{"id":176248,"date":"2020-07-30T18:19:00","date_gmt":"2020-07-30T23:19:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/07\/30\/jobless-thursday-and\/"},"modified":"2020-07-30T18:19:00","modified_gmt":"2020-07-30T23:19:00","slug":"jobless-thursday-and","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/07\/30\/jobless-thursday-and\/","title":{"rendered":"Jobless Thursday, and\u2026\u2026\u2026"},"content":{"rendered":"<div><a href=\"https:\/\/i.imgur.com\/IcPoGAi.png\"><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/IcPoGAi.png\" style=\"cursor: pointer; float: right; margin: 0px 0px 10px 10px;\" width=\"250\" \/><\/a>Not only did initial jobless claims go up for the 2<sup>nd<\/sup> week in a row, but <a href=\"https:\/\/www.wsj.com\/articles\/us-economy-gdp-report-second-quarter-coronavirus-1159606140\">the 2<sup>nd<\/sup> quarter GDP numbers show an annual 32.9% decline<\/a>.<\/div>\n<p>These numbers are not just the worst for the US since modern statistics started being collected after World War II, these numbers are, &#8220;US investors are assisting with privatizing the economy,&#8221; bad:<\/p>\n<blockquote><p><span style=\"color: blue;\">The economy contracted at a record rate last quarter and July setbacks for the jobs market added to signs of a slowing recovery as the country faces a summer <a href=\"https:\/\/www.wsj.com\/articles\/new-coronavirus-surges-stall-economic-recovery-11594209321\">surge in coronavirus infections<\/a>. <\/p>\n<p>The Commerce Department said U.S. gross domestic product\u2014the value of all goods and services produced across the economy\u2014fell at a seasonally and inflation adjusted 32.9% annual rate in the second quarter, or a 9.5% drop compared with the prior quarter. The figures were the steepest declines in more than 70 years of record-keeping.<\/p>\n<p>Meanwhile, the Labor Department\u2019s latest figures on unemployment benefits suggested the jobs market was faltering. The number of workers applying for initial unemployment benefits rose for the second straight week\u2014by a seasonally adjusted 12,000 to 1.43 million in the week ended July 25\u2014after nearly four months of decreases following a late-March peak. The number of people receiving unemployment benefits increased by 867,000 to 17 million in the week ended July 18, ending a downward trend that started in mid-May. <\/span><\/p><\/blockquote>\n<p>This is unbelievably grim.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not only did initial jobless claims go up for the 2nd week in a row, but the 2nd quarter GDP numbers show an annual 32.9% decline. These numbers are not just the worst for the US since modern statistics started being collected after World War II, these numbers are, &#8220;US investors are assisting with privatizing &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[392,450,458,494],"class_list":["post-176248","post","type-post","status-publish","format-standard","hentry","tag-economy","tag-employment","tag-recession","tag-statistics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176248"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=176248"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176248\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}