Coronavirus economic updates: 3.28 million unemployment filings shatter 1982 record of 695,000

Pandemic, Us Department Of Labor, Stock Market, Us Department Of Labor, Health, Employment

The health crisis has increasingly become an economic one.

Pandemic, Us Department Of Labor

3/27/2020

Asked about record jobless claims in a report released this morning, Pres. Trump says, 'Well, it's nobody's fault, certainly not in this country.' Trump then predicts 'you'll see a very fast turn around once we have a victory' over the pandemic.

The health crisis has increasingly become an economic one.

Markets continue to rally U.S. financial markets marched higher on Thursday despite the soaring unemployment numbers. The Dow Jones Industrial Average closed up more than 1,350 points, or 6.3%, while the S&P 500 gained 6.2% and the Nasdaq rose 5.6%. The equities rally Thursday builds off of back-to-back gains on Wednesday and Tuesday. Lawmakers announced on Wednesday they'd reached a deal on a $2 trillion stimulus package to help buoy the economy. U.S. equity markets have seesawed for weeks as the COVID-19 outbreak has sowed uncertainty among investors. All three major U.S. indices plunged into bear market territory amid the pandemic. Orange juice prices skyrocket Orange juice futures have spiked more than 20% over the past month, as the global health crisis possibly has people seeking more doses of vitamin C. "Industry sources suggest that demand has improved as consumers are returning" to frozen concentrated orange juice, Jack Scoville, vice president at the Price Futures Group, wrote in a memo Thursday."The increased demand has really turned the market around." "Crop yields and quality should be high for Florida this year," he added. Record number of Americans file for unemployment A record number of workers -- 3.28 million -- filed unemployment claims in the week ending March 21, according to U.S. Department of Labor data released Thursday. That's an increase of 3 million from the previous week. A graphic released by the Associated Press shows claims for temporary financial assistance from state governments by individuals who have been laid off. The gray vertical areas show the duration of the economic recession. A graphic released by the Associated Press shows claims for temporary financial assistance from state governments by individuals who have been laid off. The gray vertical areas show the duration of the economic recession. AP Among the hardest hit sectors was the service industry, particularly accommodation and food service. Nearly every state cited COVID-19 as the reason for skyrocketing claims. Health care and social assistance, arts, entertainment and recreation, transportation and warehousing or manufacturing industries were also heavily impacted, the Labor Department said. Thousands of businesses have been forced to close amid government-mandated stay-in-place orders. The staggering figure comes as the unemployment rate was near a 50-year low just weeks ago . The previous record for weekly unemployment filings was 695,000 in 1982. Thursday's total is three times the combined number of people employed by Apple, Target, General Motors, Boeing and McDonalds. Visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns in New York, March 18, 2020. A record-high number of people applied for unemployment benefits last week as layoffs. Visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns in New York, March 18, 2020. A record-high number of people applied for unemployment benefits last week as layoffs. John Minchillo/AP, FILE "The coronavirus outbreak is a truly unprecedented event in American economic history, flash-freezing the economy by forcing businesses to shut down and putting millions of American workers out of jobs," Daniel Zhao, Glassdoor's senior economist, said in a statement Thursday. "Most historical comparisons of this scale are inadequate. The closest would be natural disasters like major hurricanes," he added."However, as today's report shows, the coronavirus outbreak is economically akin to a major hurricane occurring in every state around the country for weeks on end." Read more: ABC News

He truly thinks he’s god....but actually we know he is the devil, and his money is his only concern Actually it is. It is US governments fault. This could & should have been contained to China only. But 'They deserve to come home'. And bring a virus with them. ... it’s trumps fault it got this out of hand. He was briefed in December, did nothing for almost three months until the market crashed. Why?

When Trump is no longer president, that is Can you please get Congressman Massey in line? When we have victory in this war, draft dodger Trump can get his victory parade, we can roll out all the ventilators he never sent, our doctors and nurses can march in all their PPEshortage and then we can meet at Arlington and bury the virus.... Trump is a disgusting human

He’s such an embarrassment! Him and his base make us all look bad! When those of you who support this evil person realize he’s all about himself, the nation will be much better for it!😑 TrumpPressConf TrumpMadness TrumpVirus TrumpMeltdown As a Chinese citizen, seeing the remarks of the President of the United States is as funny as watching a comedy.

You watched what happened in China, Italy and many parts of the world for several months without any concerns and contingency measures. It is normal for the general public do not prepare for this outbreak but it is odd that this administration has no responsibility!

28 More Tweets About Quarantining And The Coronavirus That I'm Laughing At In Between All Of My Anxiety Attacks28 More Tweets About Quarantining And Coronavirus That I'm Laughing At In Between All Of My Anxiety Attacks Being retired is like being in semi self isolation, so it’s no big deal.

Every time Trump speaks I feel the urge to throw a pie at the TV he’s such a clown !!! realDonaldTrump dude, you are delusional and need a psych evaluation STAT. He’s blinking more than Birx now. Is that the Cloroquine? I sure hope it will be a quick turn around 💯 Fuckface Von Clownstick’s fault So what is your point ABC?

Oookkk well yet another bunch a crap we don't believe.... 666 I just want to punch him in the face. Perhaps he'll get a good shade of red without tanning.

Ohio to run all all-mail primary through April 28Ohio lawmakers have extended mail voting in the state’s primaries until April 28 — but civil rights groups warn the plan could disenfranchise large groups of voters after coronavirus concerns delayed the state's original primary on March 17 Well, this sure makes it easy to cheat

Sorry, 'Well, it's absolutely your fault, certainly in your presidency, in this no more Great Again America, that you had promised to make it Great Again'. Trump is a positive person❤️ that’s why Americans love him! MSM destroying the country😢 Take care of yourself Mr President! We need you It´s Trump´s fault. For not acting on time and calling covid-19 a hoax.

Stupid Panorama24H Its never hos fault, fucking never! Yes it is somebody’s fault. Trump was given information in early January that this was coming and he did nothing because he feared it would hurt his re-election. It will, his incompetence will be rewarded by a defeat at the polls in 2020. BlueWave2020

America safe the world... I think is a normal slogan in a movie..just my though Au contraire Testless Trump. BeanBrainInChief

Federal prison officials failed to monitor communications of 28 terror inmates, DOJ investigation findsInvestigators concluded that 'thousands of terrorist inmate communications' were only partially covered.

Who’s not smarter than a fifth grader? Please stop transferring blame and start to work on the VIRUS! Every second you are using trying to find some ways to transfer blames you are using people’s lives! This man will destroy US! US i now the EPI-center in the world, and he will open up... he is just awfule!!

is he still consider to open full economy since US is the leading on the most cases with covid-19? does he have a clue of what is going on perhaps world wide. If Trump didn't try to cover this virus with rosy lies about how it's no big deal we wouldn't be in the predicament we're in now. He has failed miserably.

He’s right he said people aren't going to be shaking hands now, forever Well done, realDonaldTrump USA has overtaken China to Seal the top Spot in Wuhan Corona Olympics., No concrete action taken yet., 😏👎 Shameful He’s being nice to the reporters.. what’s up

Your Guide to the 28 Best H&M Sweats, Pajamas, and Loungewear Pieces Under $40My apartment wardrobe consists strictly of comfortable clothes. You will never catch me in a pair of jeans. I like to have lots of loungewear options, so

trump spoke to people who had coronavirus; he probably has it or either he is as dumb as a rock Whats your point? The media caused hysteria and forced the economy to shut down over a virus that is less deadly than the flu. You and the rest of FakeNews caused this. Never takes responsibility for his poor actions

this guy is sleepier than sleepy Joe Biden, listen to what he said about blame regarding trade with china The White House correspondents whca seem more and more impotent each day. A reporter asked if it’s fair for Boeing, an “aircraft” company to receive stimulus money and Trump goes on a tangent about the “airlines” never answering the question about Boeing.

Networks cut away they don’t do that with Cuomo!!!! Lmao. Lefties bummed the pandemic isnt going to be as bad as predicted. Never change goofballs. Shut him off ABC do like NBC don’t air this liar

The 28 US cities with the largest elderly populations - Business InsiderSenior citizens are one of the most at-risk groups for the coronavirus. We found the US cities with the largest share of older Americans.

EVERYTHING the GOP does is just around the corner. Those test kits he refused from the WHO the new ones are gonna be here any minute.. the PPE. Soon. As early as next week.... Where are the tough hitting reporters? Why are the same reporter asking the same questions? This is becoming too political. Where's Peter Alexander? This is a shame. ABC is now trump's state TV

Please cut back to regular programming, this is pitiful! What he really knows about economics I could put on the point of a needle. God help us. Blah blah blah bad media blah China blah. Smfh. It’s all just dribble. AuntyL13

U.S. Unemployment Claims Hit Record 3.28 Million Last Week Amid Coronavirus PandemicU.S. unemployment claims last week hit a historic 3.28 million, the U.S. Department of Labor said Thursday, as the economic devastation of the coronavirus crisis continues to unfold. The figure sha…



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