COVID-19 costs American workers at least 10 million jobs

April 3, 2020, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement responding to latest jobs numbers:

“Today’s Bureau of Labor Statistics unemployment rate dramatically understates the actual state of the workforce.  These reports are based upon mid-month surveys conducted on behalf of BLS, which do not reflect the full results of the last two new unemployment claims filed with state governments.  The 1.35 million person increase in the number of unemployed is at least 8.5 million short of the actual number of people thrown out of work by the government’s response to the COVID-19 as demonstrated by the weekly unemployment claims reports released yesterday.  This means that the actual COVID caused unemployment rate is likely between 9 and 10 percent and rising every day.

“A month ago, our nation enjoyed the fewest number of unemployed since the year 2000, in one short month due to the shutdown of the economy, we very likely have the most people unemployed than at any time in history.

“Earlier this month, the President rightly worried that the cure for COVID-19 could become worse than the disease.  The dramatic surge in unemployment is just the beginning of the cost of a cure that will only get worse as President Trump rightfully seeks to balance the public health concerns with the destructive impact of the hopelessness cause by joblessness.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

###

 

Print Friendly, PDF & Email