Record-breaking 6.6M file for unemployment in USA this week

[Supersonic 49,376]

For the second straight week, millions of new layoffs underscored the staggering toll the coronavirus pandemic is taking on America’s workers.

A record 6.65 million Americans filed first-time jobless claims last week, the Labor Department said Thursday, in a sign the sudden shutdown of a vast swath of U.S. commerce may be just starting to wreak havoc on the economy.

The number of people filing claims the prior week was revised up by a modest 24,000 to 3.3 million. A stunning 10 million workers now have sought unemployment benefits in just two weeks, exceeding the nearly nine million who lost jobs from 2008 to 2010 amid the Great Recession.

https://eu.usatoday.com/story/money/2020/04/02/coronavirus-americans-file-initial-jobless-claims-layoffs-mount/5110129002/

 

[Versace 8,074]

And so it begins 

[SMILE2NE1 3,566]

[Admin 24,441]

How accurate is the Buzzfeed graph? I know it’s bad but it’s hard to believe it’s this bad.

[NFRatwell 23,290]

Time to cancel your Chromatica preorders gays 

[gypsy101 5,453]

1 minute ago, Admin said:

How accurate is the Buzzfeed graph? I know it’s bad but it’s hard to believe it’s this bad.

looks pretty accurate, buzzfeed news is usually very trustworthy

[Sepsami 20,955]

What does unemployment mean in the US? No income?

[Economy 52,844]

7 minutes ago, Admin said:

How accurate is the Buzzfeed graph? I know it’s bad but it’s hard to believe it’s this bad.

It's believable

 

Here in Canada the weekly jobless claims surged from 27,000 to 1 Million

 

That's an increase of 30X or a 3000% increase

[Economy 52,844]

2 minutes ago, Sepsami said:

What does unemployment mean in the US? No income?

If it's anything like Canada some people will qualify for EI benefits but some won't 

 

Even the ones that do will still be on a reduced income because EI covers a portion of income not all

[Chromaticunt 5,529]

17 minutes ago, Admin said:

How accurate is the Buzzfeed graph? I know it’s bad but it’s hard to believe it’s this bad.

Buzzfeed isn't the only outlet reporting 6.6m. The only part of the graph I find hard to believe is during the 2008 recession, surely there was a bigger spike than that...

[Ziggy 14,023]

15 minutes ago, ThatBinch said:

Buzzfeed isn't the only outlet reporting 6.6m. The only part of the graph I find hard to believe is during the 2008 recession, surely there was a bigger spike than that...

Nope, the difference with ‘08 was that it happened over a longer period of time. A good way to see this graph is more similar to natural disasters than recessions. Recessions typically have a protracted rate of unemployment. It takes time. But natural disasters cause things to grind to an abrupt halt as we’re seeing with this pandemic. So recession is the right word to use, but the way this one functions shouldn’t really be compared to other recessions. Look at Hurricane Katrina or Harvey for a better idea of what I’m talking about (though those are more localized).

[PunkTheFunk 125,703]

18 minutes ago, ThatBinch said:

Buzzfeed isn't the only outlet reporting 6.6m. The only part of the graph I find hard to believe is during the 2008 recession, surely there was a bigger spike than that...

There was definitely a spike in 2008 but it happened gradually over the course of weeks/months as the recession progressed. During this crisis millions of jobs have been vaporized in a matter of days, which is completely unprecedented.

[Monster7 5,697]

Here in the last two weeks there have been more layoffs than in the 6 months following Lehman Brothers

[Eighteen 5,430]

i'm ****ing triggered by exponential graphs now.

[Tayko 1,203]

When you stop working in America you are not paid by the governement during the time you are not working ?