Thursday, April 16, 2020

BREAKING: Jobless Claims Top 5 Million for Third Straight Week

Another 5.2 million workers filed for unemployment benefits last week, raising the total in a month of coronavirus shutdowns to more than 20 million.

Keep in mind that more Americans are receiving enhanced jobless benefits of $600 a week on top of usual state payments, and additional workers are eligible to receive unemployment insurance under the federal stimulus package signed into law in March. This is going to provide incentive for many to stay unemployed once the lockdown is over.

And most significant, the government will, in a complex manner, just be printing money via the Federal Reserve to finance a good chunk of these payments.

The price inflation on the other side of the lockdowns is really going to be something.


1 comment:

  1. No need for any immigration now whether legal or illegal. Of course, I know libertardians love 'muh cheap labor'.