The e. U. Economy had expanded by point one percent in the 4th quarter of 2019 and of course contraction is expected as the crow virus pandemic continues to wreak economic havoc but it should be noted that lock downs in the e. U. Did not actually start until early march of 2 months before those lockdowns took place weighing heavily on the economy now looking at some of the largest economies in the block frances g. D. P. Felt by 5. 8 percent over the quarter as did spains economy declined by 5. 2 percent now german officials had also announced this week that they expect their g. D. P. To decline by 6. 3 percent for the year overall meanwhile the European Central bank announced thursday it would keep Interest Rates where they are at 0 but added they will continue stimulus measures until the economy stabilizes. And here in the United States new filing for unemployment reached 3840000 for the week ending the 24th of april now this brings the total number of claims over the last 6. 30000000
In the block frances g. D. P. Fell by 5. 8 percent over the quarter as did spains economy declined by 5. 2 percent now german officials had also announced this week that they expect their g. D. P. To decline by 6. 3 percent for the year overall meanwhile the European Central bank announced thursday it would keep Interest Rates where they are at 0 but added they will continue stimulus measures until the economy stabilizes. And here in the United States new filings for unemployment reached 3400000 for the week ending the 24th of april now this brings the total number of claims over the last 6. 1000000 despite the dismal Economic Data an incredible number of unemployed americans markets are on pace for the best month and decades today of course excluded so lets get some expert analysis on the situation with tobin smith c. E. O. Of transforming research and boom bust cohost christi i thank you both for joining us today now christy weekly weekly jobless numbers are in now as i just mentione
Us today now christy weekly weekly jobless numbers are in now as i just mentioned 3840000 filing for unemployment which is worse than expectations again how bad can this actually get. It came back quite bad because if you remember we have been coming in worse than expectations now for about 6 weeks in a row so now you have roughly 30300000 people who have filed for unemployment in the last 6 weeks which its pretty much one in every 6 americans so with more employers cutting payroll in order to boost their earnings economists have now up their forecast that the Unemployment Rate for april could go as high as 20 percent now unemployment has always been a bit of a lagging indicator given the time it takes to process and gather all these numbers some analysts suggest that the real numbers are likely to be higher and estimated that up to 12000000 more people have lost their jobs to claim yet given the backlog in the system the biggest drops to date came from california florida connecticut a
Spain has just had its worst day yet. Plus how south korea is managing to contain the spread of the epidemic without measuring and in other news a u. S. Offers to lift sanctions on venezuela in exchange for a Transitional Government that would not include president Nicolas Maduro or his main rival. The u. S. President is warning americans to prepare for the hard days that lie ahead as the coronavirus told rolls thats a change of tone for donald trump just a week after he said the country could be back in business by mid april White House Health experts say up 2240000 people could die from the virus and if people dont follow social distancing measures stem modeling points to a toll all for a 1000000 on tuesday there were 865 deaths in just 24 hours the countrys highest single day death toll and emergency Field Hospital is being built in central park in new york to help the search in case. I want every american to be prepared for the 4 days that were going to go through a very tough 2 we
Spain has just had its worst day yet just how south korea is managing to contain the spread of the epidemic without. And in other news the u. S. Office to lift sanctions on venezuela in exchange for a Transitional Government that would not include president maduro always made by. The u. S. President is warning americans to prepare for the hard days that lie ahead as the number of deaths from corona virus passes 4000 the country saw its highest single death toll with more than 800 deaths on tuesday White House Health experts say the virus could kill up to 240000 people mike hanna has our report from washington. The 1st time the tosk forced presented its predictions of where this pandemic may be heading saying this could now be done because of a more detailed flow of information from across the country. The Scientists Say the virus could kill between 100240000 americans but without if its like social distancing Counter Measures like shutdowns the toll could go far higher but it modeled t