Nearly 10 Million Filed For Unemployment In Last 2 Weeks

Source

The number of new people claiming unemployment benefits totaled a staggering 6.648 million last week — doubling the record set a week earlier, the Labor Department said Thursday.

In the prior week, ending March 21, a revised 3.307 million initial claims were filed. But analysts said even that lofty number was low because many states' employment websites were overwhelmed, making it difficult for applicants to get through. A year earlier, the weekly total was just 211,000.

The jobs are gone, the stock market is collapsing. Millions of people that had health insurance through their employer just lost it in the midst of a pandemic. What happens in the coming weeks will dictate American national policy for years to come.

How will the people react?

a reply to: links234

It may finally be sinking in that the "cure" is 1000x worse than the disease.

a reply to: links234

Millions of people that had health insurance through their employer just lost it in the midst of a pandemic.

It’s almost like healthcare shouldn’t be tied to a job you may or may not be able to have depending on which way the wind blows.

Stock market went up today. Filing unemployment is not job loss either so totally misleading. The economy is hobbling but it will stop within weeks. People will go back to work. They do however needs some help to hold them over. Big deal. The jobs are not gone. Predictions are it will roar back even bigger as this virus made it crystal clear some industries will have to be brought back for good.

a reply to: links234

How will the people react?

How do desperate people usually react? 9 meals from Anarchy....ring a bell?



www.theguardian.com...

a reply to: Stupidsecrets

Agree completely. I'm looking to borrow from my TSP for a wedding, so I check on this multiple times a day. The losses were initially bad, but there have been consistent signs of growth ever since. In a few months this will have all blown over. Not worried.

1929 divided by 1984 = the worst economic depression since somebody thought of a police state !! 😈 👿

HU GE! Total Cost of Coronavirus Shutdowns and Lockdowns Estimated at $34 Trillion - More than the US GDP!


United Nations wants 10% of entire planet’s annual income in fund for coronavirus response


They sure do know how to burn money fast, and then the united nations start even asking more money ......This is madnes!

The domestic terrorists at CNN are pretending to be amazed by this figure... and how fast it happened.

originally posted by: underwerks
a reply to: links234

Millions of people that had health insurance through their employer just lost it in the midst of a pandemic.

It’s almost like healthcare shouldn’t be tied to a job you may or may not be able to have depending on which way the wind blows.

But government bad. Private sector good. A predatory for profit insurance system that serves investors and executives is objectively superior to state funded healthcare that heals the sick.

a reply to: bender151

In a few months this will have all blown over. Not worried.

How many months can a small business maintain "no business" ? Even trump himself said small business is the backbone of our economy. Unless something drastic happens, the mkt. will eventually crash. I't can't exit on the BS trickle down float for much longer, especially that the trickle down is all dried up.

Here is a novel suggestion. Governors and Mayors who shut down their cities and states but are still getting paid, should take note and follow this advice.

mobile.twitter.com...

originally posted by: carewemust
Here is a novel suggestion. Governors and Mayors who shut down their cities and states but are still getting paid, should take note and follow this advice.

mobile.twitter.com...

Good idea. Though I would pay them a minimal liveable wage so they can keep doing their job.

Extend it to ceos and executives doing mass layoffs with not a shred of executive austerity and you have a winning idea.

originally posted by: jjkenobi
a reply to: links234

It may finally be sinking in that the "cure" is 1000x worse than the disease.

yeah accept this is all an ongoing false flag designed to do exactly what it is doing.

This is an attack on the world economy to make a one world government like everyone has been saying for years.

It blows my mind that people don't see this for what it is, especially on a conspiracy website.

The cure, and the bioweapon are doing their jobs perfectly. Add the media on top of that and nations full of mind controlled idiots and you have yourself the perfect combination to take over the world.

originally posted by: carewemust
Here is a novel suggestion. Governors and Mayors who shut down their cities and states but are still getting paid, should take note and follow this advice.

mobile.twitter.com...

and congress is going on vacation...

And people still believe the government is here to help us? We need to abolish the federal government all together.
Hopefully their own weapon kills them all.

originally posted by: links234
Source

The number of new people claiming unemployment benefits totaled a staggering 6.648 million last week — doubling the record set a week earlier, the Labor Department said Thursday.

In the prior week, ending March 21, a revised 3.307 million initial claims were filed. But analysts said even that lofty number was low because many states' employment websites were overwhelmed, making it difficult for applicants to get through. A year earlier, the weekly total was just 211,000.

The jobs are gone, the stock market is collapsing. Millions of people that had health insurance through their employer just lost it in the midst of a pandemic. What happens in the coming weeks will dictate American national policy for years to come.

How will the people react?

This certainly seems like the trigger for SHTF... but we're not going to hear that from any world leader. It will gradually sink in over time, and when you do realize it, it's probably too late to make any life-altering changes because the checkpoints will be all over the nation.. as it is right now in the Philippines. We're stuck where we are indefinitely.

If you have an escape to get out of urban areas, and/or have friends that could welcome you - now is the time to act. I'm not trying to fear-monger, but it's certainly better to act now than have regrets in the future for doing nothing but waiting it out.

Trump is targeting the end of the month, which as it is right now, feels like a year away. Health experts will push for even longer social distancing time frames, possibly extending this out until well into the summer. I can't even fathom the repercussions of the staggering unemployment we now have going on that long. When people can't pay rent and their car payment, eventually their lenders can only stay solvent for so long, depending on how well they are capitalized. If that continues, we are looking at certain financial collapse. The government is throwing so much money at this, but its not sustainable for multiple months. One thing that does give me hope---the media is controlled by only a few players: Comcast, Disney, AT&T and Viacom CBS. Once they deem that their businesses can't take it anymore, I think they will start reducing virus coverage to calm the hysteria.

a reply to: links234

Who are these people? Servers in restaurants? The companies they work for are messing the whole thing up. Trump says the company is supposed to keep paying the workers, not fire them. This proves that most companies don't care one bit about the workers. Either that, or the companies are not well capitalized and don't have the money to pay the workers when there is no business to bring income. But, actually, even if the owner of the company draws out the last penny every four weeks, that owner should have tons of cash in his personal account and that owner should inject capital into his business account for the sake of the workers. That was what Trump wanted the owners of small businesses to do. The owner of an idling business was supposed to pay the rent, utilities, etc. and payroll and then ask the Small Business Administration for a "loan" in the amount of all the expenses. Trump is asking small business owners to pony up the money up front and then get full reimbursement on the back end with a "loan" that would be forgiven. This was the method for bailing out the workers, via the owners of small businesses, who we all know just say "F those shmucks, lay 'em off, let 'em get a small pitiful unemployment check". Seiously, most of the small business owners care zero about their workers. This is supposed to be a bailout for the low end workers via the small business owners and it is not going to work in most cases. Trump knows this and that is why he is sending out the $1200 direct to EVERYBODY under a certain income level. This is also proving that most small businesses are undercapitalized and the owners are themselves "shmucks" that spend every penny chasing a high life style. Most people, even the ones making a lot of money, are living paycheck to paycheck . Sad. Damned sad. America is full of bad kings who own and operate slave plantation businesses.

People don't even understand how this bailout for small business employees is supposed to work. They've never owned a business and they don't operate their personal finances like a business, which is what it is. A lot of people need a beginner's course like what Dave Ramsey teaches. How many people have six months of living expenses in a money market account? You should be able to live at least six months maintaining your current lifestyle with zero income. For retirement you need income streams coming every month also because at that point you have zero income from active work. People don't think about this correctly. If at all.

originally posted by: Generation9
People don't even understand how this bailout for small business employees is supposed to work. They've never owned a business and they don't operate their personal finances like a business, which is what it is. A lot of people need a beginner's course like what Dave Ramsey teaches. How many people have six months of living expenses in a money market account? You should be able to live at least six months maintaining your current lifestyle with zero income. For retirement you need income streams coming every month also because at that point you have zero income from active work. People don't think about this correctly. If at all.

I own a restaurant.
And you have no clue what you are talking about.

we had to shut down because even a week before the quarantine business died by 3/4. You have absolutely no clue how small business runs. Most restaurants resort to selling drugs illegally to get by because taxes are so #ing high. No #ing way I'm going to keep paying my employees out of my pocket when they aren't even working.
We ran business for 8 years without going into debt and paying everyone on time every every week. without doing anything illegal.

We would need to drop 20 grand just to stay in business not including payroll. No possible way i would gamble on that considering this virus could shut us down for 4 more months. Want us to keep paying employees out of our pocket for 6 months.
you're delusional.