Post
Topic
Board Economics
Re: The number of jobless people has crossed one million in US - worrying sign?
by
Midas111
on 23/08/2020, 19:08:47 UTC

Hey this is so wrong it is silly.

 The amount of people that lost their jobs due to covid-19 in the USA  not 1 million or 2 million  or 3 million our 4 million. how about 20 million up from 6 million.

Please fix your title


Came here to to say exactly this. The number that OP is referring to in his article is just the new jobless claims. The actual number of unemployed people is more like 30 million (Source from 24.07.: https://www.forbes.com/sites/sarahhansen/2020/07/24/30-million-are-unemployed-and-more-pain-is-on-the-way-here-are-8-numbers-that-sum-up-the-destruction-in-the-us-labor-market/).

Imho it makes more sense to look at the unemployment rate rather than total numbers. And the unemployment rate peaked in April at 14.7 % and is since then declining slowly but steadily (https://tradingeconomics.com/united-states/unemployment-rate). It will be interesting to see the number for August.

unemeployment in usa is vastly higher than the official numbers. The numbers they print for usa employment are faker than the zec orderbook