April jobs report: U.S. employers cut a record 20.5 million payrolls, unemployment rate jumps to 14.7%
https://finance.yahoo.com/news/jobs-...165316546.html
got the breakdown of sector job losses imagine NZ will be similar
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April jobs report: U.S. employers cut a record 20.5 million payrolls, unemployment rate jumps to 14.7%
https://finance.yahoo.com/news/jobs-...165316546.html
got the breakdown of sector job losses imagine NZ will be similar
I found this gem in the article,
“As was the case in March, special instructions sent to household survey interviewers called for all employed persons absent from work due to coronavirus-related business closures to be classified as unemployed on temporary layoff. However, it is apparent that not all such workers were classified.”
So obviously in NZ using this methodology we would have had unemployment of 400,000? or more.
Whatever the number, the markets in the US seem to like it a lot. Dow up 380 as I type with half an hour to go till close.
but its in time thing of how many of the 20m actually get to go back as they open up and things do not go back to normal so im picking the real figure will be close to this once time goes on. as which will probably happen in NZ when the wage subsidy finishes and they lay off heaps people cause things are not back to normal
https://businessdesk.co.nz/article/retail-phenomenon-helps-nzx-trading-volumes-soar
Equity trading on the NZX has skyrocketed as first-time investors have taken to app-based investing during the pandemic chaos. In April the number of equity trades was up more than 360 percent at 1.3 million, with an increase in low-value trades cutting the average on-market trade size in half – to $2,463.
Roberts said 50,000 new customers have joined Sharesies in the last two months, with almost three-quarters new to trading. Despite the platform not existing a year ago, the platform has almost 150,000 customers and makes up roughly 23 percent of all cash trades on the exchange.
https://www.nzherald.co.nz/world/new...ectid=12330670
Devastating United States jobs report for April will show Covid-19 impact.
The US unemployment rate for April could reach 16% or more. Twenty-one million jobs may have been lost.
If so, it would mean that nearly all the job growth in the 11 years since the Great Recession ended had vanished in one month. The scale of the job loss has been breathtakingly sudden.
During the Great Recession of 2008-2009, the nation lost 6.5% of its jobs over a two-year span. Yet in just April alone, the expected job loss of 21 million would amount to 14% of all jobs — more than twice as much.