'There is no precedent:' April jobs report set to show 'horrific' impact of pandemic on labor market

[CatWoman]

The April U.S. jobs report is expected to shatter records when it comes to measuring the coronavirus’s impact on the domestic labor market.

Domestic employers likely slashed more than 20 million jobs in April, and the unemployment rate likely surged into double-digit percentages, according to consensus economists.

Here are the main figures expected from the Department of Labor’s Friday’s report, set for release at 8:30 a.m. ET. These estimates are as of Thursday afternoon and are based on consensus data compiled by Bloomberg:

Change in non-farm payrolls: -21.705 million expected, vs. -701,000 in March

Unemployment rate: 16.0%, vs. 4.4% in March

Average hourly earnings month on month: +0.4%, vs. +0.4% in March

Average hourly earnings year on year: +3.3% expected, vs. +3.1% in March


https://finance.yahoo.com/news/jobs-report-april-2020-unemployment-rate-coronavirus-pandemic-165316546.html


Trump keeps pushing and pushing to try to jump start the economy. I can't see things turning toward the black -- significantly-- by November. No matter how much the moron keeps pushing. People are dying; they don't give a fuck about his "economy".

[Newest Reality]

1. That's a good point.

It is only about the people now in reality. The economy can go screw itself along with the stock market.

If you have no consumers alive and healthy and eating food, you have no economy, or at least one that matters to anyone but the wealthy now, and we greatly outnumber them to the point that they won't even matter anymore.

They better do more to get a handle on this or here comes another preventable, unprecedented catastrophe. It is building up right now.

The people who are living and breathing and living in this country are the priority. If they ignore that, its going to get very ugly. More help better come quick.

[SoonerPride]

2. The economy won't recover until the pandemic is handled

The NYT has a wonderful analysis that economic activity and hours worked was on a massive decline in advance of states closing things down.

The public was closing things down on its own behavior.

So the state opening up businesses won’t make a big difference in returning people to stores and restaurants.

[JI7]

3. Fucking stupid people still act like the economy and pandemic are 2 separate issues

The first and only way to improve the economy right now is the find a solution to Covid 19 .

People purposely shut things done because of health risks from staying open.

The earlier we could have dealt with the pandemic the earlier and more possible it would be for people to start opening up again.

We needed a national plan from the beginning and to take care of those who would not work from having to shut down.

Nobody should have had to worry about money and paying for basic needs while we dealt with the pandemic.