Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates

There are nearly 67 million Americans working in jobs that are at a high risk of layoffs, according to the analysis.

The remarkable fact is, that inspite of those horrifying news and developments U.S. Indizes where marching upwards last days as if we were in the brightest economical boom. The Fed pushes the markets with tons of dollars, and it seems they will keep on doing it untill they run out of paper to print dollar notes…:laughing:

But the big drop will come sooner or later next days, this procedure can’t last very long.

I have no idea why stock markets are behaving the way they are. It doesn’t make much sense.

They are pushed by some folks from the Fed

Bad times, lots of people all over the world will be in this position sadly.

bad times and bad news :frowning:

Bad news are good news for traders…

The coronavirus is hitting the world’s first economy hard, the United States once again smashing all historical records of claims for unemployment benefits.
More than 6.6 million people filed for aid after losing their job in the week ending March 28, the US Department of Labor reported.
That’s almost double the week before, $ 3.3 million, which was a record in itself.
And in Colombia too many people have lost their jobs, it is worth noting a businessman like Arturo Calle, he has a box to pay pays his employees only until the month of May, despite the fact that the warehouses, points of sale are and factories are located closed, that is, if the government agrees to certain negotiations regarding tax payments. or they have to pay taxes or to pay payroll to all those employees.
the situation is terrible

What’s happening in the world right now is very scary. At first, we, the people of the 21st century, had to give up all our strength to fight the unfading virus as if we living in the Middle Ages. And now we’re dealing with the consequences of that struggle. And it’s only official statistics on unemployment, there are also unofficially employed workers. As much as a bunch of workers who have been sent on leave without pay by small businesses.

It’s just terrible what’s happening in America and the rest of the world. Not only is a deadly virus “walking” through the streets, but people continue to face its consequences. And somehow I don’t think that’s the final numbers, there’s gonna be a lot more of those people…

These are very scary times. The impact this virus has had on the lives of the people is heartbreaking. The most horrific part is that these numbers are being speculated to go up. Truly scared for where this is going to lead America and the rest of the world.

Very scary indeed. :worried: The best we can all do is to stay at home as much as possible and hope that a vaccine will soon be available so we can all go back to normal. :frowning:

The U.S. economy lost a staggering 20.5 million jobs in April, pushing the unemployment rate to 14.7% according to data released Friday by the U.S. Bureau of Labor Statistics.

It remains just to hope that after the decline of the virus, people will find their jobs back.

According to the ILO, of the 2 billion people who work informally around the world, about 1.6 billion have suffered “massive damage to their ability to earn a living” both because of the closings of workplaces or because they were in sectors severely affected by social distancing measures.