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Janet Yellen: Unemployment is Likely Around 13% Right Now
Breitbart ^
| 6 Apr 2020
| JOHN CARNEY
Posted on 04/06/2020 11:13:12 AM PDT by 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.
(Excerpt) Read more at breitbart.com ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS: coronavirus; economy; federalreserve; janetyellen; jobs; unemployment
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1
posted on
04/06/2020 11:13:12 AM PDT
by
Hojczyk
To: Hojczyk
Gonna be hard to quantify due to the huge number of people being paid for not working.
2
posted on
04/06/2020 11:14:31 AM PDT
by
Buckeye McFrog
(Patrick Henry would have been an anti-vaxxer)
To: Hojczyk
Dr. Anthony Fauci will delay it til there are no more cases..he runs the county now..
3
posted on
04/06/2020 11:14:39 AM PDT
by
Hojczyk
To: Hojczyk
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.
4
posted on
04/06/2020 11:16:16 AM PDT
by
nwrep
To: Hojczyk
Still less than when the “Magic Negro” was in charge.
5
posted on
04/06/2020 11:16:29 AM PDT
by
VTenigma
(The Democrat party is the party of the mathematically challenged)
To: Hojczyk
But by all means, stay hidden under your bed at home. It’s all going to be fine.
6
posted on
04/06/2020 11:16:32 AM PDT
by
brownsfan
(Behold, the power of government cheese.)
To: nwrep
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.
7
posted on
04/06/2020 11:18:56 AM PDT
by
DarthVader
(Not by speeches & majority decisions will the great issues of the day be decided but by Blood & Iron)
To: DarthVader
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.
8
posted on
04/06/2020 11:22:45 AM PDT
by
Buckeye McFrog
(Patrick Henry would have been an anti-vaxxer)
To: Hojczyk
So how many government “workers” are now unemployed (and not being paid)?
Inquiring minds want to know.
ML/NJ
9
posted on
04/06/2020 11:24:45 AM PDT
by
ml/nj
To: Hojczyk
My prediction is that the tone at the White House will change dramatically around Easter Sunday ... and the administrations attitude is going to be: We wont tell any governors what to do, but its time for 90% of this country to grow up and get back to work.
10
posted on
04/06/2020 11:26:20 AM PDT
by
Alberta's Child
("And somewhere in the darkness ... the gambler, he broke even.")
To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
Former Federal Reserve Chair Janet Yellen...
Seize Yellen's assets and redistribute them!
11
posted on
04/06/2020 11:31:15 AM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: Buckeye McFrog
No he has too. We have traitors here at home who we must destroy who can no longer be allowed to sabotage the country!
12
posted on
04/06/2020 11:36:32 AM PDT
by
DarthVader
(Not by speeches & majority decisions will the great issues of the day be decided but by Blood & Iron)
To: Buckeye McFrog
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?
To: VTenigma
Still less than when the Magic Negro was in charge. I think 10% was the highest under Obama.
To: SunkenCiv
Seize Yellen's assets and redistribute them! For telling the truth as she sees it?
To: Buckeye McFrog
If it was up to Democrat governors like Tom Wolf and his gender confused doctor, it would be damn near 100%.
16
posted on
04/06/2020 11:42:08 AM PDT
by
Vigilanteman
(The politicized state destroys aspects of civil society, human kindness and private charity.)
To: DoodleDawg
According to the numbers they massaged , real nubbers were around 18%.
17
posted on
04/06/2020 11:44:23 AM PDT
by
VTenigma
(The Democrat party is the party of the mathematically challenged)
To: DoodleDawg
18
posted on
04/06/2020 11:44:56 AM PDT
by
VTenigma
(The Democrat party is the party of the mathematically challenged)
To: VTenigma
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?
To: DoodleDawg
Telling the truth as she sees it is what Hillary does. Yellen's a derper. Choose your battles.
20
posted on
04/06/2020 11:52:21 AM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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