by Michael Snyder
The Economic Collapse Blog
Now we are up to 33.5 million jobs lost. In just 7 weeks, the U.S. economy has been completely turned upside down, and the numbers are unlike anything that we have ever seen before. On Thursday, the Labor Department announced that 3.17 million Americans filed initial claims for unemployment benefits last week. That brings the grand total for this crisis up to 33.5 million, and that figure absolutely dwarfs what we witnessed during the last recession. And as I discussed yesterday, even the mainstream media is now admitting that millions of those jobs are never coming back.
Yes, some Americans will be going back to work now that the lockdowns are being ended, but for now it is being projected that the job losses will continue to surpass any gains that are made by workers that are returning to their old jobs.