- Analytics
- News and Tools
- Market News
- US: Unemployment rate could be the highest ever – ANZ
US: Unemployment rate could be the highest ever – ANZ
FXStreet reports that economists at ANZ Bank recap the outlook for the US unemployment rate.
"The St Louis Fed predicts potential job losses of over 46m for 2020. This would translate to a 32.1% unemployment rate, which would be the highest ever. Currently, the peak stands at 24.9%, which occurred in 1933 during the Great Depression."
"An alternate official estimate by the CBO is far more conservative; it estimates unemployment will exceed 10% in Q2."
"The Job Quality Index suggests that around 37m American workers are at risk. This represents around 23% of the workforce. On the other hand, a report from the Brookings Institute suggests around 24m workers are at risk, which is over 15% of the workforce. If all of these workers were stood down, the unemployment rate would rise to roughly 27% (Job Quality Index) and 19% (Brookings Institute)."
"The COVID-19 shock could result in the pool of unemployed rising by 25m. This would result in the unemployment rate rising to just under 20% in Q2."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
