The pain continues to amplify across all sectors of the economy as another 2.4 million are expected to have filed for jobless claims in the weekly report to be released tomorrow.
Each week the estimates over the last 8 weeks of some 39 million being announced as unemployed has actually been increased from the pre-estimate at the time of reporting and for the past weeks adjusted numbers.
In terms of ‘disruptions’ this is a catastrophic level of unemployment not matched or seen since the Great Depression and certainly at no time in U.S. history have some 40 million people been let go in 2 months from their employers. It is also estimated another 50 million jobs have been ‘saved’ by the PPP program. Regardless, the anguish is astonishing.
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