Millennials are Caught in the Two Recession Trap: Millennials Continue to be Punished by the Great Recession and now the Great Pandemic.
Covid-19 continues to unleash economic havoc across the world. The financial destruction being caused by the pandemic is shattering already fragile household budgets. In the deep levels of this fog, Millennials continue to face extra layers of pressure from this crisis. This has come in the form of massive levels of student debt, a higher […]
The Long Winter: Number of people filing for unemployment insurance hits 36.4 million and unemployment rate at highest level since the Great Depression
The economic situation continues to deteriorate as 36.4 million Americans have now filed for unemployment insurance in the last 8 weeks. This is a daunting number that is down right shocking given that only two months ago, we were near “full employment†and the stock market was near all-time highs. The number of people filing […]
30.3 million Americans have filed for unemployment insurance in the last six weeks. There is also a backlog so numbers would be higher
The unemployment figures that we are seeing are startling. We have now seen 30.3 million people file for unemployment insurance in the last six weeks. These numbers are historic even when comparing to the Great Depression. The notion that we will have a sharp V-shape recovery is simply not going to be the case. While […]
The COVID19 Depression: 22 million file for unemployment insurance as unemployment rate is now fully in double-digits.
For many years we have talked about how many Americans were living paycheck to paycheck. One troubling statistic that came to mind, even before the COVID19 outbreak, was that half of Americans were one paycheck away from financial disaster. What the COVID19 outbreak has shown is how frail the economic situation was for many Americans […]