Unemployment Rate Jumps to
4.4%, 701,000 Jobs Lost
Breitbart Economy,
by
John Carney
Original Article
Posted By: Imright,
4/3/2020 9:56:55 AM
The unemployment rate jumped to 4.4 percent in March and the economy shed 701,000 jobs. The new numbers from the Department of Labor’s employment situation report end the record 113 straight months run of hiring. Employment in leisure and hospitality businesses fell by 459,000, with a loss of 417,000 of jobs in bars and restaurants. That’s enough to erase two years of gains. Economists had forecast that the government would say employers shed about 150,000 jobs and that the unemployment rate rose from a half-century low of 3.5 percent to 3.9 percent, according to FactSet.
They've destroyed "How's your 401(k) and IRA doing?" from being a campaign slogan. They'll run unemployment up well beyond 5%...and destroy that accomplishment. They've already started the "PDT failed to respond" Big Lie.
This is the UNIPARTY at work...all else has failed and PDT must be removed from office by January '21, preferably by the unpopular vote of a hysterical electorate.
4 people like this.
Reply 2 - Posted by:
Dodge Boy 4/3/2020 10:09:27 AM (No. 367049)
This is nothing. Wait until the May jobs report comes out with over 6 million workers having just applied for unemployment benefits. Thanks China.
9 people like this.
Reply 3 - Posted by:
LesUNo 4/3/2020 10:11:57 AM (No. 367051)
President Trump,
I have every faith that you are capable of doing two things at once.
You are wise to listen to your advisers. Now start listening to ALL of your advisers.
Sincerely,
A business owner with a staff of eight now standing in the unemployment line.
6 people like this.
Reply 4 - Posted by:
ARKfamily 4/3/2020 10:16:05 AM (No. 367057)
And I may be wrong about this but I would venture to say that the jobs lost were people that support President Trump.
1 person likes this.
Reply 5 - Posted by:
Miceal 4/3/2020 10:27:06 AM (No. 367076)
This IS NOT NEWS! Get over yourselves. This was expected and it will rectify itself in due time...
4 people like this.
Reply 6 - Posted by:
Right Time 4/3/2020 10:41:20 AM (No. 367104)
The Left is gloating.
But 4.4% unemployment would have been a good day under Obama.
Besides, if we use the Obama arithmetic and count the "jobs saved or created" we can get that 4.4% down to where we want it.
4 people like this.
Reply 7 - Posted by:
DVC 4/3/2020 10:58:47 AM (No. 367132)
Amazingly good. That was the "normal" unemployment situation under The Zero, wasn't it?
3 people like this.
Reply 8 - Posted by:
judy 4/3/2020 11:09:30 AM (No. 367151)
Not true unemployment numbers when you are not allowed to work. We can return to work when this virus is over.
4 people like this.
Reply 9 - Posted by:
judy 4/3/2020 11:29:30 AM (No. 367182)
The only jobs that will be lost when this virus is over is the toilet paper factories will have lay offs & the WH press will be speechless.
2 people like this.
Reply 10 - Posted by:
bad-hair 4/3/2020 11:30:02 AM (No. 367183)
Please get me my 1200 bucks so I can buy the market before the big bounce.
1 person likes this.
Reply 11 - Posted by:
skacmar 4/3/2020 11:32:22 AM (No. 367187)
Yes the number is a jump an it will get much, much higher. The surprising thing is that many in the ultra liberal media will act like it is a total surprise out of nowhere that the jobless numbers jumped so high. Even though everyone know the numbers will go up to astronomical numbers, they will claim that it is because of the President's policies.
2 people like this.
Reply 12 - Posted by:
ginadee 4/3/2020 12:04:09 PM (No. 367211)
The jobs will come back. Businesses will re-open and people will be emploed once again . The stock market will climb. None of this will happen all at once, but have faith and believe.
Pray for yourselves and the nation and most particularly President Trump.
It will all be good again.
2 people like this.
Reply 13 - Posted by:
chiller 4/3/2020 2:43:25 PM (No. 367386)
Good news..Bad News.....
.....The Bad ; These numbers are from early March and don't come very close to actual numbers. April's survey begins soon and will be uglier.
The Good: Small business is largely unaware that they can receive $$ to pay employees right now, working or not. Once they understand, hiring can resume. It appears 2-3 weeks and some bureaucratic paperwork is required, unless Mnuchin simplifies the process which I believe he's attempting.
Rehiring won't resume, however, until peeps feel comfortable resuming a life. Seems like a nice bounce will happen. We'll soon see 1) the peaks pass with fewer deaths 2) the modeling numbers are far too high 3) HCQ will become the savior, with DjT wearing the crown.
0 people like this.
Reply 14 - Posted by:
andyboy 4/3/2020 3:53:02 PM (No. 367444)
Yes, unemployment is almost as bad as it was under Obama. That's what happens when state governors issue dictatorial orders closing private businesses against their will.
0 people like this.
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