08 May 2020


The Scariest Jobs Chart Ever ………
Just 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 1.1%, so you should have taken the under.

The good folks at Calculated Risk have the rundown:

U-3 (normal) Unemployment 14.8%.
U-6 Unemployment (Total unemployed + discouraged workers, + involuntary part time)22.8%
Year over year workforce change-19.42M
Monthly workforce change-20.5M
Labor force participation in April60.2%
Down 2.5%
Employment-population ratio in April51.3%
Down 8.7%
This is Russian "Market Liberalization" under Yeltsin bad, which makes it a catastrophe.


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