Less than half of US workers will have a wage in May, economist says - Business Insider

Recent job losses due to the coronavirus pandemic could mean that less than half of working-age Americans will be earning a wage in May, James Knightley, chief international economist at ING, wrote in a Thursday note.

In an election year, the widespread unemployment will likely mean that the call for politicians to reopen the economy will grow, irrespective of health advice, according to Knightley. Visit Business Insider's homepage for more storiesThe millions of Americans who have lost their jobs in recent weeks due to the coronavirus pandemic will have a devastating impact on the economy going forward as workers are left without pay.

"Thankfully this is below the 24.9% peak experienced in 1933, but we have to remember that one third of Americans aged 18-65 are not classified as employed or unemployed – they are students, early retirement, homemakers, carers or sick," Knightly wrote in a Thursday note.

And roll that observation into the background of average American family unable to come up with $500 in cash and highest consumer debt since 2008

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

People posting oil memes after US price drops below $0 for first time - Business InsiderAs oil prices plummeted as a result of the coronavirus pandemic, people made memes on Twitter about becoming oil barons for mere pennies. BrianRivera45
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

US weekly jobless claims preview: another week of millions unemployed - Business InsiderThere is 'probably no single metric you can look at' to better get a broad sense of how the economy is doing than unemployment, said Jason Thomas. Finally, this is real, i never believed until i made my withdrawal, i was so scared to invest but it real...all thanks to Matthew61158286
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Spotify took first place in brand intimacy among US consumers - Business InsiderSpotify's personalization and social features fueled it to the No.1 spot on brand intimacy –– and that high user trust could attract ad dollars.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

US weekly jobless claims hit TK million as coronavirus layoffs persist - Business Insider'There's no industry that looks like it's totally unscathed by this,' said Martha Gimbel, an economist at Schmidt Futures. One day I should start getting the PUA NY says I'm eligible for.... right? scientist need to step up on their efforts on finding a way to curve this virus or more people will lose their jobs.. You guys wanted national spot light.. well you got it! 🌏👀.. the world is watching you!
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »