When Thursday’s initial claims report is published at 830am on Thursday, the Dept of Labor will confirm that the current depression is unlike any seen before, with approximately 30 million Americans losing their jobs in the past 6 weeks alone. That, however, may be underestimating the full number of Americans who have lost their jobs by as much as 50%.
According to an online poll by the left-wing Economic Policy Institute, millions of Americans who have been thrown out of work during the coronavirus pandemic have been unable to register for unemployment benefits. The poll found that for every 10 people who have successfully filed unemployment claims, three or four people have been unable to register and another two people have not tried to apply at a time of acute economic crisis.
Official statistics show that 26.5 million people have applied for unemployment benefits since mid-March, wiping out all of the jobs gained during the longest employment boom in U.S. history, and another 3.5 million initial claims are expected to be filed this week.
However, EPI’s survey indicates that an additional 8.9 million to 13.9 million people have been shut out of the system, said Ben Zipperer, the study’s lead author, which means that as of this week, just shy of 50 million American have lost their job since the start of March. “This study validates the anecdotes and news reports we’re seeing about people having trouble filing for benefits they need and deserve,” Zipperer said.
Among the reasons why idled workers have been unable to get in the “pipeline”, they claim they have encountered downed websites and clogged phone lines, as the state governments that administer the program have been overwhelmed by applicants.
“It’s a shame how you work for so many years and then when you need it, you can’t get it,” said Jim Hewes, 48, who said he was unable to file a claim online for more than two weeks after he was furloughed from his job at an Orlando, Florida, second-hand store in March. Hewes said he mailed off a paper application on April 9 but had not heard back from the state. – READ MORE
Listen to the insightful Thomas Paine Podcast Below --