09-04-2020, 02:05 PM
Yesterday's initial unemployment claims were 881,000, about 4x the normal level, and 130k less than last week's number.
While the number of employed people went up by 1.8 million, the number of people receiving a government unemployment check went up by by 2.2 million, to 29.2 million people. One year ago, that figure was 1.639 million.
The labor force in the USA reached 164.6 million, just prior to the COVID pandemic.
29.2/164.6 = 17.7% of the workforce are receiving a government check. Not sure how that tracks with 8.4% unemployment rate.
https://www.dol.gov/ui/data.pdf
It's almost as if Fed unemployment figures are bogus. I'm sure that can't be right, Trump never, ever lies and I'm sure his government doesn't cook the books either...
While the number of employed people went up by 1.8 million, the number of people receiving a government unemployment check went up by by 2.2 million, to 29.2 million people. One year ago, that figure was 1.639 million.
The labor force in the USA reached 164.6 million, just prior to the COVID pandemic.
29.2/164.6 = 17.7% of the workforce are receiving a government check. Not sure how that tracks with 8.4% unemployment rate.
https://www.dol.gov/ui/data.pdf
It's almost as if Fed unemployment figures are bogus. I'm sure that can't be right, Trump never, ever lies and I'm sure his government doesn't cook the books either...
Audaces fortuna iuvat