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On Friday the Department of Labor will release May’s employment report, and expectations are for an additional 9 million people to have lost their jobs.
Depending on how many stopped looking for work, and are therefore not counted as unemployed, 9 million added to the jobless roles would increase the unemployment rate to just over 20%.
It is possible when all aspects of how many people have been laid off that an additional 7 million on top of the expected 9 million could be reported.
This could increase the unemployment rate close to the Great Depression’s estimated 24.9% rate.
Source 1: www.marketwatch.com...
The numbers:The U.S. regained 2.5 million jobs in May, and the unemployment rate fell to 13.3%, confounding Wall Street expectations for another big wave of layoffs, and signaling the economy began to revive last month from the worst economic crisis since the Great Depression of the 1930s.
Every state began to reopen their economies to some degree in May, and the Bureau of Labor Statistics said 2.7 million people who had temporarily lost jobs amid the pandemic returned to work.
Stock prices surged after the surprisingly upbeat May employment numbers.
Also, Retail sales jumped by a record 17.7% from April to May.
The boost was more than double the roughly 8% increase economists had expected.
(CNN) - A mix of early re-openings and disregard for personal safety measures have prompted researchers to increase their projections of Covid-19 deaths this summer.
One model now predicts 200,000 US deaths from coronavirus by October 1 -- an increase of 30,000 deaths since last week's projection by the Institute for Health Metrics and Evaluation, at the University of Washington.
That would mean an average daily death toll of more than 840 Americans since February 6, the date of the first known US death linked to Covid-19.
"Increased mobility and premature relaxation of social distancing led to more infections, and we see it in Florida, Arizona, and other states," said Ali Mokdad, one of the creators of the model. "This means more projected deaths."
But IHME projections have been low in the past, and others say the death toll could be higher!
"Sadly, I think this 200,000 number may be a under prediction, based on what we're starting to see in several states across the country," CNN Chief Medical Correspondent Dr. Sanjay Gupta said.
originally posted by: infolurker
a reply to: carewemust
Covid is a real problem and many of these rioters and protesters are about to find out the hard way.
originally posted by: Phage
Meanwhile, the administration says COVID is all pau.
It just went away? Seriously?
More at: www.foxnews.com...
Democrats on the House Intelligence Committee rolled out legislation Tuesday that would require the director of National Intelligence to produce a an estimate on the threat of global pandemic disease in the wake of COVID-19.
In the "wake" of = It has passed.
“Even as we continue to respond to this pandemic, which has taken more than 115,000 American lives, our nation has to be prepared for future diseases and viruses that come to our shores. That’s why Congress should request a National Intelligence Estimate,” Schiff said