“Insured unemployment rate” in California spiked to 27.7%, “continued claims” hit 4.8 million. In terms of “initial claims,” Georgia & Florida move into 1st and 2nd, ahead of California.
Tens of millions of people, many at the lower end of the income scale, lost their jobs. But stocks surge thanks to the Fed’s helicopter money for Wall Street & asset holders.
Gut-wrenching 30.3 Million Initial Unemployment Claims in six weeks. Florida ascends to Number One as it tries to catch up. “Insured unemployment rates” already over 20% in some states as of Apr 11.
These layoffs are gut-wrenching and gigantic. But six states reported “fewer layoffs” in some industries – as there are not that many people left to lay off?
