32% unemployment predicted, 47 million unemployment!

[S2007S]

I dont how accurate that number is but those figures signal something closer to a depression, I dont think the fed will allow unemployment to get higher than 15% they will print and lend out trillions upon trillions before they let unemployment percent tick into the high teens.




https://www.cnbc.com/2020/03/30/cor...-unemployment-rate-of-32percent-fed-says.html

 

[zghorner]

sweet. anything to make these puts print.

 

[ElCubano]

Millions can’t get through to unemployment to apply. My heart goes out to those in need during this crisis. Grateful for what I have is an understatement.

 

[Amun Ra]

What a joke. We will get nowhere near 32%. We MIGHT get to 8% briefly, but no way are we going into double digits.

 

[nooby_mcnoob]

What a joke. We will get nowhere near 32%. We MIGHT get to 8% briefly, but no way are we going into double digits.

Isn't it already at 10%?

 

[southall]

68% will still be employed. That sounds pretty good to me.

I always see the glass as half full, not half empty.

 

[Amun Ra]

Isn't it already at 10%?

I think it's around 5.7% to 5.8% now. The rate goes up 1% for every 1.57m unemployed I believe.

 

[SanMiguel]

68% will still be employed. That sounds pretty good to me.

I always see the glass as half full, not half empty.

Until that 68% gets taxed more to pay for all the unemployment

 

[gaussian]

I'd say it's possible that any extended engagement with Coronavirus could cause a temporary increase of unemployment to this number. A number of weeks back I said something like ~20%, basing my numbers off of the last BLS report on labor distribution. IIRC, around 60% of America works in service jobs. If you consider these jobs at risk, and the worst case something like 90% loss of work in these industries over even just a quarter, I can see how they arrived at their number. It's not plausible, but it is a realistic estimate under worse case scenarios.

 

[noddyboy]

I dont how accurate that number is but those figures signal something closer to a depression, I dont think the fed will allow unemployment to get higher than 15% they will print and lend out trillions upon trillions before they let unemployment percent tick into the high teens.




https://www.cnbc.com/2020/03/30/cor...-unemployment-rate-of-32percent-fed-says.html

Printing money doesn't help if people are not allowed to leave their homes.