U.S. Jobless Claims Total Nearly 39 Million, 17% Of Americans Out Of Work Amidst CV Shutdown

Chris Menahan
InformationLiberation
May. 21, 2020

At what point will people realize shutting down all small businesses with no regard for their individual circumstances was a bad decision?

From Courthouse News, "Another 2 Million Jobless: 17.2% of US Out of Work":

Imagine everyone living in Houston applied for unemployment insurance benefits all at once. Last week, 2.43 million Americans filed initial claims for unemployment insurance benefits -- a little more than the largest city in Texas -- the U.S. Labor Department reported Thursday.

Amid the spread of Covid-19, 17.2% of Americans eligible for unemployment benefits are receiving them -- about 25 million laid off workers.

The Department of Labor used covered employment of 145,671,710 in its calculation, defining that term as Americans who are "unemployed through no fault of their own," while also meeting certain work and wage requirements.

On average 3.4 million Americans applied for benefits ever week over the last four weeks -- cohorts roughly equal to the population of Connecticut.

Since mid-March, 38.6 million Americans applied for benefits. About 70% of that figure received them.

By Pew's count, 17% of Americans lost their jobs and 23% received pay cuts from the pandemic. Some 43% of Americans report meanwhile that someone in their household lost a job or wages due to the pandemic.

Wealth inequality is also hitting all-time highs because small businesses were all shut down and deemed "unessential" while megacorporations like Amazon, Costco and Walmart were allowed to thrive.

BIG TECH GETS BIGGER: AMAZON, FACEBOOK STOCKS HIT ALL-TIME HIGH... https://t.co/PBB60IcUMW
— Drudge Report Feed (@drudgefeed) May 21, 2020

Bankster elites are now trying to front-run the backlash by positioning themselves as champions of the downtrodden (now that they've been bailed out with $6 trillion of our taxpayer dollars).

Jamie Dimon says he hopes policy makers use the Covid-19 crisis as a catalyst to rebuild a more-inclusive economy https://t.co/MmWuCE3FYh
— Bloomberg (@business) May 19, 2020

We let big box retailers stay open because they sell essential goods, but they also sell the same nonessential goods that small stores - who were forced to close - normally do. We can't let this run small stores out of business and need to make sure we level the playing field.
— Gary Cohn (@Gary_D_Cohn) May 20, 2020

George Soros: We’re now in ‘revolutionary moment’ that allows us to achieve the ‘inconceivable’ https://t.co/UMVzQgAGH3
— LifeSite Catholic (@LSNCatholic) May 15, 2020

The situation is so ridiculous you can't help but laugh.

George Soros, Jamie Dimon and Gary Cohn are being presented to us as our new revolutionary leaders!

from Occupy Wall Street, to Occupied by Wall Street. from r/ABoringDystopia

I suspect the masses, who appear to be more skeptical of our rulers than ever, are not going to go along with this.

The situation is becoming ripe for a populist-nationalist like Tucker Carlson to rise to power.

Follow InformationLiberation on Twitter, Facebook, Gab and Minds.