38 Million Jobless

Its been a few weeks since I caught you up with the jobless numbers here on ItsDumbMoney, well this last weeks numbers came in at 2.44 million Americans filed for unemployment benefits for the first time.

As you can see the peak has already passed and its on its way down, but the 9-week total is at 38.64 million Americans that have filed for unemployment now! Again this is the worst data ever compiled in over 50 years of tracking.

Those are “initial” claims “continuing” claims are still at the highest level ever!

Currently we have lost 413 jobs for every confirmed US death from covid-19.

Here are a few more visuals to put things into perspective…

Industries hit the hardest by the pandemic.

The unfortunate thing is that for most lower earners it pays more for them to NOT work and take unemployment, sad thing is they think they are winning by doing this, in the long run this will have a greater toll on their mental health and confidence levels.

Roughly 40% of workers stand to make more money while unemployed than from their former jobs, according to one analysis of expanded benefits.

“I think it’s a good compromise with the situation we’re in,” Jesse Rothstein, director of the Institute for Research on Labor and Employment at the University of California, Berkeley, and former chief economist of the U.S. Department of Labor, said of the $600 payments.

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