Thursday, April 16, 2020

The Twin Towers of Pain: Part Two

Since Easter, almost 12,000 more victims of COVID-19 have been recorded for a total of 33,903 in the U.S. (first bar chart). It represents a 54 percent increase in five days. The U.S. is now a quarter (24%) of the world total of 140,000. The Buzz (see The Twin Towers of Pain, 4-14-20) earlier this week highlighted the “speed and intensity of the onslaught.”

Unemployment, the other Twin Tower, also had a massive increase since last week – up 31 percent with 5.2 million new claims. The total now is 21.8 million (second bar chart). Unemployment now exceeds the 15 million reached in the Great Recession of August 2009. In fact, as the Washington Post headlined, the 22 million approaches Great Depression levels (25 million) of the 1930s.

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