26 votes

3.3 million Americans file for unemployment claims, shattering records

Posted by Omnicrola
Tags: usa, welfare, unemployment, coronaviruses.covid19, work, author.jim zarroli, author.avie schneider, source.npr
https://www.npr.org/2020/03/26/821580191/unemployment-claims-expected-to-shatter-records

Link information

This data is scraped automatically and may be incorrect.

Title
Unemployment Claims Expected To Shatter Records
Authors
Jim Zarroli
Published
Mar 26 2020
Word count
597 words

9 comments

  1. [6]
    Omnicrola
    Link
    FTA: That's staggering, and all of this in only the first few weeks of the pandemic (in the US). A lot of states still haven't issued Shelter-in-Place orders, which I suspect more will be...

    FTA:

    "This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series," the department said. "The previous high was 695,000 in October of 1982." The Labor Department's records go back to 1967.

    The loss of that many jobs is expected to push unemployment to 5.5% — a level it last reached in 2o15 — but it's likely to climb even further. Goldman Sachs has predicted that the jobless rate could approach 13% during the next few months.

    That's staggering, and all of this in only the first few weeks of the pandemic (in the US). A lot of states still haven't issued Shelter-in-Place orders, which I suspect more will be forthcoming. Which will only make this even more extreme.

    11 votes
    1. [5]
      Diet_Coke
      Link Parent
      As this continues, I'm more convinced every day that most states that haven't acted yet, will fail to act until things are visibly really bad. Then they'll overreact, creating even more panic and...

      As this continues, I'm more convinced every day that most states that haven't acted yet, will fail to act until things are visibly really bad. Then they'll overreact, creating even more panic and uncertainty. What happens next, I'm not sure.

      6 votes
      1. [4]
        Omnicrola
        Link Parent
        Which is the kind of thing that the federal government is supposed to be the consolidating force for. Instead we have the Bullshitter-In-Cheif in 100% CYA mode 24/7.

        Which is the kind of thing that the federal government is supposed to be the consolidating force for. Instead we have the Bullshitter-In-Cheif in 100% CYA mode 24/7.

        9 votes
        1. [3]
          SunSpotter
          Link Parent
          The really staggering thing is that somehow his supporters have spun all of this as being the fault of the CDC, and that Trump has been doing everything that he can. I don't have a relevant...

          The really staggering thing is that somehow his supporters have spun all of this as being the fault of the CDC, and that Trump has been doing everything that he can.

          I don't have a relevant article at hand, but it's all my parents talk about, and it's what some rather conservative coworkers were saying last I saw them.

          6 votes
          1. [2]
            Omnicrola
            Link Parent
            To be fair, the CDC did screw up and deserves some harsh criticism. That still doesn't excuse the inaction, disinformation, and lies coming out of the White House.

            To be fair, the CDC did screw up and deserves some harsh criticism. That still doesn't excuse the inaction, disinformation, and lies coming out of the White House.

            4 votes
            1. [2]
              Comment removed by site admin
              Link Parent
              1. psi
                (edited )
                Link Parent
                In my opinion, /r/keep_track has the most comprehensive list I've seen of how the Trump Admin has bungled its response to the pandemic. As former Justice Department official Carrie Cordero wrote:...

                In my opinion, /r/keep_track has the most comprehensive list I've seen of how the Trump Admin has bungled its response to the pandemic.

                As former Justice Department official Carrie Cordero wrote:

                [T]he Trump administration #COVID19 response might be characterized as incompetence exacerbated by malevolence.

                (See also this article in The Atlantic.)

                7 votes
  2. [3]
    timo
    Link
    This number is insane. If you look at the historic numbers, it's absolutely unprecedented.

    This number is insane. If you look at the historic numbers, it's absolutely unprecedented.

    9 votes
    1. Omnicrola
      Link Parent
      Listening to Adam Savages podcast the other day, he described how he had tried to explain the situation to his son. His son asked "Dad is this a big thing?" And he replied "yes, this might be the...

      Listening to Adam Savages podcast the other day, he described how he had tried to explain the situation to his son. His son asked "Dad is this a big thing?" And he replied "yes, this might be the biggest thing to happen in the world since WWII".

      Which..... ya now that I think about it. The scale and impact of this event is staggering. And there really concerning part? The US is probably only just getting started.

      13 votes