We went from a very low unemployment rate to insanity overnight. Given that there are 6+ months to recover, what do you see the rate being for November? Here is a little history lesson; "At the highest of levels of unemployment following the 2008 financial crisis, there were 15.3 million jobless Americans. But in the past five weeks a staggering 26.5 million workers have already filed jobless claims." https://fortune.com/2020/04/23/us-u...tal-job-losses-april-23-2020-benefits-claims/
Watch Trump try to talk about bringing jobs back as we get closer to November and whoever is the dem nominee will talk about giving people free money.
We don't know how long the pandemic will last. Any way the economy was terrible worlwide before that with insane debt rates.
We will adjust to "the new reality" and make the modifications necessary to get back to work and resume with a new "business as usual" approach. Sure, we'll practice 'social-distancing', be wearing masks, etc., but we will adapt successfully. Still, I would 'guesstimate' approximately 8 - 10 million unemployed in November... but it could go much higher if the virus returns as many feel that it could next autumn and winter.
The unemployment numbers will drop precipitously after the $600wk ends at the end of July. Giving many over 2-3 times their usual income.....Who thought that was a good idea?
Depends if there is a second wave from states opening too quickly, epidemiologists are saying this is highly likely. If no wave we will be probably double what we were around Dec 2019 — if a second wave occurs, who knows?
