Over 30.3 million Americans have lost their livelihoods over the past six weeks Over 30.3 million Americans have lost their livelihoods over the past six weeks, according to new data released by the Labor Department this Thursday. New unemployment filings reached 3.84 million last week due to the coronavirus crisis impacting nearly every business sector. The crisis in unemployment is now more apparent than ever; in contrast, 8.7 million jobs were lost during the Great Recession. Yesterday, Federal Reserve Chairman Jerome Powell said he expects the unemployment rate for April to spike to around 10% compared to the pre-pandemic historically low level of 3.5%. Rising unemployment and uncertainty has led to a drastic decrease in consumer spending, as we reported yesterday, which composes two-thirds of US GDP. Chairman Powell stated that he sees consumer spending continually declining and called the current situation the worst crisis he has seen in his lifetime. A few weeks ago, former Fed Chairman Janet Yellen said that a sharp V-shaped recovery was possible, but feared the rebound could come in a slower U-shaped formation if not worse. Current Chairman Powell stated this week that even a W-shaped recovery could be overly optimistic. “We’re going to see economic data for the second quarter that’s worse than any data we’ve ever seen,” Powell warned. The Federal Reserve is continuing to purchase mortgage-backed securities. The central bank purchased an additional $38.461 billion this week, according to Reuters, after purchasing $59.909 billion worth of securities the week prior. sad that Gates,Fauci,Schiff,Pelosi,Schummer,Christopher A. Wray,James Comey.etc,etc,etc...........are such fucking evil people