{"id":53545,"date":"2020-06-07T12:49:54","date_gmt":"2020-06-07T17:49:54","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53545"},"modified":"2020-06-07T12:49:57","modified_gmt":"2020-06-07T17:49:57","slug":"most-u-s-states-have-reopened-their-economies-so-why-does-unemployment-continue-to-spiral-out-of-control","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53545","title":{"rendered":"Most U.S. States Have \u2018Reopened\u2019 Their Economies, So Why Does Unemployment Continue To Spiral Out Of Control?"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/most-u-s-states-have-reopened-their-economies-so-why-does-unemployment-continue-to-spiral-out-of-control\">Most U.S. States Have \u2018Reopened\u2019 Their Economies, So Why Does Unemployment Continue To Spiral Out Of Control?<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This wasn\u2019t supposed to happen.&nbsp; Once states started to \u201creopen\u201d their economies, the tsunami of unemployment was supposed to end.&nbsp; But instead, we continue to see Americans lose jobs at a pace that is far beyond anything we have ever seen before in all of U.S. history.&nbsp; All the way back in 1982, there was a week when 695,000 Americans filed initial claims for unemployment benefits, and that all-time record was never broken until this year.&nbsp; Of course we have seen monster number after monster number here in 2020, and we just learned that last week&nbsp;<a href=\"https:\/\/www.cnbc.com\/2020\/06\/04\/weekly-jobless-claims.html\" target=\"_blank\" rel=\"noreferrer noopener\">another 1.877 million Americans<\/a>&nbsp;filed new claims for unemployment benefits\u2026<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Filings for unemployment insurance claims totaled 1.877 million last week in a sign that the worst is over for the coronavirus-related jobs crisis but that the level of unemployment remains stubbornly high.<\/p><p>Economists surveyed by Dow Jones had been looking for 1.775 million new claims. The Labor Department\u2019s total nevertheless represented a decline from the previous week\u2019s upwardly revised total of 2.126 million.<\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">So even though more than 40 million Americans had already lost their jobs in 2020, there were still enough people losing their jobs last week to surpass the old record from 1982 by more than a million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Just think about that.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Overall, a grand total of 42.6 million Americans have now lost their jobs since the pandemic began, and that makes this the largest spike in unemployment in all of U.S. history by a very wide margin.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And when the monthly employment report comes out on Friday, the official U.S. unemployment rate&nbsp;<a href=\"https:\/\/www.cnbc.com\/2020\/06\/04\/weekly-jobless-claims.html\" target=\"_blank\" rel=\"noreferrer noopener\">is expected to surpass 20 percent<\/a>\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most U.S. States Have \u2018Reopened\u2019 Their Economies, So Why Does Unemployment Continue To Spiral Out Of Control? This wasn\u2019t supposed to happen.&nbsp; Once states started to \u201creopen\u201d their economies, the tsunami of unemployment was supposed to end.&nbsp; But instead, we continue to see Americans lose jobs at a pace that is far beyond anything we [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[29669,29668,28817,29136,29520,28947,29011,29171,2310,22209,29670,3262,1883,395,7351,2660,4901,12750,10475,7452,11958],"class_list":["post-53545","post","type-post","status-publish","format-standard","hentry","category-economics","tag-a-second-great-depression","tag-another-great-depression","tag-coronavirus","tag-coronavirus-in-the-united-states","tag-coronavirus-lockdowns","tag-coronavirus-pandemic","tag-covid-19","tag-covid-19-pandemic","tag-depression","tag-depression-2020","tag-depression-like-conditions","tag-disease","tag-economic-depression","tag-health","tag-job-losses","tag-layoffs","tag-michael-snyder","tag-pain","tag-painful","tag-the-economic-collapse-blog","tag-unemployment-benefits"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53545"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53545\/revisions"}],"predecessor-version":[{"id":53546,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53545\/revisions\/53546"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}