St Louis Fed Predicts 30% Unemployment Rate for Q2:2020

Don’t worry, many of them will collect unemployment insurance or other benefits.

“Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.“

50% drop in GDP like you didn’t see it coming.

Source: https://www.bloomberg.com/amp/news/a...ar-to-30-in-2q

Here’s an article about job losses:
https://www.marketwatch.com/story/23...sis-2020-03-20