This is the worst economic catastrophe in the United States in decades. Job losses reach historic proportions. An additional 3.2 million Americans applied for unemployment benefits the last week alone. Bringing the total to 33.5 million jobs to have been lost since the lockdown began. 20.5 Million jobs lost in April alone. We just had the worst Jobs report in US history. The unemployment rate has reached 21 percent of the workforce. That’s almost the entire population of the state of California or the equivalent of 1 in 5 Americans who were employed in February. The US unemployment rate is expected to rise to 16% in April from just 4.4% in March. We’re looking at 1/4 of the workforce unemployed by the second quarter. Nearly three orders of magnitude worse than the worst readings of 2009. WITH OVER 33 MILLION JOBLESS CLAIMS FILED IN THE LAST SIX Weeks.
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