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Thursday, March 26, 2020

High Five!

Jobless claims rose to 3.28 million. It's expected to rise in March and April.
"We'll see what happens!" are the words of a president who has no clear path to solving the country's most devastating natural disaster. For folks who don't believe climate change isn't real, well here you go. We have a pandemic thanks to a virus that has no known cures. We have leaders who are about to pile more debt to an already stressed out country. The stock market is volatile and unpredictable.

The Great American Comeback, folks.

Estimated amount of people losing their jobs will be over 30 million. The lives lost to the coronavirus could total 50,000 Americans. Each state, territory, federal building, military installation and embassy are affected. We are now in a global pandemic. There are signs that the nation may be entering a recession due to the involuntary consequences pushed by the coronavirus.

Right now, over 3.3 million filed for unemployment claims shattering a record.

The U.S. Labor Department report issued on Thursday gave a grave indicator of how Americans being forced off the job is going to have massive impact on country.

Donald J. Trump knows that. He is demanding that the country gets back to work right after Easter.

He knows that his singular message about how "great" the economy is on the line. He knows he's responsible for the outcome and he knows the political ramifications of a lazy response are going to hurt his chances of winning reelection.

DONALD J. TRUMP HAS A 52% CHANCE OF WINNING REELECTION.

The service industry was hit the hardest.

Restaurants, hotels, cruise lines, casinos, movie theaters, gyms, retail providers, airlines and schools took a hit. Even car manufacturers are closing production lines out of fear workers could be testing positive for the coronavirus.

These jobs may not come back due to the coronavirus.

The previous record of unemployment was set in 1982.

The surge in weekly applications was a stunning reflection of the damage this viral outbreak is doing to the economy.

Among the hardest hit sectors was the service industry, and particularly accommodation and food service. Nearly every state cited COVID-19 as the reason for the high number of claims.

Health care and social assistance, arts, entertainment and recreation, transportation and warehousing/manufacturing industries were also heavily impacted, the DOL said.

The coronavirus pandemic has forced thousands of businesses to close amid government-mandated stay-in-place orders.

The staggering figure comes as the unemployment rate was near a 50-year low just weeks ago.

The previous record for weekly unemployment filings was 695,000 in 1982.

Thursday's unemployment filing is three times the total number of people employed by the major U.S. corporations -- Apple, Target, General Motors, Boeing and McDonalds -- combined.

"The coronavirus outbreak is a truly unprecedented event in American economic history, flash-freezing the economy by forcing businesses to shut down and putting millions of American workers out of jobs," Glassdoor's senior economist Daniel Zhao said in a statement Thursday.

"Most historical comparisons of this scale are inadequate. The closest would be natural disasters like major hurricanes," he added. "However, as today's report shows, the coronavirus outbreak is economically akin to a major hurricane occurring in every state around the country for weeks on end."
Businesses are closing left and right due to the coronavirus.
With the coronavirus pandemic, Americans are being ordered to stay at home if they're sick and those who are able to work are doing under tight restrictions. Many companies had to lay off millions because of the spread of the coronavirus.

Here's things to remember about the coronavirus.

1. Wash your hands frequently
2. Do not touch your face (mouth, nose and eyes)
3. Cough into your elbow instead of your hands
4. Keep a safe distance (at least 6 to 10 feet) from individuals.
5. If you're sick, please stay home.
6. There is no treatment or cure for the COVID-19.
7. Follow state and federal laws regarding this.
8. Do not hoard items like toilet paper, bread, gloves, hand sanitizer, etc.
9. Use social media like Facebook Messenger, Google Duo, Skype or social media to connect.
10. COVID-19 can live on surfaces for more than 72 hours. Including steel, plastic and cardboard.

If you need more information, visit the Centers for Disease Control and Prevention at cdc.gov.



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