Worst Unemployment Rate Since Great Depression

We’ve been watching the numbers add up for over a month. Open. The. Economy. Now.

With much of the American economy in self-imposed shutdown to prevent the spread of coronavirus, April’s colossal surge in unemployment delivered a historic blow to workers.

The US economy lost 20.5 million jobs in April, the Bureau of Labor Statistics said Friday — by far the most sudden and largest decline since the government began tracking the data in 1939.
Those losses follow steep cutbacks in March as well, when employers slashed 870,000 jobs. Those two months amount to layoffs so severe, they more than double the 8.7 million jobs lost during the financial crisis.
For many Americans who lost their jobs and their homes in the 2008 financial crisis, this moment reopens old wounds. It took years to rebound from those setbacks. When the economy eventually did crawl back, US employers added 22.8 million jobs over 10 years — a victory for all those who had weathered the Great Recession.
Now, the coronavirus pandemic stings not only because of the public health crisis it has inflicted — but also because it wiped out nearly that whole decade of job gains in just two months.

22 Responses to Worst Unemployment Rate Since Great Depression

  1. Jason says:

    Its funny how the simple minded are already blaming the unemployment rate on Trump.

  2. Jason says:

    https://wkow.com/2020/05/05/dhs-announces-three-more-criteria-to-reopen-wisconsin/

     

    It’s quite obvious that Evers is enjoying the state of the State and wants to keep it as is.   They are moving the goal posts every day.

  3. jjf says:

    Jason, it’s funny how people are blaming the unemployment on Evers.

  4. Jason says:

    I don’t know about the rest of the country, but I know at least 511,000 in Wisconsin are.  They’re probably not too wrong… I’m pretty sure it’s his signature on the order to close bars, restaurant dining rooms, nail salons, barbers, spas, clothing stores, sporting goods stores, entertainment venues, zoos, museums, bowling alleys, golf courses, gyms, many state parks.

    Are you saying it’s not his signature?

  5. Mar says:

    Troll jjf, who shut down the State of Wisconsin? Who refuses to open up the economy? Who keeps making excuses not to open up the economy?

  6. jjf says:

    Man must sacrifice his life for the state and the economy, right?

  7. Jason says:

    Pivot #1 by Troll Johnny.

  8. Mar says:

    You first, jjf.

  9. jjf says:

    And if you don’t think you should be working on Saturday, then don’t bother showing up for work on Sunday.  And also if you don’t go back to work now that we’re open, your unemployment stops, and if you don’t think it’s safe to work side-by-side in the cold moist air down at the Pack, then we can fire you.

  10. Jason says:

    Don’t worry Johnny, the Union Dues will protect them.

  11. dad29 says:

    Man must sacrifice his life for the state and the economy, right?

    Nope.  Don’t go back to work.  Simple–so you never thought of it.

    And yes, if you refuse work, your UC gets stopped.  That’s been policy since 1910 or so.

  12. jjf says:

    Yeah, I think the distancing will continue for many people.  A few will rush off to the Golden Corral and touch all the spoons.  How will you change your life when lockdown ends, Dad29?

  13. Mar says:

    So, jjf is ripping on customers at Golden Corral.
    Apparently, he doesn’t know that they now put the spoons at the table, wrapped in a napkin.
    But I guess it makes jjf feel superior to those customers who do eat at Golden Corral. Like veterans, older people and other people on limited budgets.
    Must be nice to look down on other people.

  14. jjf says:

    Serving spoons, Mar.  It’s a buffet.

  15. Pat says:

    OOPS.

  16. dad29 says:

    How will you change your life when lockdown ends, Dad29?

    Aside from haircuts, my life has not changed a bit, nor will it change later.

    But since you’re afraid of the eeeeeeeeeeeevil china-bug, stay indoors and under your bed.  Let the soft glow of a monitor keep you company.

  17. Mar says:

    Funny, jjf, you didn’t mention the serving spoons but still doesn’t excuse the fact that you look down on those going to Golden Corral with disdain.

  18. jjf says:

    Mar, where did I say I look down on those going to Golden Corral?  I went to one as recently as February.  Are you assuming again?

  19. Mar says:

    “A few will rush off to the Golden Corral and touch all the spoons.”
    Gee, I wonder where I could have gotten that idea?

  20. Pat says:

    I’ve never been to a Golden Corral, though I’ve seen commercials. I had no idea it was a restaurant for low income people. Why would anyone label it that way? Maybe an elitist?

  21. jjf says:

    It’s a place, Mar, a place where people are shoulder-to-shoulder, and where in the Before Times, there are dozens of shared utensils at a buffet.  Would you like more examples?

  22. dad29 says:

    It will be only a memory to Jiffy who will live in today’s times forever, hiding under his bed to avoid the eeeeeeeeeeeeevil ChineeViree.

     

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