{"id":176601,"date":"2020-05-08T18:39:00","date_gmt":"2020-05-08T23:39:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/05\/08\/14-7\/"},"modified":"2020-05-08T18:39:00","modified_gmt":"2020-05-08T23:39:00","slug":"14-7","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/05\/08\/14-7\/","title":{"rendered":"14.7%"},"content":{"rendered":"
<\/a>
The Scariest Jobs Chart Ever \u2026\u2026\u2026
Just Got Scarier<\/i><\/div>\n

Yes, this was the level of unemployment in mid-April, and there have been SIXTEEN MILLION<\/b> new jobless claims since then, which implies that the next unemployment report will show U-3 unemployment at something north of 25%.<\/p>\n

It should be noted though, that my estimate was off by 1.1%, so you should have taken the under.<\/p>\n

The good folks at Calculated Risk<\/i> have the rundown<\/a>:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u2022<\/td>\nU-3 (normal) Unemployment <\/td>\n14.8%.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nU-6 Unemployment (Total unemployed + discouraged workers, + involuntary part time)<\/td>\n22.8%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nYear over year workforce change<\/td>\n-19.42M<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nMonthly workforce change<\/td>\n-20.5M<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nLabor force participation in April<\/td>\n60.2%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nDown 2.5%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nEmployment-population ratio in April<\/td>\n51.3%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nDown 8.7%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

This is Russian “Market Liberalization” under Yeltsin bad, which makes it a catastrophe.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Scariest Jobs Chart Ever \u2026\u2026\u2026Just Got Scarier Yes, this was the level of unemployment in mid-April, and there have been SIXTEEN MILLION new jobless claims since then, which implies that the next unemployment report will show U-3 unemployment at something north of 25%. It should be noted though, that my estimate was off by …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[450,458,494],"class_list":["post-176601","post","type-post","status-publish","format-standard","hentry","tag-employment","tag-recession","tag-statistics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176601"}],"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=176601"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176601\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}