Hatzius of Goldman Sachs, estimates that the various forms of government aid — including enhanced unemployment benefits — will actually more than offset the income Americans have collectively lost this year. This aid will not be shared equally, so there will still be plenty of individual pain, but, in aggregate, a lot of the economy's consumer spending should be maintained.

hblodget Because conservative people and traders dont take any notice of the Liberal/Democrat Fake News outfits listed below pushing negative propaganda that the world is coming to an end.

hblodget Cause average feeling is that things will get back to normal fast. Average is wrong.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why I spent almost $600 in a month on services I didn't get - Business Insider'These are expenses that were already in my budget, so it isn't hard to keep paying them. I think of these payments as insurance against the world completely falling apart. I just hope it's enough.' This screams of privilege
Source: BusinessInsider - 🏆 729. / 51 Read more »

Why now may be the perfect time to start your business, according to the bestselling author of The Lean StartupThe best time to be an entrepreneur is 'when everyone is running for the exits,' according to The Lean Startup's bestselling author, Eric Ries. MakeIt Yeah don't let a little thing like a deadly virus with no cure, no vaccine, questionable immunity, and side effects like heart trouble stand in your way. MakeIt 😂😂😂.. start your business so the rug can get pulled from you with a plandemic.. The financial media and their corporate cronies are hilarious. MakeIt Been trying to use lean startup ideas for almost a decade now. With nivelPAD is the first time a reach PMF (also, perhaps founder/market fit too, which is a thing too) so quickly after validation and iteration. Feels like the first time you drive a long distance on your own 💪🏻😎
Source: CNBC - 🏆 12. / 72 Read more »