The Shad Olson Show

Top Menu

  • Home
  • POLITICS
  • U.S.
  • WORLD
    • EDITORIAL: Shad Olson
  • RADIO
  • Contact Us

Main Menu

  • WORLD
  • U.S.
  • POLITICS
  • ECONOMY
  • TODAY’S SHOW
  • RADIO
  • VIDEO
  • Home
  • POLITICS
  • U.S.
  • WORLD
    • EDITORIAL: Shad Olson
  • RADIO
  • Contact Us

The Shad Olson Show

The Shad Olson Show

  • WORLD
  • U.S.
  • POLITICS
  • ECONOMY
  • TODAY’S SHOW
  • RADIO
  • VIDEO
BREAKING NEWSECONOMY
Home›BREAKING NEWS›Virus Depression: Jobless Claims Could Approach 2-Million Next Week

Virus Depression: Jobless Claims Could Approach 2-Million Next Week

By Shad Olson
March 20, 2020
1789
0
Share:

Initial jobless claims rose 281,00 this week, exceeding projections of 211,000 and sending yet another bearish signal through an already collapsing market. But economists say next week’s jobless number could exceed 1.5-million or more as the impacts of coronavirus social directives slam the job market.

Bars, restaurants, coffeeshops and retail sales outlets idled by COVID-19 social distancing protocols contributed the majority of the claims, fulfilling an expected rise in unemployment as the stock market collapse and projected drop in Gross Domestic Product begin impacting employer labor demand, with economists warning that a labor market collapse is already underway and could surpass 1.5-million or more in next week’s report.

Economists said their own tracking of data from individual states suggests claims could shoot up to at least 1.5 million this week. Data for the week ending March 21 will be published next Thursday.

The theoretical relationship between unemployment and domestic production follows a formula familiar to economists as Okun’s Law, which predicts that for every 2% decline in GDP, unemployment rises by 1% and vice-versa. With projections of a virus inflicted 10-15% reduction in GDP over the coming year, (versus a projected 2%-2.5% rise, pre-virus) simple math indicates an expected minimum direct pullback in rounded workforce numbers of 7% to 10%, meaning unemployment at 10% to 16% by the end of the coming year. That estimation doesn’t include continuing liquidity issues and ripple effects of a targeted 40-50% market correction and labor participation impacts.

Treasury Secretary Steven Mnuchin this week predicted that based on a projected -10% drop in GDP, unemployment could eventually reach 20% or higher as a result of pandemic impacts.

“State filings offices for Ohio, Pennsylvania, and Connecticut report claims filings this week are running six to 14 times higher than the same week last year,” said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.

President Donald Trump has promised stimulus measures to help blunt the personal fallout of an economic reversal of fortune that has already erased all of the wealth creation and market valuation gains made during his Presidency in the span of three weeks, notably promising a $2,000 check to most American citizens based on income, to help assist with work stoppages because of the virus.

Previous Article

The Shad Olson Show, March 20, 2020

Next Article

The Shad Olson Show, March 23, 2020

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • BREAKING NEWSEDITORIAL: Shad Olson

    Roaring Return to Augusta: Tiger Shoots Opening 71 on One Good Leg. Surprises No One.

    April 7, 2022
    By Shad Olson
  • BREAKING NEWSCULTURE WAR

    ‘Creepy Porn Lawyer’ Avenatti Arrested for Domestic Assault

    November 14, 2018
    By Shad Olson
  • BREAKING NEWSCULTURE WAR

    Famous Rapid City ‘Art Alley’ Shows Trump Assassinated With Arrows

    November 9, 2018
    By Shad Olson
  • BREAKING NEWSWORLD

    ‘Wuhan Death Smog’: Locals Say China Burning Evidence of Outbreak’s Scale as Smoke Envelops City

    February 6, 2020
    By Shad Olson
  • BREAKING NEWSFAKE NEWS

    The Streisand Effect: Big Tech Erasure of Alex Jones Backfiring

    August 10, 2018
    By Shad Olson
  • BREAKING NEWSWORLD

    ‘Worse Than Italy’: Pandemic Will Burn Hotter in US as Fewer Americans Will Comply With Guidelines

    March 19, 2020
    By Shad Olson

Leave a reply Cancel reply

  • RADIOTODAY'S SHOW

    The Shad Olson Show, May 28, 2019

  • RADIOTODAY'S SHOW

    THE SHAD OLSON SHOW, MARCH 30, 2023

  • RADIOTODAY'S SHOW

    The Shad Olson Show, July 23, 2021

Timeline

  • March 31, 2023

    THE SHAD OLSON SHOW, MARCH 31, 2023

  • March 30, 2023

    THE SHAD OLSON SHOW, MARCH 30, 2023

  • March 29, 2023

    THE SHAD OLSON SHOW, MARCH 29, 2023

  • March 28, 2023

    THE SHAD OLSON SHOW, MARCH 28, 2023

  • March 24, 2023

    THE SHAD OLSON SHOW, MARCH 24, 2023

Latest Comments

  • Bruce Whalen
    on
    December 7, 2022
    KABOOM! Shad, great analysis!

    Dakota War College: The GOP Fake News Operation Protecting South Dakota’s RINO Infestation

Find us on Facebook

Hot blonde with big boobs and sexy boots ass fucked Tape Girl hot indian sex hot bhabhi sex Telugu Step Brother fuck young step sister hardcore sex video with clear hindi audio Indian girl forced and abused in Tamil movie Horny amateur babe slammed in doggystyle MAGMA FILM Interviewing Riley Reid in the States Mikka and Zamutnik

logo

Regardless of political party, religious faith, economic class or avocation, Americans of every description must realize they are and have been targeted for obsolescence.

Defeating the long standing antihuman plot to control mankind covertly through every means necessary can only be defeated by a popular return to personal awakening and excellence.  It starts with you.

About us

  • THE SHAD OLSON SHOW
  • 1-7-SHAD-USA-75
  • 1-774-238-7275
  • shadolsonshow@gmail.com
  • Recent

  • Popular

  • Comments

  • THE SHAD OLSON SHOW, MARCH 31, 2023

    By Shad Olson
    March 31, 2023
  • THE SHAD OLSON SHOW, MARCH 30, 2023

    By Shad Olson
    March 30, 2023
  • THE SHAD OLSON SHOW, MARCH 29, 2023

    By Shad Olson
    March 29, 2023
  • THE SHAD OLSON SHOW, MARCH 28, 2023

    By Shad Olson
    March 28, 2023
  • Amid Mass Cremation Fears, China Delivers Another 40 Giant Incinerators to Wuhan

    By Shad Olson
    February 19, 2020
  • 14 Times Christine Blasey-Ford’s Testimony Didn’t Add Up (And Counting)

    By Shad Olson
    September 28, 2018
  • A Mother’s Choice

    By Shad Olson
    May 13, 2018
  • Blasey Ford GoFundMe Tops $500,000, Collects $350K After Senate Testimony

    By Shad Olson
    September 28, 2018
  • Bruce Whalen
    on
    December 7, 2022

    Dakota War College: The GOP Fake News Operation Protecting South Dakota’s RINO Infestation

    KABOOM! Shad, great analysis!

Photostream

    Follow us

    • Contact
    • About Us
    • Home