Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates

[Cuddles]

https://www.cnbc.com/2020/03/30/cor...-unemployment-rate-of-32percent-fed-says.html
Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates

• The coronavirus economic freeze could cost 47 million jobs and send the unemployment rate past 32%, according to St. Louis Fed projections.
• There are nearly 67 million Americans working in jobs that are at a high risk of layoffs, according to the analysis.
• St. Louis Fed President James Bullard said last week that the initial estimates are grim but the plunge should be short-lived.

 

[Overnight]

https://www.cnbc.com/2020/03/30/cor...-unemployment-rate-of-32percent-fed-says.html
Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates

• The coronavirus economic freeze could cost 47 million jobs and send the unemployment rate past 32%, according to St. Louis Fed projections.
• There are nearly 67 million Americans working in jobs that are at a high risk of layoffs, according to the analysis.
• St. Louis Fed President James Bullard said last week that the initial estimates are grim but the plunge should be short-lived.

I figure if we ever are going to see the second-level breaker of 13% get tripped, it would be this year. Otherwise it would take a wobbly moon slipping out of orbit.

 

[Turveyd]

Worth it to save 42 old people that have an entire 2weeks left alive each, which will be spent in a OAP home dribbling.

Lockdowns and prioritizing a few lives of old people against well everyone else, the ultimate snowflake stupidity.

Remember there boomers, very very few thought in WW2.

 

[newwurldmn]

Worth it to save 42 old people that have an entire 2weeks left alive each, which will be spent in a OAP home dribbling.

Lockdowns and prioritizing a few lives of old people against well everyone else, the ultimate snowflake stupidity.

Remember there boomers, very very few thought in WW2.

Are you competing for most ignorant person on elitetrader?

Even trump (guy that make “snowflake” a modern insult) said that 2mm Americans would die if social distancing wasn’t implemented.

 

[Turveyd]

Are you competing for most ignorant person on elitetrader?

Even trump (guy that make “snowflake” a modern insult) said that 2mm Americans would die if social distancing wasn’t implemented.

Social Distancing really isn't helping that much, do you not think there lying to you or maybe haven't got a clue ??

Study Sweden, remember only 10mil population so scale it to match, there doing very little, we'll see if much different, my bet is, not much different.

And how can you not care about people losing there jobs in millions being forced into poverty?? or is that acceptable and means nothing to you ??

 

[newwurldmn]

Social Distancing really isn't helping that much, do you not think there lying to you or maybe haven't got a clue ??

Study Sweden, remember only 10mil population so scale it to match, there doing very little, we'll see if much different, my bet is, not much different.

And how can you not care about people losing there jobs in millions being forced into poverty?? or is that acceptable and means nothing to you ??

I do care about people losing their jobs. I also care about the millions of lives that could be lost.

It’s s shitty situation all around.

You seem to be in denial about the deaths part even though virtually everyone is agreeing with this figure and you can’t produce anything other than “there all lying to you.” The spelling error was intentional.

 

[Overnight]

Worth it to save 42 old people that have an entire 2weeks left alive each, which will be spent in a OAP home dribbling.

Lockdowns and prioritizing a few lives of old people against well everyone else, the ultimate snowflake stupidity...

That may have been a relevant funny when a few people in Washington had it 2 months ago, but this thing is killing people of all ages now.

And whatever resistance we may have had against the ideas of killing the economy to save lives, that is now the momo of the country, so stop fighting it. Realize that every state will have a stay-at-home order before Easter most likely, (The FL governor just caved), so the sooner we get it done with, the sooner we can get back to whatever new normal we may have.

 

[S2007S]

I'm extremely bearish but damn I wouldn't even have predicted such numbers. I highly highly highly doubt the fed even allows this too happen. I'm sure once unemployment starts to really tick up the fed will announce a $5-$10 trillion dollar package deal. No way will they allow this since 70% of gdp is dumb consumer spending.

 

[Overnight]

...

And how can you not care about people losing there jobs in millions being forced into poverty?? or is that acceptable and means nothing to you ??

As an aside, I would like to think there is a silver-lining to this temporary blip. I really hope that all the employers who have been forced to lay off those people rehire them back once the clear signals are given.

It would be the epitome of shittiness if the people who were laid-off after years and years of service cannot get their old jobs back because a new applicant comes along and would cost the company a bit less on payroll. THAT would be scummy.

 

[Turveyd]

I do care about people losing their jobs. I also care about the millions of lives that could be lost.

It’s s shitty situation all around.

You seem to be in denial about the deaths part even though virtually everyone is agreeing with this figure and you can’t produce anything other than “there all lying to you.” The spelling error was intentional.

I've produced loads there claiming 4.8% mortality rate, 6% in places, Italy is on 0.025% area currently and hopefully will stop around 0.05%. BIG Difference!!

It's in line with Flu, nobody cares about Flu deaths, nobody locks down and screws up there entire economy every year from the Flu and puts millions out of work.

Powers that be, have decided they can make more money from this madness so there pretending to care about the old and the snowflakes are scared for there own lives and pretending it's about the old people aswell.