Millions more filed for unemployment this past week.
CNBC:
First-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market.
Economists surveyed by Dow Jones had been looking for 2.4 million claims.
The seasonally adjusted total, while still well above anything the nation had seen in pre-coronavirus America, represents the seventh straight week of a declining pace following the record peak of 6.9 million in late March.
Almost 40 million people have filed for unemployment since this insane lockdown happened. Millions more will file as this economic collapse continues. As bad as these numbers are, they actually understate the amount of people unemployed. Real unemployment will probably reach 50 percent if not worse.
It is absolutely comical to see people claim that we’ll have a quick economic recovery by simply reopening everything. Even if every state fully reopened tomorrow, it is impossible for there to be a quick recovery. The damage has been done and all the uncertainty created by the tyrannical state governments makes it impossible for anybody to plan new projects etc.. It might take a decade if not longer to recover and that’s assuming we don’t have a societal collapse because of all this weird virus hysteria that’s been driven by the media.
Nobody knows the future, but what we’ll likely see is an attempt by Democrats to implement full blown communism under the false guise of helping people. They may even try to implement universal basic income with the catch that people will only be able to access the income if they get vaccinated, visit a FEMA camp and/or have a microchip implanted in them.
