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Joseph Brusuelas Jun 25
In the camp classic war film “Tora, Tora, Tora” a U.S. Navy Capitan John Earle refused to act in defense of Pearl Harbor until he received confirmation of an attack even as American naval assets exploded all around him.
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Joseph Brusuelas Jun 25
Replying to @joebrusuelas
As such, some important policy makes appear to be waiting on confirmation that the U.S. economy needs further emergency aid even as jobless claims arrived above 1 million for the fourteenth straight week.
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Joseph Brusuelas Jun 25
Replying to @joebrusuelas
Over that period 47.3 million have experienced joblessness or roughly 30% of the pre-pandemic American workforce. For the week ending June 20 1.48 million individuals filed for first time jobless claims, while 19.52 million filed continuing claims.
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Joseph Brusuelas Jun 25
Replying to @joebrusuelas
Roughly 728,000 field for pandemic unemployment assistance bringing the weekly total filing for aid to 2.2 million. That implies an insured unemployment rate of 13.4%.
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Joseph Brusuelas
That implies we have observed ten straight weeks of over 2 million individuals have filed for aid since the PAU data become available during the week of April 17, 2020.
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Joseph Brusuelas Jun 25
Replying to @joebrusuelas
If one was looking for confirmation, on whether further aid for the unemployed and the economy is necessary, its sitting out in plain sight.
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Joseph Brusuelas Jun 25
Replying to @joebrusuelas
Aid for those negatively affected by the pandemic expires on July 31 which due to those waiting on confirmation is setting up as the most significant fiscal cliff in American economic history.
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