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🗓️ 5 June 2020
⏱️ 11 minutes
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0:00.0 | Welcome to the Jill on Money Coronavirus Market Update. It is Friday, June 5th in your |
0:10.9 | feed. We are recording this actually on Thursday morning and we've just |
0:14.8 | gotten the weekly jobless claims information. Here's what we know. 1.877 |
0:21.8 | million Americans filed for new unemployment insurance. |
0:27.0 | That was last week. |
0:28.4 | And we also know that 10.7 million gig workers or self-employed folks. |
0:34.4 | They are applying through the pandemic unemployment assistance |
0:38.8 | program. |
0:39.4 | So just think of it this way. |
0:41.2 | There's about 53 million Americans who filed some sort of claim |
0:47.5 | for unemployment insurance. Staggering over the last 11 weeks. Okay, so what else do we know? |
0:53.9 | Well, let's look at the positive aspect of this for a second. |
0:57.6 | Yes, the numbers over the last 11 weeks are horrifying. |
1:00.7 | However, we have just seen the ninth straight weekly decline since claims peaked at the end of March. |
1:08.0 | That's the good news. |
1:09.0 | Here's the bad news. |
1:10.0 | 21.5 million Americans actually are receiving unemployment benefits and that's up |
1:17.5 | slightly from the prior week. So we need to start seeing those continuing |
1:22.2 | claims drop before we say that we've hit the bottom. That's what we really need |
1:27.0 | Of course we'll have the recap of the monthly jobs numbers that will be out at 8.30 Eastern Time today. |
1:35.1 | We'll report on that when we release our podcast for Saturday. |
1:40.3 | Okay, with that out of the way, let's get to your questions. |
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