Unemployment is on the rise around the world. In the United States is already 1 in 4 people unemployed. But the end is not near. Over 2 million additional people applied for unemployment benefits.
Now is the news not only bad news. The peak of the new jobless claims is down. We are down from over 6 million. Don’t forget that it is all on the weekly figures.
But let’s have a look away from the Coronavirus crises. This is, economically at least, caused by government bureaucrats. But now are all jobs gone that where created in the last 20 years.
The American labor participation rate is at a 37 year low at the same time. Making it harder and harder for families to survive.
It will be no surprise that employees and entrepreneurs are producing much less. that is just common sense. The economy is crashing all around. So the production is lower.
After all will this crisis not go over pretty soon. So you better prepare for it.