America’s Slide Into Economic Oblivion Is Already Starting To Accelerate Here In 2021
Michael Snyder,
Scoop Publisher Francesco Abbruzzino
Isn’t it fun to live in a rotting, decaying society that is coming apart at the seams all around us? The latest economic numbers are extremely depressing, but now that free speech is being abolished and the elite are consolidating control over every aspect of our society, we are being assured that better days are right around the corner. We have just got to be willing to accept the “new normal” which includes living in “tiny homes”, snacking on worms, and never expressing any independent thoughts which diverge from official mainstream narratives. So with that in mind, I will try to share the horrible economic news that we have been getting in the most positive light possible.
This week, we learned that another 965,000 Americans filed new claims for unemployment benefits during the previous week…
The number of people seeking unemployment aid soared last week to 965,000, the most since late August and evidence that the resurgent virus has caused a spike in layoffs.
The latest figures for jobless claims, issued Thursday by the Labor Department, remain at levels never seen until the virus struck. Before the pandemic, weekly applications typically numbered around 225,000. Last spring, after nationwide shutdowns took effect, applications for jobless benefits spiked to nearly 7 million – 10 times the previous record high. After declining over the summer, weekly claims have been stuck above 700,000 since September.
But we are being told that this is only because of the failed policies of the outgoing administration and that things will definitely be much better under the next socialist administration.
2020 was particularly a tough year for low paid workers. At this point, even officials at the Federal Reserve are admitting that the unemployment rate for low paid workers “is above 20%”…