It's Official: US Unemployment Rate at 15%


mentalfloss
#1



Worst unemployment rate since WW2 and dead last of all affected economies.

Keep on winning.


US unemployment hits postwar high at 14.7%

US unemployment has surged to 14.7 per cent, its highest level since the second world war, after 20.5m Americans lost their jobs last month following lockdowns that choked off the world’s largest economy.

Employment fell sharply across all major sectors, with particularly heavy job losses in leisure and hospitality, which shed 7.7m positions. Education and healthcare lost 2.5m jobs, while retail lost 2.1m jobs. Manufacturing positions declined by 1.3m.

https://www.ft.com/content/2a297508-...f-9f4d16822f57
 
Hoid
#2
April job numbers show 2 million job losses in Canada and 20.5 million job losses in America.

Job losses seem to be in lock step, which makes sense given our economy is based on the American economy.
 
Jinentonix
No Party Affiliation
+2
#3  Top Rated Post
Quote: Originally Posted by mentalfloss View Post




Worst unemployment rate since WW2 and dead last of all affected economies.

Keep on winning.


US unemployment hits postwar high at 14.7%

US unemployment has surged to 14.7 per cent, its highest level since the second world war, after 20.5m Americans lost their jobs last month following lockdowns that choked off the world’s largest economy.

Employment fell sharply across all major sectors, with particularly heavy job losses in leisure and hospitality, which shed 7.7m positions. Education and healthcare lost 2.5m jobs, while retail lost 2.1m jobs. Manufacturing positions declined by 1.3m.

https://www.ft.com/content/2a297508-...f-9f4d16822f57

Make up your mind idiot. Earlier you posted the US unemployment rate was 20%. Maybe you leftards should get together for a BIG meeting and get your lies and numbers sorted out before spewing your shit.
 
Jinentonix
No Party Affiliation
+2
#4
Quote: Originally Posted by Hoid View Post

April job numbers show 2 million job losses in Canada and 20.5 million job losses in America.

Job losses seem to be in lock step, which makes sense given our economy is based on the American economy.

Soooo when our economy was supposedly firing on all 8 and unemployment was going down it had nothing to do with Trudeau's economic policies and everything to do with Trump's economic policies?
 
mentalfloss
#5
Quote: Originally Posted by Hoid View Post

April job numbers show 2 million job losses in Canada and 20.5 million job losses in America.
Job losses seem to be in lock step, which makes sense given our economy is based on the American economy.

Our unemployment rate is lower than the US for the same period.

Facts.

Let's blame Obama and her emails though.
 
Avro52
+1
#6
Quote: Originally Posted by Jinentonix View Post

Soooo when our economy was supposedly firing on all 8 and unemployment was going down it had nothing to do with Trudeau's economic policies and everything to do with Trump's economic policies?


What policies?

Borrow more money via spending and unfunded tax cuts?
 
Tecumsehsbones
#7
Quote: Originally Posted by Jinentonix View Post

Soooo when our economy was supposedly firing on all 8 and unemployment was going down it had nothing to do with Trudeau's economic policies and everything to do with Trump's economic policies?

Of course. "It's the Yanks' fault" is a tried-and-true excuse for every political party on the planet, not just in Canaduh.
 
mentalfloss
#8
Quote: Originally Posted by Avro52 View Post

What policies?
Borrow more money via spending and unfunded tax cuts?

Republicans love debt as long as it's paying for corporate tax cuts.
 
Avro52
#9
Quote: Originally Posted by mentalfloss View Post

Republicans love debt as long as it's paying for corporate tax cuts.

I was referring to both the Canadian and US federal government.
 
mentalfloss
#10
Our government uses debt as a reasonable investment.
 
Tecumsehsbones
+1
#11
Quote: Originally Posted by mentalfloss View Post

Our government uses debt as a reasonable investment.

Our debt makes yours look like you owe somebody for a candy bar.

We're number one! We're number one! U-S-A! U-S-A! U-S-A!

MAGA!
 
Hoid
#12
Quote: Originally Posted by mentalfloss View Post

Republicans love debt as long as it's paying for corporate tax cuts.

We are the same. Scheer was spouting off about the wage subsidy business "deincentivizing" (if that's even a word) all the workers....meanwhile he is always onboard for more tax cuts and straight up cash for business.

Apparently handouts don't deincentivize business, only labour.

Who knew?
 
Hoid
#13
Speaking of handouts, the wage subsidy program will continue to at least the end of June.

We are a long way away from normalcy vis a vis capitalism.
 
mentalfloss
+1
#14
Sounds like the late response hurt them more than us.


Trump's economic team braces for worsening U.S. job market in May

https://www.bnnbloomberg.ca/trump-s-...-may-1.1434179
 
mentalfloss
#15
Quote: Originally Posted by Hoid View Post

Speaking of handouts, the wage subsidy program will continue to at least the end of June.
We are a long way away from normalcy vis a vis capitalism.

Is the US truly capitalist though?
 
Tecumsehsbones
#16
Quote: Originally Posted by mentalfloss View Post

Is the US truly capitalist though?

No place is truly capitalist, and no place ever has been.
 
mentalfloss
#17
Thank you for the clarification.


Also, I was right all along about the real US unemployment rate so Jinentonix can suck it.



Why The Real Unemployment Rate Is Actually Even Worse

The official unemployment rate is calculated by dividing the number of unemployed people by the number of people in the labor force. The numerator in that equation is currently over 23 million. (The denominator is currently approximately 156.5 million.) Both the unemployment rate and the number of unemployed are staggeringly high, and both understate the toll coronavirus is taking on the economy. The actual percentage and total are much higher.

“We understand that unemployment means you don’t have a job,” according to Giacomo Santangelo, who teaches economics at Fordham University and the Stillman School of Business at Seton Hall University. “The problem is that the official unemployment rate, as measured by the Bureau of Labor Statistics, does not measure that. The official unemployment rate is the percentage of the labor force that is without a job. The problem is [that] the qualifications to be in the labor force are very narrow. It’s part of the reason why the official unemployment rate right now is 14.7 percent, but the actual percent of people who are unemployed is closer to 23.”

https://sacramento.cbslocal.com/2020...s-coronavirus/
 

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