ICYMI: U.S. weekly jobless claims hit 6.6 million, vs. 5 million expected.
That brings the total claims over the past three weeks to more than 16 million.
after the Fed's announcement.The most recent jobless number represents a decline of 261,000 from the previous week, which was revised up by 219,000 to nearly 6.9 million.The ongoing surge in filings for unemployment insurance has been exacerbated by the expansion of those who can file claim. The $2.2 trillion federal coronavirus relief bill enacted last month has expanded the group to include the self-employed and independent contractors.
California, New York and Michigan saw the largest increase in claims last week. Those states are also among the hardest hit from the coronavirus pandemic.Prior to the social distancing efforts used to combat the outbreak, the jobs market had been strong. In the six-month period prior to the economic shutdown, nonfarm payroll growth had averaged 221,000 a month. However, March saw a decline of 701,000 that only began to measure how deeply the virus had impacted the employment situation.
Most of that employment decline came in restaurants and drinking establishments, although health care and social assistance also took a hit. A more representative number of the actual impact to employment came through the Labor Department's survey of households, which indicated a drop of nearly 3 million from the employment ranks.
A large contributor to that number was the 1.3 million people who dropped out of the labor force as they lost their jobs but were unable to look for work because of coronavirus-related restrictions. Those numbers helped push up the headline unemployment rate from 3.5% to 4.4% and drove a more encompassing number that includes those not looking for work and the underemployed from 7% to 8.7%, the biggest one-month gain in the history of that measure.
In its announcement Thursday, the Fed said the programs would total up to $2.3 trillion and include the Payroll Protection Program and other measures aimed at getting money to small businesses and bolstering municipal finances with a $500 billion lending program.
Correction: An earlier version misstated the amount of the newly announced Federal Reserve plan to help the economy. It is up to $2.3 trillion. Read more: CNBC »
they call themselves exsperts. if they was off by a few thousands ok then but a million 8 million was what I was expecting and I wasn't the only one. voxdotcom SquawkCNBC 247WallSt SeekingAlpha thedailybeast Stocktwits FT Fed Trying To Inflate A 4th Bubble To Fix The Third ICYMI... tell that to the damn markets cause apparently they didn't get the memo
Don’t worry Ivanka added 15 million imagery jobs according to Trump. Which company would you most like to own stock in? Poll Invest MSData Ugh... Not one person has died from “coronavirus” that hasn’t had underlying medical issues.
Week Of Women: April 10-16, 2020Our entertainment picks for the week are here! ft. new music by lauramarlinghq, the return of insecurehbo, and more:
‘Tiger King’ Nabbed Over 34 Million U.S. Viewers in First 10 Days, Nielsen Says (EXCLUSIVE)“Tiger King” has clawed its way into the national psyche to become one of Netflix’s biggest-ever original shows. The docuseries reached a U.S. TV audience of 34.3 unique viewers w… RiverCityOtter Because they're all crazy. Rich and crazy. Like, LEGIT crazy. Seriously, they all scare me. Only Joe is 'less' crazy because he is upfront about how crazy he is. The rest? Guano. Horrible people getting hyped, I give up on this world Toure Except don't watch if you love animals.
4 In 10 U.S. Teens Say They Haven't Done Online Learning Since Schools ClosedOverall, 41% of American teenagers say they haven't attended a single online or virtual class, according to a national poll conducted between March 24 and April 1. That could be due to a lot of different factors — including resource gaps. No it’s due to tiktok and all the other dumb shit teenagers do these days. Plus no parenting telling their kids to do their homework be responsible etc How many fortnights before this changes? Rural areas will be a problem due to access to internet.
Iraq names its third prime minister in 10 weeksMustafa al Kadhimi was nominated by President Barham Salih, state television reported, shortly after the previous designated prime minister, Adnan al Zurfi, announced he was withdrawing after having failed to secure support to pass a government. This is perfect 'American Democracy'
10 Dermatologist-Approved Eye Creams That Fight Dark Circles, Puffiness, and Fine LinesIn SkinCeuticals AOX+ Eye Gel, the antioxidants act as the main fighters. 'It interferes with the production of pigment which brightens dark circles, improves pigmentation, and also prevents free-radical damage from UV light exposure,' says Dr. King. Dear ELLE you asleep? TrumpFascism and GOPFascistParty Who have dark circles in lockdown situation?
Ex-MLB Star Josh Hamilton Facing 10 Years In Prison After Child Abuse IndictmentThe former MVP was indicted by a grand jury this week. He can't seem to keep it together Damnit man. This guy had soooo many chances at life