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The week of March 16-22, the US multiplied its unemployment insurance claims by 12, to 3.3 million claims . The week of 23-29, he doubled them. That means that in just 14 days the world's first economy has lost 10 million jobs. That is the conclusion of official statistics released by the Department of Labor today.
The data reveals the unprecedented collapse of the US following the emergence of the coronavirus. In these two weeks alone, the US has destroyed as many jobs as it lost in three months during the 2008 crisis. The new figures come just a day before unemployment and job creation data for the month of March are released. But the figures released today will not be a true x-ray of the American economy, because their data does not collect all month.
The employment crisis occurs when the economy is in free fall. Investment bank Goldman Sachs forecasts a 9% drop in GDP in the first quarter and 30% in the second, which is the biggest drop in peacetime since statistics exist.
JP Morgan, the largest US bank by assets, calculates declines of 10% and 25%, respectively. It should be noted, however, that the statistical system used in the United States is the annualized quarter-on-quarter rate, which introduces much more volatility in the numbers than the year-on-year rate used in Spain, thus the decrease, although the highest from the point historically, it will not have the dimensions that those numbers suggest for the non-American voter.
Meanwhile, the Speaker of the House of Representatives, Nancy Pelosi , has announced the creation of a committee of members of the two parties to oversee the use that the Government will make of the stimulus package worth PABLO PARDO. Washington. Correspondent. - The week of March 16-22, the US multiplied its claims for unemployment insurance by 12, to 3.3 million claims. The week of 23-29, he doubled them. That means that in just 14 days the world's first economy has lost 10 million jobs. That is the conclusion of official statistics released by the Department of Labor today.
The data reveals the unprecedented collapse of the US following the emergence of the coronavirus. In these two weeks alone, the US has destroyed as many jobs as it lost in three months during the 2008 crisis. The new figures come just a day before unemployment and job creation data for the month of March are released. But the figures released today will not be a true x-ray of the American economy, because their data does not collect all month.
The employment crisis occurs when the economy is in free fall. Investment bank Goldman Sachs forecasts a 9% drop in GDP in the first quarter and 30% in the second, which is the biggest drop in peacetime since statistics exist. JP Morgan, the largest US bank by assets, calculates declines of 10% and 25%, respectively. It should be noted, however, that the statistical system used in the United States is the annualized quarter-on-quarter rate, which introduced much more value in the numbers than the year-on-year rate used in Spain, thus the decrease, although the highest from the point historically, it will not have the dimensions that those numbers suggest for the non-American voter.
Meanwhile, the Speaker of the House of Representatives, Nancy Pelosi, has announced the creation of a committee of members of the two parties to oversee the use that the Government will make of the stimulus package worth 2 trillion dollars (1.84 trillion dollars). euros) approved last week. Democrats also want a new stimulus package for the economy with incentives to use renewable energy and more aid for workers who lose their jobs. (1.84 trillion euros) approved last week. Democrats also want a new stimulus package for the economy with incentives to use renewable energy and more aid for workers who lose their jobs.
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