WASHINGTON (AP) — 1.48 million laid-off workers seek US jobless aid, a 12th straight weekly drop, even as virus threat intensifies.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1317085
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1317085
This won’t end until Trump is gone.
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In trump world, there all liberals, anarchists, lowlifes, criminals, non- whites looking for a free ride off the government.
He’s working on fixing the problem.
stop funding unemployment and let the states get screwed by all those anti- american s
who don’t vote anyway.
scenario fits trump mindset
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I wish it was solely based on donnie. Unfortunately, it won’t fully end until we have a vaccine.
The part that donnie is totally screwing is backing the repub move to NOT continue govt support for those who are out of work.
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It may be another weekly decline, but initial claims a year ago were around 225,000.
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This would be concerning if we weren’t already past the worst of the pandemic. 
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However the Wall Street goons are still making it, how many BILLIONS is it that they have reaped with 120,000+ deaths. Greed is still good. Even better because those desperate to get back to work because they can’t afford to go even deeper into debt will work for not much over minimum wage. Greed is great, once again for the money class.
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Even with a decline in unemployment claims (which is negligible since last week’s claims number was revised upwards by 32K) – this comes at an awful time. The $600 federal weekly boost to UE benefits is set to expire at the end of July.
No Republican will commit to extending this unemployment lifeline.
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China is ahead of the US in this pandemic, so it offers some stark warning, if we already weren’t depressed by the IMF’s revised outlook for global growth declining by up to 12% over the next 18 months. What we see is strong recovery in industrial output (manufacturing in China’s case) and retail to a lesser extent. All other kinds of services remain depressed. Some issues like environmental pollution don’t even register on the policy discussion. Air pollution is at or above pre-covid levels in some cities. The US has less manufacturing and a larger service sector, so if anything, a recovery will be more muted. The government should be out there with some sort of WPA program. It could spend the equivalent of 3% of GDP on redeploying service workers and still come out ahead on the deal. The US labor force is about 170 million people, and 40-50 million of them need immediate help. 20-30 million are dead meat without some sort of government program, perhaps similar to Japan’s retraining efforts in the 1950s to avoid mass job loss through retraining.
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I inferred this comment to mean that this will end when we have an administration that believes in science and does not pursue a policy of defunding research and withdrawing from the international health research sphere.
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Even more importantly, from CNBC:
Economists polled by Dow Jones expected a drop of 1.35 million (opposed to the 1.48 mil we got). This marks the second straight week that U.S. jobless claims data were worse than expected.
ETA: Unemployment AND Covid Cases on the rise. What jolly thing it is to live in America.
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Exactly…it REALLY should be infrastructure week every week at this point.
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The size of the clean-up increases daily, even as we wait the next seven months, or (shudder) possibly longer, for Trump to go. On Amanpour’s show yesterday, the election experts said they already baked in the effects of an undecided election, which Trump will delegitimize during the mail-in ballot counting. It may be a real struggle to make him leave.
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I agree that it may be a struggle to evict his ass from the White House even with an overwhelming mathematical result. I view that play to delegitimize mail-in voting before the fact as a way to hedge a win in the court of public opinion when the Trump campaign would likely lose any court case.
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Yeah, it’s kinda like the golden days of Hoover and Mellon.
Some might have imagined that the party would learned something in the nearly 100 years since. If so, it’s not in evidence.
All they seem to want is to go back to the times before Roosevelt screwed everything up. For them.
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This won’t end until Trump is gone.
And the beatings will continue until January, even as we kick his ass out of office this November.
What did we do to deserve this? Did we fail Him? Why does God hate us?
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19.5 million unemployed who continued, and 1.5 million new unemployed, basically the number for the last two reports. And these numbers still under report as lots of states have back logs on cases.
We have hit a plateau, but I expect a second wave of lay-offs as the reopening pauses and The ppp money runs out.
My best guess is that we currently have about 15 million zombie workers. Being paid through this month on ppp, but w/o jobs to go back to if - as it appears - trump’ and his bootlicker’s clusterfuck response to Covid-19 causes the economy to be unable to reopen in large parts of the us.
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This is crazy. Zombie workers trying to go back to zombie firms to work (e.g. Hertz car rentals).
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63 million idiots voted for an amoral sociopathic con man for President.
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If one rounds off, weekly UI has plateaued at 1.5M new claims for the past 3 weeks.
Most everybody expected a lower plateau considering the baseline from a year ago was 0.23M
The new baseline, apparently.
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