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An unemployment rate of around 13% (as of two weeks ago[1], so probably even higher now) doesn't seem like it's going to just magically resolve itself, and it's
by chadlavi 7y ago
An unemployment rate of around 13% (as of two weeks ago[1], so probably even higher now) doesn't seem like it's going to just magically resolve itself, and it's going to have drastic effects.
1. https://www.nytimes.com/2020/04/03/upshot/coronavirus-jobless-rate-great-depression.html https://www.nytimes.com/2020/04/03/upshot/coronavirus-jobles...
- throwawaylolx 7y agoThat's just an estimate. From your link: >Be warned, these numbers yield an imprecise estimate of today’s unemployment rate, and the truth could easily be quite a lot higher or lower. This is not an estimate of the official unemployment rate for March, which reports the state of the economy a few weeks ago when the labor market was in better shape, nor is it a forecast for the official rate in April. I don't find it useful to implicitly embed a financial forecasting model in the use of the term "depression".