Saturday, January 16, 2021

Tag: economist says

Fewer than half of working Americans will have a paycheck in May as devastating coronavirus layoffs persist, economist says

from True Pundit:

The millions of Americans who have lost their jobs in recent weeks due to the coronavirus pandemic will have a devastating effects on the economy going forward as workers are left without pay.

Losses in April alone could push the unemployment rate to 16%, according to James Knightley, chief international economist at ING. If another 10 million Americans file jobless claims in May, that would push the unemployment rate to 22%, he said.