Sunday, May 3, 2020

3/5/20: Updated: Shocking Wave of Jobs Destruction

Updating my previous post on the subject of jobs losses in the U.S. (

We are now one week away from the unemployment claims filed in March-May 2020 exceeding the grand total of all jobs destroyed during all U.S. recessions between 1945 and 2019. That is, before actually exceeding the number of all jobs destroyed over all recessions over 75 years combined.

Current estimated non-farm payrolls are approximately back to 1997 levels, throwing payroll numbers some 23 years back within the span of just 2 months:

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