Thursday, April 23, 2020

4.4 Million More Filed for Jobless Claims Last Week


About 4.4 million Americans applied for jobless benefits in the week ended April 18, the Labor Department reports.

Since the coronavirus panic triggered widespread lockdowns in mid-March, workers have filed more than 26 million unemployment insurance claims.

For all practical purposes, it should be considered that all of them are now being supported by the Federal Reserve printing money out of thin air.

-RW


3 comments:

  1. "For all practical purposes, it should be considered that all of them are now being supported by the Federal Reserve printing money out of thin air.

    Not true. I would venture to guess, millions of people are going on over 4 weeks now without receiving anything. https://abcnews.go.com/Business/americans-wait-unemployment-checks-month-pandemic/story?id=70292528

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  2. Washington State's Employment Security Department (ESD)is seeing seeing unprecedented demand for services – up to 500,000 users per hour. Tens of thousands of people have already filed successfully, and thousands continue to do so every hour.
    https://coronavirus.wa.gov/news/business-workers-weekly-update-april-22-2020

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  3. Here is a developing disaster: states are running out of unemployment funds and may need to be bailed out by the federal government. My paranoid side suspects that the state governments already have run out of funds and that is why they are not paying out the unemployment compensation. That could not be true, however, because I know full well that governments never lie or hide information from the public. https://www.forbes.com/sites/alexandrasternlicht/2020/04/20/report-states-are-rapidly-draining-their-unemployment-funds/

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