The day after Christmas, millions of Americans will lose their jobless benefits, according to a new study. And that could spell financial ruin for many people, like 44-year-old Todd Anderson in the small town of Mackinaw City, Mich.
The Treasury disbursed $146 billion in unemployment benefits in the three months through May, according to data published Monday — more than in the whole of 2009, when jobless rates peaked after the financial crisis.But even that historic figure falls short of a total bill that should have reached about $214 billion for the period, according to Bloomberg calculations based on weekly unemployment filings and the average size of those claims.
The Prime Minister vowed to make “colossal investments” in infrastructure and skills as the latest Office for National Statistics data showed 730,000 fewer people were in paid employment in July than in March, when the UK’s coronavirus lockdown began.
„We’re seeing an unprecedented loss in jobs, and what’s going to come along with that, is unfortunately the loss of health insurance as well,“ Kaiser Executive Vice President Larry Levitt told CBS News‘ Michelle Miller.
In the coming months no less than five senior members of the security establishment face replacement.
They are: Yossi Cohen, head of Mossad (Israel’s foreign espionage agency); Nadav Argaman, head of the Shin Bet, (domestic security service); Major-General Tamir Hayman, chief of Military Intelligence, and its Research Directorate director, Brigadier-General Dror Shalom; and finally, Meir Ben Shabat, head of the National Security Council.
The June jobs report came following a massive upside surprise in May, during which the economy unexpectedly added payrolls, when a loss of more than 7 million jobs had been expected. Estimates for the June payrolls gain spanned a wide range, though none of the more than 70 economists polled by Bloomberg ahead of time expected to see net job losses for June.
The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless.
As the coronavirus-induced shutdown tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.
Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
Another 2.2 million people sought aid under a new federal program for self-employed, contractor and gig workers, who are now eligible for jobless aid for the first time.
The Labor Department does not include all of the people who have finished collecting benefits, but did not find a new job. Small business owners, who had to close their companies down, have said that they haven’t been able to collect unemployment even though they aren’t earning any money.
The US economy lost 20.5 million jobs in April, the Bureau of Labor Statistics said Friday — by far the most sudden and largest decline since the government began tracking the data in 1939.
Another 3.8 million U.S. workers filed for unemployment insurance benefits last week, bringing the total number of Americans who have sought jobless aid since March to at least 30 million. All told, the layoffs amount to the fastest loss of jobs on record.
On March 22, President Trump famously tweeted that “we cannot let the cure be worse than the problem itself.” While many rushed to critique Trump’s tweet based on the perception that he was trivializing the severity of the coronavirus pandemic, he was simply saying that we should look at net benefits: Weigh the costs and the benefits associated with policy prescriptions.
Coldiretti explained, adding that „the number of Italians who need food aid to survive reached 3.7 million people.“
That brings the total of jobless claims in just five weeks to more than 26 million people. That’s more than all the jobs added in the past 10 years since the Great Recession.
Economic forecasts are becoming routine that predict unemployment will exceed its historic 25 percent peak during the Great Depression, and the number of jobs lost in a mere three weeks now exceeds the 15 million that it took 18 months for the Great Recession to bulldoze from 2007 to 2009.
The USDA rule change affects people between the ages of 18 and 49 who are childless and not disabled. Under current rules, this group is required to work at least 20 hours a week for more than three months over a 36-month period to qualify for food stamps, but states have been able to create waivers for areas that face high unemployment.
The number of unemployed in Italy jumped by more than one million people between the start of the global economic crisis in 2008 and 2012, the national statistical agency Istat said Thursday.
At the same time real wages have risen yet again by 1.5% after inflation, and the unemployment rate has fallen to just 3.9%. This is the first time it has been below 4% in 45 years. Guido is still waiting for those 800,000 job losses that the Remain Campaign promised us…
Mr. Gapen believes the unemployment rate could sink as low as 3 percent by the end of 2019. That would bring it to levels last seen in 1953, the height of the economic boom after World War II.
The U.S. economy added 223,000 jobs in May as U.S. companies continued their hiring spree, according to the Labor Department’s monthly jobs report released Friday. The unemployment rate fell to 3.8 percent, the lowest since 2000.
The unemployment rate dipped to 3.8 percent in May, reaching an 18-year low. That’s encouraging, yet unemployment was lower right after World War II, when it fell as low as 2.5 percent in 1953. The 1960s also boasted several periods of lower unemployment.