Holy cow, Los Angeles. The economy is gradually opening up. But the exodus has started hard and heavy. And the influx has stopped.
How rates soared by state from February to March to April.
Federal Pandemic Unemployment Assistance (PUA) for gig workers doubles initial claims under state programs. Here are the “Insured Unemployment Rates” for each of the 50 states & DC.
“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.
“Insured unemployment rate” spikes to 15.5%, is already over 20% in some states, 25% in Vermont.
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.
Gut-wrenching tally balloons. Gig workers and contract workers are starting to be included. Florida tries to catch up.
“Three times deeper than the Great Recession?”
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?