8 votes

US lost 701,000 jobs in March; much worse to come

Posted by Omnicrola
Tags: economics, economy, unemployment, usa, work, author.scott horsley, source.npr, short read
https://www.npr.org/sections/coronavirus-live-updates/2020/04/03/826096581/jobs-data-will-be-from-way-back-when-things-were-normal-3-weeks-ago

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Title
Jobs Data Will Be From Way Back When Things Were Normal: 3 Weeks Ago
Authors
Scott Horsley
Published
Apr 3 2020
Word count
368 words

1 comment

  1. Omnicrola
    Link
    FTA: April's numbers are going to be... tragic is probably the best word. Every day I feel lucky to have the job I have at the place I have it. I'm extraordinarily secure and able to work with all...

    FTA:

    The unemployment rate rose from 3.5% in February to 4.4%. That's the highest the jobless rate in nearly three years, and marks the sharpest increase since 1975.

    "That will only be the tip of the iceberg," said Lydia Boussour, senior U.S. economist at Oxford Economics. "We think April will be really the month where you will see the full magnitude of that labor market collapse."

    April's numbers are going to be... tragic is probably the best word. Every day I feel lucky to have the job I have at the place I have it. I'm extraordinarily secure and able to work with all my coworkers remotely even though that was not how this job is "supposed" to work. I look around my neighborhood and wonder which of the houses will be vacant in 6 months time, and I feel sad.

    3 votes