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ECONOMIC NIGHTMARE: NEARLY 50 PERCENT OF ALL THE JOBS LOST DURING THE COVID-19 PANDEMIC “MAY BE GONE PERMANENTLY”
When millions of Americans were losing their jobs at the beginning of this pandemic, we were told not to worry because the lockdowns were just temporary and virtually all of those workers would be going back to their old jobs once the lockdowns ended.
Well, now we are finding out that was not even close to true. Over the last 18 weeks, more than 52 million Americans have filed new claims for unemployment benefits, and a very large percentage of them are dealing with a permanent job loss.
In fact, one brand new survey discovered that 47 percent of all unemployed workers now believe that their “job loss is likely to be permanent”. More
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Financial ECONOMIC DEVASTATION ON A SCALE THAT AMERICA HAS NEVER Experienced BEFORE. For a very long time we have been warned that a U.S. economic collapse was inevitably coming, and now it is here. Fear of COVID-19 and unprecedented civil unrest in our major cities have combined to plunge us into a historic economic downturn, and nobody is exactly sure what is going to happen next. On Thursday, we learned that U.S. GDP was down 32.9 percent on an annualized basis last quarter. That officially makes last quarter the worst quarter in all of U.S. history, and many people believe that this new economic depression is just getting started. More (theeconomiccollapseblog.com/ economic collapse blog by Michael Snyder.