The Wost Economic News in US History

52% Of Small Businesses “Expect To Be Out Of Business Within Six Months”; Shocking New Survey

www.zerohedge.com/personal-finance/52-small-businesses-expect-be-out-business-within-six-months-shocking-new-survey

There is nothing in our history that even comes close if these survey results materialize.

Worst Jobs Report In History: 20.5 Million Jobs Lost As Unemployment Rate Hits Record 14.7%

www.zerohedge.com/markets/worst-jobs-report-history-205-million-jobs-lost-unemployment-rate-hits-record-147

The charts in this article are jaw dropping. Worst month on month performance by a factor of ten.

Expect continued strong performance in the equities markets as they play in piles of new money up to 30 feet deep.

Record 20.5 million American jobs lost in April. Unemployment rate soars to 14.7%

READ  Mannarino: Into The Abyss – The US Economy Is In Economic Freefall!

With much of the American economy in self-imposed shutdown to prevent the spread of coronavirus, April’s colossal surge in unemployment delivered a historic blow to workers.

The US economy lost 20.5 million jobs in April, the Bureau of Labor Statistics said Friday — by far the most sudden and largest decline since the government began tracking the data in 1939.
Those losses follow steep cutbacks in March as well, when employers slashed 870,000 jobs. Those two months amount to layoffs so severe, they more than double the 8.7 million jobs lost during the financial crisis.
For many Americans who lost their jobs and their homes in the 2008 financial crisis, this moment reopens old wounds. It took years to rebound from those setbacks. When the economy eventually did crawl back, US employers added 22.8 million jobs over 10 years — a victory for all those who had weathered the Great Recession.
Now, the coronavirus pandemic stings not only because of the public health crisis it has inflicted — but also because it wiped out nearly that whole decade of job gains in just two months.

READ  The Economic Collapse Hits Home: Feeding America Says 1 Out Of 4 U.S. Children Could Suffer From Hunger By The End Of 2020

www.cnn.com/2020/05/08/economy/a…index.html

www.yahoo.com/news/coronavirus-c…29914.html

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