Janet Yellen: Unemployment is Likely Around 13% Right Now

Breitbart ^ | 6 Apr 2020 | JOHN CARNEY

[Hojczyk]

“This is a huge, unprecedented, devastating hit,” Yellen said. “My hope is that we will get back to business as quickly as possible.”

Former Federal Reserve Chair Janet Yellen estimated Monday that the unemployment rate would probably be as high as 12 to 13 percent if we had a real-time gauge for joblessness.

Yellen also said that the economy will probably contract around 30 percent because of the coronavirus and related measures that have shut down large segments of the economy in pursuit of social distancing the control the spread of the disease.

Yellen described the recent reports of initial claims for unemployment benefits, amounting to around 10 million in the past two weeks, as “absolutely shocking.” Claims for unemployment benefits are one of the few ‘real time’ pieces of data the government produces on the economy, showing new claims for the prior weeks. Most other data require weeks or months to be put together.

[Buckeye McFrog]

Gonna be hard to quantify due to the huge number of people being paid for not working.

[Hojczyk]

Dr. Anthony Fauci will delay it til there are no more cases..he runs the county now..

[nwrep]

Not surprising. If it stays into double digits by October, or even high single digits (7-8%), Biden can invoke Reagan's threshold question in the debate against Trump: "Are you better off now than you were 4 years ago?"

It will be tough to overcome that, even though CV is not Trump's fault.

[VTenigma]

Still less than when the “Magic Negro” was in charge.

[brownsfan]

But by all means, stay hidden under your bed at home. It’s all going to be fine.

[DarthVader]

He isn’t going to have that luxury. The administration will declassify what really happened long before we get there. Starting to leak info now.

[Buckeye McFrog]

The administration will declassify what really happened

Maybe not. Trump has Xi by the shorthairs now. He may just play Art of the Deal and see what he can extract from him in exchange for keeping embarrassing secrets.

[ml/nj]

So how many government “workers” are now unemployed (and not being paid)?

Inquiring minds want to know.

ML/NJ

[Alberta's Child]

My prediction is that the tone at the White House will change dramatically around Easter Sunday ... and the administration’s attitude is going to be: “We won’t tell any governors what to do, but it’s time for 90% of this country to grow up and get back to work.”

[SunkenCiv]

Former Federal Reserve Chair Janet Yellen...

Seize Yellen's assets and redistribute them!

[DarthVader]

No he has too. We have traitors here at home who we must destroy who can no longer be allowed to sabotage the country!

[DoodleDawg]

Gonna be hard to quantify due to the huge number of people being paid for not working.

If they're still drawing a salary from their employer then they're not unemployed, are they?

[DoodleDawg]

Still less than when the “Magic Negro” was in charge.

I think 10% was the highest under Obama.

[DoodleDawg]

Seize Yellen's assets and redistribute them!

For telling the truth as she sees it?

[Vigilanteman]

If it was up to Democrat governors like Tom Wolf and his gender confused doctor, it would be damn near 100%.

[VTenigma]

According to the numbers they massaged , real nubbers were around 18%.

[VTenigma]

Nubbers? numbers

[DoodleDawg]

According to the numbers they massaged , real nubbers were around 18%.

So do you think the real numbers for this time will be around 21 or 22 percent?

[SunkenCiv]

Telling the truth as she sees it is what Hillary does. Yellen's a derper. Choose your battles.