Unemployment Claims Jump By Another 5.2 Million In A Week

This didn't have to happen, but we have a fool in the Oval Office who didn't take action soon enough to mitigate the effects of the COVID-19 pandemic in the U.S.:

As businesses remain closed during the coronavirus pandemic, an unrelenting jobs crisis continues to push Americans onto unemployment rolls.

Another 5.2 million workers filed for their first week of unemployment benefits last week, according to the US Department of Labor, bringing the total number of Americans who have filed initial jobless claims to around 22 million, or roughly 13.5% of the labor force, since March 14. [snip]

The country's official unemployment rate, which climbed to 4.4% in March, from a historic low of 3.5% in February, is now expected to hit double-digits in April. [snip]

Many economists believe that a spike in unemployment will be temporary and that many — but not all — of the lost jobs will come back when the coronavirus crisis is over. But ultimately, their forecasts are highly uncertain, and the economic recovery will depend on the course of the virus.  (our emphasis)

That final sentence underscores the importance of not relaxing the measures that have been taken by governors and local officials to stop the spread.  We have to win the battle against the virus before we can begin to re- open the economy in any large measure, lest we see a second wave take root and kill even more Americans.  Health officials and even most business leaders understand that (see post below). One dangerous, self- interested sociopath who thinks he has imperial powers does not.