Welcome to the Jill on Money Corona virus Market Update. We are recording this

Thursday at 444 Eastern Time. Time stocks are up about about 2% across the board on the day and so I bet you

think you're going to hear good news. Uh-uh. No, no. 6.648 million people filed for new unemployment

claims in the week ending March 28th.

Tacked that on to the prior week of 3.3 million and you have nearly 10 million people

filing for unemployment claims.

I mean, the speed with which this economy is stopped short is nothing less than stunning.

I looked it up.

So six weeks prior, February 15th, the week ending February 15th of this year,

weekly claims came in a 2008,000. That matched an all-time low from the prior year from April of

2019, but we are at the all-time low on February 15th, and we now have a new all-time high for the week ending March 28th. It's stunning.

Don't ask me why the stock market's up.

Mark and I are just trying to figure it out. It makes no sense to me.

I've been talking to economists, I have a lot of stuff in the can that's going to start

running on the various CBS programs, and it's not encouraging gang, it really isn't.

Kind of a little back of the envelope rule of thumb is that when you see weekly jobless claims go up by a million and a half it usually results in a one percentage point increase in the

unemployment rate.

So let me do the math quickly for you.

That essentially means that currently this minute, the U.S. economy is probably running

at a 10% unemployment rate give or take that is startling

it's just unbelievable all right well here is an email from Jill and her question is about asset allocation and some

financial planning. So here she says, first of all your daily podcast have been a lifeline for me and I'm sure for many

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