The new applications brought the total number of jobless claims since mid-March to 26.4 million. That amounts to more than 15% of the US workforce. However, the most recent data marked the third week that the number of new claims has declined, raising hopes that the worst of the shock may be over. “While this week's 4.4 million jobless claims are staggering, there are signs that the pace of layoffs has reached its peak," said Richard Flynn, UK managing director at financial service firm Charles Schwab. "The key questions at this point are when can the economy reopen and what happens when it does?" https://www.bbc.com/news/amp/business-52398837
Everything is all time high..market is just amazing
Next, these job losses will “trickle” down to consumer spending .. white collar job losses will start .. retail leasing goes 🔥 ...personal income will come down .....followed by house prices going 🔥...these are the next phases .. Hang tight .. this is not going to be quick ..
I think we have passed the peak for jobless claims. Now it will go other way. As businesses start opening up, people will file less jobless claims and economy will start getting back on track.
Peak for hourly/contract jobs (which are first to go).. this will snowball into salary jobs next..
All to save .03% of the population who would probably die in the next year or two anyway.
Awww. Are you feeling like an animal that's been locked up at home?
No, a concerned person about tens of millions of people made destitute.
SPY to all time high next week!
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Of course, this all was priced in.