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General Investing and Economics Discussion - No Politics
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<blockquote data-quote="Deleted member 2897" data-source="post: 708626"><p>Another 6.6m file for unemployment.</p><p><a href="https://finance.yahoo.com/news/coronavirus-covid-weekly-initial-jobless-claims-april-3-163825214.html" target="_blank">https://finance.yahoo.com/news/coronavirus-covid-weekly-initial-jobless-claims-april-3-163825214.html</a></p><p></p><p>That's somewhere around 17m in the last 3 weeks.</p><p></p><p>Given the workforce was somewhere around 165m, that's a 10% absolute value increase in unemployment, meaning we're real time running around 13% right now. Underemployment includes people that are technically not officially laid off, but have seen their hours reduced. There are a TON of those types of people. I'm guessing real time unemployment is around 15% as of today and real time und the underemployment (U-6) number to be around 25%-30%.</p><p></p><p>By comparison for that 17m number, Obama is generally credited with having created 12m jobs over his 8 years. Reagan is generally credited with having created 20m jobs over his 8 years.</p><p></p><p>This is a massive number. Its an undoing of over a decade of economic growth.</p></blockquote><p></p>
[QUOTE="Deleted member 2897, post: 708626"] Another 6.6m file for unemployment. [URL]https://finance.yahoo.com/news/coronavirus-covid-weekly-initial-jobless-claims-april-3-163825214.html[/URL] That's somewhere around 17m in the last 3 weeks. Given the workforce was somewhere around 165m, that's a 10% absolute value increase in unemployment, meaning we're real time running around 13% right now. Underemployment includes people that are technically not officially laid off, but have seen their hours reduced. There are a TON of those types of people. I'm guessing real time unemployment is around 15% as of today and real time und the underemployment (U-6) number to be around 25%-30%. By comparison for that 17m number, Obama is generally credited with having created 12m jobs over his 8 years. Reagan is generally credited with having created 20m jobs over his 8 years. This is a massive number. Its an undoing of over a decade of economic growth. [/QUOTE]
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