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A Record 6.6 Million Americans Filed For Unemployment Last Week (nbcnews.com) 277

A record 6.6 million Americans filed for unemployment benefits last week, the latest brutal reminder of the toll the coronavirus pandemic is taking on the U.S. economy. From a report: Analysts had predicted a jobless claims total of anywhere between 3 million and 6 million, after huge numbers of businesses across the country were forced to close down due to the need for social distancing, leaving millions of Americans without work. Thursday's figure eclipses even the record-shattering 3.28 million jobless claims from the week before, the first real marker of the number of people out of work, according to data released last week by the Department of Labor for the period ending March 21. Still, some economists said the actual number of unemployed could be much higher, since many applicants had experienced trouble filing a claim, as state labor departments became overwhelmed. "These are numbers that are way out of the range that we have seen," Michelle Meyer, head of U.S. economics at Bank of America, told NBC News. "During the financial crisis, we were seeing a peak of about 650,000 [first-time applications] a week."
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A Record 6.6 Million Americans Filed For Unemployment Last Week

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  • by spun ( 1352 ) <loverevolutionary@@@yahoo...com> on Thursday April 02, 2020 @10:09AM (#59900490) Journal

    We love having our employer pay for our insurance. And when we lose that job, why, we can use COBRA to pay the full price of that insurance. While unemployed. God bless capitalism!

    • by Nidi62 ( 1525137 )

      We love having our employer pay for our insurance. And when we lose that job, why, we can use COBRA to pay the full price of that insurance. While unemployed. God bless capitalism!

      My company did a pay, er, ahem, hour cut (I guess there's a difference?), but also allowed for people to take LOAs and apply for unemployment without contesting it and would continue to provide benefits while you were on the LOA. But with the wife already on disability (and therefor reduced income) for just giving birth (her company doesn't provide maternity leave) I couldn't risk the very real possibility of being on less than half our income for a month by taking the LOA and getting denied unemployment.

      • by Pikoro ( 844299 )

        I think I know where you work, as my company has the exact same setup. I'm waiting for the first month of LOAs to pass so I can see if they got their unemployment approved or not before deciding to take May off as an LOA.

      • by kenh ( 9056 )

        Unemployment benefits have been increased by $600/week as part of the recent stimulus bill.

        I have concerns about employers "pretending" a worker is unemployed by "agreeing not to challenge unemployment claims" made by workers that opt for a leave of absence... That sounds like the kind of thing that will bite them in the end - seasonal workers file for unemployment after being actually fired when there's no more work, an employee choosing to take a leave of absence doesn't qualify as "unemployment" in the l

        • by Nidi62 ( 1525137 )

          I have concerns about employers "pretending" a worker is unemployed by "agreeing not to challenge unemployment claims" made by workers that opt for a leave of absence... That sounds like the kind of thing that will bite them in the end - seasonal workers file for unemployment after being actually fired when there's no more work, an employee choosing to take a leave of absence doesn't qualify as "unemployment" in the legal sense, I suspect.

          That's what I was worried about. If I could get unmployment, that plus the $600 week would probably come out monthly to about what I am making while working with my 25% cut. But I expect a lot of the voluntary leaves won't get approved.

        • From everyone who I have met in my lifetime. There is only a small handful of people willing to scam the unemployment and welfare system.
          Employers especially those who often will need to face public scrutiny if they are saying they had laid off more workers then absolutely necessary.

          When they begin to hire again, they will need to convince the public that they are a safe place to work. Having a higher than normal layoff rate doesn't help.

          Back in 2008, I worked for a company that laid off half its workforce

        • It's not an LOA (Score:2, Flamebait)

          by rsilvergun ( 571051 )
          It's a furlough, which is exactly what unemployment was intended for.

          It's just that we've stopped using the words "furlough" and "laid off" in their literal sense because nobody wants to say the "F" word ("Fired").

          The point isn't that there isn't work to do, it's that the employees should not be going to work. Period.

          You are correct though, our system of unemployment and social welfare isn't set up to stop a global pandemic. These people could technically go to work so that you didn't have to pa
    • Re: (Score:3, Insightful)

      by Anonymous Coward

      Or the state could provide healthcare like in other less psychopathic western countries .......

      • Re: (Score:2, Interesting)

        by cayenne8 ( 626475 )

        Or the state could provide healthcare like in other less psychopathic western countries .......

        I was helping someone try to submit their unemployment claims, since they are elderly and don't have a true computer.

        I was confronted with a nifty little web interface that looked as if it hadn't been updated since about 1995-6....and specifically mentioned it likely wouldn't work with mobile devices and works BEST with MS Internet Explorer and possible Mozilla Firefox.

        I got everything filled in and hit the sub

        • by ranton ( 36917 )

          You obviously haven't used private health care software such as Epic if you think the private industry is doing a good job modernizing. And Epic is one of the good ones in that industry.

          • Truly, I do find that most people who complain that corporations are better at X than the government have never actually interacted with a corporation on X. Most corporations can't even get their own billing right consecutively from month to month and that's the one thing you'd think they would really nail down.
        • by gtall ( 79522 ) on Thursday April 02, 2020 @11:10AM (#59900758)

          No, that's the Republican Party's notion of government. They've underfunded parts of the budget for years and now those parts are weak. Whenever a proposal comes along to fund those parts better, the Republicans honk on about waste and abuse and taxes, apparently they cannot be raised lest legions of Satan's devils are unleashed.

          And now they campaign, like your complaint, that the Fed. Gov. doesn't work.

        • by whitroth ( 9367 ) <whitroth@5-BOHRcent.us minus physicist> on Thursday April 02, 2020 @12:10PM (#59901082) Homepage

          Right... the same massively understaffed government workers. I mean, what did you think all the tax breaks for the rich were about, just giving them more money?

          For that matter, they've massively cut IRS staffing, so the percentage of big companies and wealthy individuals getting audited is... someday.

          This is what downsizing the government means - when you need it, the staff's not there.

          You voted GOP, you voted for this incompetence, negligence, and understaffing.

          But you're probably too young to remember the nineties, when even the WSJ, I think it was, said that downsizing wasn't about "rightsizing", it was about Wall St. rewarding the CEO's stock options.

          • by Zak3056 ( 69287 )

            The decline of the IRS started a decade ago, when Obama was president, with his party completely in control the first two years, a split congress for the next four, and republican control for the last two. Blaming republicans seems disingenuous at best. You can see the slope here [irs.gov].

            A better thought would be "automation has made many employees redundant, and the current tax code is far simpler for most non-corporate filers, with the size of the standard deduction making itemization a rare thing" but that is

        • Most states haven't had the money available to update their unemployment services, and nobody predicted something like the current situation. Even if they did, they would have been shot down by Tea Party types who routinely sabotage government services just to "prove" that government is inept.

          The difference is that when government doesn't provide you something, it's because they were denied the resources to provide it. When CORPORATIONS deny you something, it's because they'd rather you die than risk the

        • by spun ( 1352 )

          Cherry picked bullshit. Like private sector workers are somehow infallible. My mom's insurance tried to screw her when she got pancreatic cancer. Luckily, she had a friend in the UK who let her stay there. The UK took care of her even though she wasn't a citizen, when our own capitalist vultures cut her loose.

          I work for the state I live in, and nobody I work with is lazy or incompetent. Stop spreading malicious lies about state workers.

      • The biggest problem I see with Single-Payer Health care is the fact that the Government is going to penny-pinch (often in a Penny Wise and Pound Foolish method)

        Health Care institutions will often run at cost with Medicare, and below cost with Medicaid, meaning your private insurance companies are being charged for the cut in costs for the Government Services.

        A single-payer system will need to make sure its fee schedules will allow Health Care systems to grow, expand, modernize and prosper. Now, this should

        • by spun ( 1352 )

          Are you insane? You think the government will penny pinch more than insurance? We already have death squads, bud. They are called insurance adjusters and they want your granny to die so they don't have to pay for her meds.

      • That would cut into the freedom of the people to choose whether they want to live or not. We can't have that, that could lead to socialism.

    • Re: (Score:3, Insightful)

      by TheReaperD ( 937405 )

      "it’s in the hands of God" - Hobby Lobby CEO David Green after laying off employees without offering a severance or insurance.

    • by kenh ( 9056 )

      You also have 90 days to sign up for cobra benefits.

      So a furloughed worker can "coast" for a couple months, only paying the actual cost (employee + employer portions) of their coverage if and when they actually need the coverage. Of course they have to pay for back coverage from when they lost their job.

      Also, remember, losing your healthcare coverage from your employer instantly makes you eligible for one of those "don't worry, the Democrats have your back" PPACA healthcare plans (AKA Obamacare), so no worr

      • Re: (Score:2, Flamebait)

        by gtall ( 79522 )

        PPACA healthcare plans ....you mean the ones provided for by the law that Trump and his goons are attempting to get the Supreme Court to declare unconstitutional? The plan that Trump decided didn't need to extend open enrollment so the people screwed could get unscrewed? Damn, what a baby Christian.

      • by spun ( 1352 )

        Oh, we're all eligible for the same ACA plans? Unless you live in a red state that has screwed it's citizens. I'm lucky, I live in a blue state but I pity the red staters who lose their jobs and can't pay COBRA.

    • just show up sick at the ER with an fake name / ID

  • I am one (Score:5, Informative)

    by renegade600 ( 204461 ) on Thursday April 02, 2020 @10:34AM (#59900578)

    I am one of them on furlough. was for 2 weeks but they extended it a lot longer. first time I have ever filed for unemployment. fortunately the company is letting us keep their health insurance. unfortunately, the past premiums will come out of out checks when we return. that 600 extra a week unemployment sure will come in handy to help with that.

    I don't think anyone could have predicted this - especially the unemployment rate. I knew it was happening in China but figured it would be like the last time when the swine flu was a problem. did not think so many to be out of work. I just wonder how many businesses will reopen after this.

    • Re:I am one (Score:5, Insightful)

      by thegarbz ( 1787294 ) on Thursday April 02, 2020 @11:51AM (#59900996)

      I don't think anyone could have predicted this

      The unemployment was unpredictable. That Americans would get screwed by it due to lack of social safety net and that the medical system is a financial burden on all but the privileged, that was a given.

      I hope a lot of republicans are affected. They may actually realise that the free market solution to everything is every bit as stupid as foreigners mock Americans for over abusing.

      • Re:I am one (Score:5, Interesting)

        by Zontar_Thing_From_Ve ( 949321 ) on Thursday April 02, 2020 @02:09PM (#59901576)

        I hope a lot of republicans are affected. They may actually realise that the free market solution to everything is every bit as stupid as foreigners mock Americans for over abusing.

        Based on what I see on Facebook, which admittedly is limited in scope, that is definitely not happening. My longtime best friend is a conservative Republican and he is very disillusioned with how Trump has handled things, but he seems to be the exception to the rule. Most of what I see on Facebook is how every bit of this is really the Democrats' fault because "Obama!" and Trump has zero responsibility. I'm also seeing a lot of skepticism on how bad this really is. And I keep hearing that Trump's approval rating has never been higher in his presidency. so I don't think anybody in the Cult of Trump has learned anything from this.

        • One thing is clear, Americans are stubbornly stuck in an us-vs-them debate that will never end. Trump's approval ratings are almost at an all time high (they were briefly higher when he just came into power), but then look through the past several years and what can you see:

          Trump starts major international crisis
          Trump solves major international crisis
          Trump does something highly popular and highly regarded by his own party, and not necessarily disagreed by democrats.
          Trump was impeached.
          Trump presided over an

    • by rsilvergun ( 571051 ) on Thursday April 02, 2020 @11:52AM (#59900998)
      Work was done on a general purpose vaccine after SARs, it was shelved due to profitability concerns [youtube.com] and the government wouldn't fund the research.

      The government has known since Bush Jr that a pandemic was coming and we were critically short of ventilators. A plan was put in place during the Obama administration to create a national stockpile. The government would buy them for $3k/each from a medical supply company.

      One of the larger medical supply companies, who sells them for $10k/each, didn't like that. They bought out the smaller company and shelved the project [threadreaderapp.com]

      Doctors were shouting to anybody who would listen back in December about this pandemic. They've been saying since the early 2000s that a pandemic like this was coming. There were no shortage of them clamoring for China to regulate the Wet Markets. And there were plenty saying that wouldn't be enough, that the increase in travel would mean even with the wet markets closed or regulated this still was going to happen.

      We stopped listening to experts. This is the result. Why did we stop? Because the people in power need you to see them as your only source for objective truth. This is a classic technique of dictators and cults. And while it's debatable [duckduckgo.com] if our current rulers fall into that category [bbc.com] I think it's pretty clear they at least use the tactic of discrediting experts in order to set themselves up as the single source of Truth.

      It doesn't help that our News Media is basically turned into an arm of the mega corporations [duckduckgo.com]
      • since /. doesn't allow edits. You should be angry. When you read my above post you should be very, very angry. Your life was gambled for profits, the gamble was lost, and the folks that did the gambling are likely to remain untouched. Safely distanced on private islands with their staff fully tested for the virus until this blows over.

        You should also realize that the top 1% will more than likely be untouched by this. A few of them might not, but most will come out unscathed. That's important, because on
    • Re:I am one (Score:4, Insightful)

      by bored ( 40072 ) on Thursday April 02, 2020 @12:28PM (#59901156)

      I don't think anyone could have predicted this - especially the unemployment rate

      WTF? You close restaurants/bars/etc and even if the small bus could afford to pay the wages, a huge part of waitstaff income is tips.. That won't ever be recovered, but then this is the US. Most states have 0 worker protection, its 100% predicable that workers are going to be laid off.

  • Uncharted territory (Score:4, Informative)

    by erp_consultant ( 2614861 ) on Thursday April 02, 2020 @10:37AM (#59900594)

    This is really unprecedented. We have people that find themselves unemployed through no fault of their own, or for that matter, the company they work for. Some businesses are simply being forced to shut their doors and have little choice other than to start laying people off.

    What I was hoping would be in the stimulus bill but isn't is to provide 6 months of paid COBRA for anyone that finds themselves without medical insurance as the result of a layoff. COBRA is really expensive and a last resort for most people. Pray you don't find yourself in that boat.

  • Of course (Score:5, Insightful)

    by kenh ( 9056 ) on Thursday April 02, 2020 @10:38AM (#59900600) Homepage Journal

    In a country of 320 million people we have over 175 million income tax filers, AKA workers.

    In a country of 175 million workers, when all but essential businesses are shut down by government action, tens of millions, approaching a hundred million workers will be put out of work.

    Once the government loans for small to mid-sized businesses (up to 500 employees) [0] to keep workers on the payroll for shuttered companies in in place, these wild multi-million unemployment application numbers will go down, until then the numbers will be unlike anything we've seen before.

    Once the government starts covering the payroll of tens of million employers, these crazy unemployment numbers will go away.

    [0] The government loans are to be available starting 4/3/2020 and are to allow small businesses to continue to keep workers on company payroll while company is shut down. Once the shelter-in-home/shutdown orders are lifted, if the business used the loan money to cover payroll during the shutdown and no one was unemployed, the loan will be forgiven.

    • by DewDude ( 537374 )
      My understanding is that while the loans are being issued with the lay-terms that they will be forgiven as properly used; technically they are loans and they are expected to be paid back. But what they've done is removed the penalties for not paying along with the personal guarantee. So the business owner, who would usually be on the hook for a business loan, won't be on the hook. The business itself would be on the hook and they're largely saying "we're just not enforcing payments". Or something to that ef
    • Lots of people file income taxes who are not workers.
    • also, those are loans. You loan me money to pay somebody else, but I'm taking a risk (since it's a loan).

      What I'm going to want to do is take the money, lay off the workers and pocket the loan money. I might even fold the corporation when I'm done so I don't have to pay back the loan. Meanwhile there are billionaires who own "small" businesses applying for these loans...

      I'm not saying we don't need to do this, we do. Even if the rich screw us over during the bail out they have too much power for us
    • by bored ( 40072 )

      No, its going to get worse. Those unemployed workers are going to stop buying stuff, which is going to cause even "critical businesses" to loose revenue. An at least in the US, the first plan is to dump the employees because they are the least protected. The landlord at the now empty retail/office/etc space will still get their rent. Which will in turn cause even more lost revenue....

      The only winners here are the grocery/etc markets where mandatory purchasing has shifted.

  • This Ain't Ending (Score:2, Insightful)

    by DewDude ( 537374 )
    We're pretty much already done. We're just going to be another broken economy with a currency that's absolutely worthless. Life is not going to return to normal. For starters, this isn't going to be over this year; barring some sort of miracle. This doesn't even look like it will be over in 18 months. We're quite literally looking at 2020 and 2021 at being just entirely lost. The problem with social distancing is while you prevent a bunch of people from getting it; you're just preventing a bunch of people
    • Re: (Score:3, Informative)

      by fatwilbur ( 1098563 )
      This is a troll. South Korea is already recovering and didn't shut anything down. The Imperial College just last week testified to UK parliament they will see the peak of cases in mid-April (two weeks away) vs. their previous estimate of November-December (source [reason.com]). This is because we now have a good enough dataset of countries who have responded heavily and who did not respond well or at all. In all of them, we've seen the peak of the curve. If you have any data or citations to support your conclusions
      • South Korea is one of the nations managing the crisis the best.

        The USA is among the worst. Some cities and states are doing their best, some aren't even trying, and the Federal government is doing a shit job.

        The idea that you can use South Korea to predict how things will go in the US is a spectacularly dumb one.

    • you can catch the virus again after getting it. It takes about 12-18 months.

      The way this will play out if all goes well is this:

      1. Social distancing flattens the curve, giving hospitals time to minimize dying.

      2. We get a small boost to herd immunity from that 12-18 months, flattening the curve a bit more.

      3. After 12-18 months we get a vaccine.

      After that what comes next is up to us. What we need to do is a bottom up approach to rebuilding the economy, Marshal Plan style. This is basical
  • Is anyone able to post a single good reference source or piece of data showing why we should be worrying so much about this? Serious question, I've been pouring over the data for weeks and cannot find one. What I do see is research showing 294K-518K people die worldwide of influenza each year [nih.gov], and a trend in coronavirus deaths [worldometers.info] that implies we'll be lucky if we even reach "bad flu season" numbers. One data source... anyone?

    For specific numbers, WHO shows the global death count after two months worth of
    • The WHO flu death numbers are essentially arse pulls. They are not lab confirmed, but guesstimates. Actual lab confirmed numbers for flu are far lower and are in the low three digits for any single first world country. The coronavirus numbers are, on the other hand, very real and since the hospitals are overfilled by a far lower number of critically ill people compared to the WHO number of flu deaths it shows just how wrong these estimates are.

    • Perhaps because the number of deaths is doubling approximately every week [worldometers.info]? If that exponential growth were to continue indefinitely, the entire human population would die within about the next four months. Do you just not understand exponential growth? I'm guessing you don't, because you misunderstood what your "trend in coronavirus deaths" graph was saying.

      (And of course the exponential growth won't actually continue indefinitely. Without countermeasures that can be summarized as "extensive worrying and pr

    • I'm not sure if you are genuinely unaware of the studies that have been published or are just argument from ignorancing. I'm quite sure that your biology background is pretty sparse.

      You won't find COVID-19 studies of the same calibre as influenza studies because there simply hasn't been time to complete them. However, there are plenty of good studies available and more coming out all the time. I suggest starting with the New England Journal of Medicine's coronavirus topic [nejm.org].

      The bottom line is that you are

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