05-21-2020, 10:00 AM
I think we can put the false dichotomy of lives vs. jobs to rest, because lockdown or no lockdown, we were never going to avoid an economic catastrophe in the midst of a global pandemic:
[tweet]https://twitter.com/politico/status/1263503592318816256?s=20[/tweet]
[tweet]https://twitter.com/politico/status/1263503592318816256?s=20[/tweet]
Quote:Georgia's new jobless claims have been going up and down since the state reopened, rising to 243,000 two weeks ago before dipping to 177,000 last week. The state cited new layoffs in the retail, social assistance and health care industries for the continued high rate of jobless claims that have put it ahead of other states in the proportion of its workforce that has been sidelined.
Georgia, which began pushing to resume economic activity on April 24, presents an early reality check as the White House amps up pressure on governors to lift shutdown orders and President Donald Trump’s economic advisers predict jobless claims will nosedive after the reopening. The state’s persistent unemployment numbers suggest that government restrictions aren’t the only cause of skyrocketing layoffs and furloughs — and that the economy might not fully recover until consumers feel safe.
