Thoughts on the 14.7% National Unemployment Rate

The United States now has an official unemployment rate of 14.7% - a jump of more than 10% since last month as a consequence of the COVID-19 pandemic. 

More than twenty million Americans made jobless claims during the month of April including yours truly.

The question now is where do things go from here?

Will the unemployment rate be worse at this time a month from now?

In addition to regular weekly unemployment insurance, most Americans are receiving either Federal Pandemic Unemployment Assistance (FPUA) or Pandemic Unemployment Assistance (PUA). What happens come July 31st when the FPUA is set to expire? Will the program be extended? Will there be another round of stimulus checks? I wouldn't hold my breath, but on the other hand Mitch McConnell wants to keep his seat and Donald Trump wants to be re-elected President.

Of course, Trump and his apologists in the GOP and beyond will point the finger at various blue state Governors like Andrew Cuomo, Gavin Newsom, Gretchen Whitmer and J.B. Pritzker despite the fact that GOP Governors like Mike DeWine, Phil Scott, Larry Hogan and Charlie Baker have also implemented social distancing measures. Others will be inclined to blame Dr. Fauci. They'll blame anybody but Trump.

Now it can be argued that this dire economic situation is not confined to the United States. Canada's unemployment rate surged to 13%. An economic disaster came to pass for both a Republican President and a Liberal Prime Minister. But developed nations like Australia and New Zealand have responded far more effectively against COVID-19. Australia's government is right-wing while New Zealand is left-wing. While Australia's unemployment rate is expected to double over the summer our unemployment rate has already trebled in a month and could get far worse. 

It is true that FDR managed to be re-elected at the height of the Great Depression. But instead of telling us there is nothing to fear but fear itself, Trump thrives only on fear. Instead of FDR's fireside chats we are greeted with gaslighting. As long as the economy doesn't get better and more people die of COVID-19 we can expect more of Trump calling the FBI "scum" and accusing them of "treason" and we can expect to hear Trump make Tara Reade synonymous with Joe Biden despite a litany of sexual assault allegations against him. In less than six months from now, voters will have to decide whether they want another four years of the same or whether they want a President whose aim is recovery both economic and healthy. 

But all of this is beyond my control save for a single ballot. All I can do is continue to apply for jobs. At this point, I have applied for more than 30 jobs. Most of those positions are here in New York City. Others are in the New York Metropolitan Area which includes Long Island, New Jersey and parts of Connecticut. I've applied for jobs upstate near Buffalo and Watertown. I've applied for jobs in Philadelphia and D.C. I've applied for jobs in Providence and Boston. It is entirely possible I might get back my old job in the Chrysler Building. But I'm taking no chances because nothing is guaranteed. I still have my health (knock on wood) and this alone gives me a fighting chance for the future whatever it may bring and wherever it may be found.