12-04-2020, 06:10 PM
(12-04-2020, 05:01 PM)teejers1 Wrote:(12-04-2020, 04:44 PM)Mick Wrote:(12-04-2020, 04:40 PM)BostonCard Wrote: The unemployment rate drops from 6.9 to 6.7, and there were 245,000 new jobs, which was dramatically less than expected.
https://www.washingtonpost.com/business/...mployment/
BC
Initial unemployment claims was 712,000. So only about 3x the new jobs.
https://www.dol.gov/ui/data.pdf
The total number of people claiming benefits in all programs for the week ending November 14 was 20,163,477, a decrease of 349,633 from the previous week. There were 1,573,485 persons claiming benefits in all programs in the comparable week in 2019.
Unemployment claims for the week ending November 14, 2019: 1,573,485
Unemployment claims for the week ending November 14, 2020: 20,163,477
Is that really right, Mick?
If so, WOW! Are as Belushi might say: "Holy . . .
Yup that's right. And my comment in red above was misleading, comparing a week's worth of initial unemployment claims with a month's worth of new jobs (which, if you read the article, was half of what they'd expected.
The more accurate comparison would be about 3,000,000 initial unemployment claims against 245,000 new jobs in the month of November. And many of the original stimulus funds will be completely closed as of 12/31. The nationwide eviction moratorium will also be over, same with the college loan repayment relief. Which takes your breath away. Well, my breath anyway. How does 5,000,000 new homeless sound?
Audaces fortuna iuvat