Weekly Jobless Claims Hit 5.245 Million, Raising Monthly Loss To 22 Million Due To Coronavirus
April 16, 2020
Protection measures against the coronavirus continued to tear through the employment ranks, with 5.245 million more Americans filing first-time claims for unemployment insurance last week, the Labor Department reported Thursday.
That brings the crisis total to just over 22 million, nearly wiping out all the job gains since the Great Recession.
The total was a bit worse than the 5 million expected from economists surveyed by Dow Jones.
Though the most recent count, for the week ended April 11, represented a drop from the previous two weeks, it showed that the damage to the U.S. labor market remains profound.
Bill Holter’s Commentary
Just when people want gold and silver the most…this happens?
US Mint Halts All Production Over Virus Fears As Gold & Silver Coin Demand Nears Record Highs
April 15, 2020
Just as the premium between physical and paper precious metals prices was starting to fade a little, the US Mint has decided to temporally halt all production at its West Point facility in New York because of the risk to employees from COVID-19.
The timing of the decision to halt supply could not come at a worse time with demand for both gold and silver coins soaring near record highs…