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
As corona virus spreads in the u. S. Its economy is likely to face its worst crisis since the Great Depression and the spillover is expected to inflict long term damage there and around the world so what can be done to reverse the crash and can the Global Economy fully recover this is inside story. Hello and welcome to the program im homage im joined its the Worlds Largest economy and has enjoyed record growth but its collapsing the u. S. Economy could be facing its worst recession in decades triggered by coded 1000 measures it shrank by almost 5 percent in the 1st quarter of this year thats the biggest slide since the 2008 financial crisis millions of americans have lost their jobs Consumer Spending has seen its biggest decline in 40 years and many businesses are going bankrupt the u. S. Has pumped more than 2 trillion dollars into the economy in the past 6 weeks but many economists say this is not enough and the worst is yet to come President Donald Trump says things will bounce back
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Cant show you my face but im going to tell you must story in 9093 this man was sentenced to death. They get charged with capital murder even though he didnt have the gun didnt pull the trigger didnt intend to kill anybody imagine living in your bathroom for the week with his son of a 23. 00. Confined within 4 gray walls fun its using hard to turn on to help him to leave death row. Max kaiser this is the kaiser report you know it was the best of times it was the worst of times stacey this sounds like the opening lines to a tale of 2 cities by Charles Dickens and he was somebody quite useful and relevant to this age because he was writing during the beginning of the end of the British Empire and also during the explosion of the wrong take class a lot of what he wrote about is the disaster capitalism caused by the ron to class so were in a very similar time to that with this pandemic meeting the over leveraged fake system that we have and the chaos that is causing and just for those of yo
Terrible composite pmis from the region. Oil continuing that recordbreaking rally yesterday. Some delegates a little bit more optimistic about getting deals done. Now i want to update you on our top stories from our new york team. We want to begin with europe. Thentioned the economies in slump of unprecedented scale, pointing to a contraction of about 10 . Bloombergs Michael Mckee joins us with more. Good morning, mike. Michael we are getting to the point where Economic Data are almost irrelevant to investors. Yeah, it is terrible. We know that. Weve traded it. Thats why you are not seeing a huge reaction in equity markets in europe because it was largely expected. It is sort of exactly what you think wouldve happened. Services pmis and composite pmis just falling off a cliff. The story in spain and italy there, but also france and germany. Those economies have basically shut down. Economists try to put a number on what that means, and that is where you get that 10 contraction figure,