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Author Topic: Unemployment Rate 14.7%, Could Hit 25%, Great Depression Era Numbers  (Read 484 times)

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Offline mystery-ak

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Unemployment Rate 14.7%, Could Hit 25%, Great Depression Era Numbers
« on: May 18, 2020, 07:38:30 pm »
 Unemployment Rate 14.7%, Could Hit 25%, Great Depression Era Numbers
By Michael W. Chapman | May 18, 2020 | 10:40am EDT

According to the Bureau of Labor Statistics (BLS), the national unemployment rate in April was 14.7%, a rate not seen since the Great Depression era of the 1930s under President Franklin Delano Roosevelt.

In addition, the investment firm Goldman Sachs predicts that the national unemployment rate will likely peak at 25%, reported Forbes. The highest national unemployment rate during the Depression was 25.59% in May 1933.



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Offline libertybele

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Re: Unemployment Rate 14.7%, Could Hit 25%, Great Depression Era Numbers
« Reply #1 on: May 18, 2020, 07:41:48 pm »
Amazing isn't it, in spite of these numbers the stock market is still rallying.
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Offline truth_seeker

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Re: Unemployment Rate 14.7%, Could Hit 25%, Great Depression Era Numbers
« Reply #2 on: May 18, 2020, 08:13:54 pm »
Quote from: libertybele on May 18, 2020, 07:41:48 pm
Amazing isn't it, in spite of these numbers the stock market is still rallying.

The market is reflective of expectations for the future.

News for the virus, new cases, deaths is favorable,  for ending lockdown around the world, positive, for developing vacinnes, positive.

And who but Trump, to best take advantage of the "bully pulpit" to "talk-up our economy?





 
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Offline catfish1957

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Re: Unemployment Rate 14.7%, Could Hit 25%, Great Depression Era Numbers
« Reply #3 on: May 18, 2020, 09:14:26 pm »
Quote from: libertybele on May 18, 2020, 07:41:48 pm
Amazing isn't it, in spite of these numbers the stock market is still rallying.

Not only rallying but roaring.  Up near a 1000 points today. 

Very encouraging news today on a few fronts on a COVID-19 vaccine, plus some unexpected upticks in economic indicators associated with re-opening much of the country.

I don't want to jinx it, but I am seeing more and more op-eds thinking this might be a "V" shaped recovery.

Thing is, the dims thought they could destroy Trump, the GOP, and influence this fall's election by forcing a "stay at home fear economy".  Americans are too adventerous and rebellious to put up with that shit.

We will still see some bumps, but today I am a lot more optimistic than I was a month ago.
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Offline libertybele

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Re: Unemployment Rate 14.7%, Could Hit 25%, Great Depression Era Numbers
« Reply #4 on: May 18, 2020, 09:39:36 pm »
Quote from: catfish1957 on May 18, 2020, 09:14:26 pm
Not only rallying but roaring.  Up near a 1000 points today. 

Very encouraging news today on a few fronts on a COVID-19 vaccine, plus some unexpected upticks in economic indicators associated with re-opening much of the country.

I don't want to jinx it, but I am seeing more and more op-eds thinking this might be a "V" shaped recovery.

Thing is, the dims thought they could destroy Trump, the GOP, and influence this fall's election by forcing a "stay at home fear economy".  Americans are too adventerous and rebellious to put up with that shit.

We will still see some bumps, but today I am a lot more optimistic than I was a month ago.

Optimism is a good thing; I'm not quite there yet on this pandemic.
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