Quote:
Originally Posted by PaceAdvantage
There are just going to be too many businesses that won't survive this...hope I'm wrong...but I don't see it...no way.
Like you said, people just think you can flip the switch on or off.
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First-time weekly jobless claims totaled 6.7 mm today, on top of the 3.3 mm from last week. Using those numbers and the most recent data, the unemployment rate is now around 10%.* Unfortunately, it will get much worse, as I'd expect another 5 mm to 7 mm in first-time claims next week and more after that.
*The official unemployment rate is not calc'd using the weekly claims data. I'm just using the data as a very rough proxy.
