{"id":176545,"date":"2020-05-21T18:03:00","date_gmt":"2020-05-21T23:03:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/05\/21\/2-4-million-initial-jobless-claims\/"},"modified":"2020-05-21T18:03:00","modified_gmt":"2020-05-21T23:03:00","slug":"2-4-million-initial-jobless-claims","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/05\/21\/2-4-million-initial-jobless-claims\/","title":{"rendered":"2.4 Million Initial Jobless Claims"},"content":{"rendered":"<p><a href=\"https:\/\/i.imgur.com\/ICb1hFf.jpg\"><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/ICb1hFf.jpg\" style=\"cursor: pointer; float: right; margin: 0px 0px 10px 10px;\" width=\"350\" \/><\/a>That is 4 times worse than the record before this all started byt <a href=\"https:\/\/www.marketwatch.com\/story\/jobless-claims-jump-44-million-in-mid-may-as-applications-for-federal-benefits-surge-2020-05-21\">it&#8217;s seen as a sign of hope<\/a>, which means that were screwed.<\/p>\n<p>Something that I didn&#8217;t realize though, was that in addition to the 37.1 million initial claims since this all started, there is an additional 1 million claims that were through a federal program than had not been counted:<\/p>\n<blockquote><p><span style=\"color: blue;\">The numbers: More than 2.4 million unemployed Americans applied for unemployment benefits last week using the traditional method of reporting initial claims, but the real number was almost 1 million higher if applicants made eligible through a new federal relief program are included.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">First-time filings for unemployment insurance totaled 2.44 million last week on the traditional seasonally adjusted basis. While still way above pre-coronavirus levels, new claims have declined for seven straight weeks following the apparent peak of 6.9 million seen in late March. <\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">\u2026\u2026\u2026<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">What happened:Since the coronavirus pandemic and lockdowns started in mid-March, some 35.5 million people have applied for jobless benefits through their states, based on actual or unadjusted totals.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Roughly 8.1 million new claims have been filed via a new federal program that has made self-employed workers and independent contractors such as writers or Uber drivers eligible for the first time ever.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Total new claims since mid-March: almost 44 million.<\/span><\/p><\/blockquote>\n<p>We are f%$#ed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>That is 4 times worse than the record before this all started byt it&#8217;s seen as a sign of hope, which means that were screwed. Something that I didn&#8217;t realize though, was that in addition to the 37.1 million initial claims since this all started, there is an additional 1 million claims that were through &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-176545","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\/176545"}],"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=176545"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176545\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}