Unemployment claims in Kansas and Missouri have skyrocketed because of the COVID-19 outbreak and stay-at-home orders.
MOVING.FORWARD AS UNEMPLOYMENT NUMBERSSKYROCKET IN BOTH, KANSAS ANDMISSOURI.THERE IS HOPE FOR SOME RELIEFFROM CONGRESS RIGHT NOW TODAY.THE MARKETS ARE UP.SO THE GOOD NEWS OF THE RELIEFPACKAGE SEEMS TO BE OUTWEIGHINGTHE BAD NEWS OF THE JOBS.NATHAN MARK IS AN ASSOCIATEPROFESSOR OF FINANCE AT UMKC ISBLOCK SCHOOL OF MANAGEMENT.HE SAYS THE SHARP INCREASE INUNEMPLOYMENT IN THE PAST WEEK BYMORE THAN A THOUSAND PERCENT INBOTH, KANSAS AND MISSOURI ISUNPRECEDENTED.THIS IS DEFINITELY VERY QUICK.SO THIS IS ONE OF THE THESTEEPER DROP SMOCK SAYS THELONG-TERM ECONOMIC IMPACTS OFTHE VIRUS REMAIN TO BE SEENLONG-TERM.WE’RE NOT TOTALLY SURE I THINKIN THE SHORT TERM THEUNEMPLOYMENT NUMBERS AREPROBABLY GOING TO GET WORSEBEFORE THEY GET BETTERQUARANTINES HASN’T FULLY HITYET, BUT HE’S HOPEFUL THEEVENTUAL REBOUND WILL BE ASSWIFT AS THE DOWNFALL A LOT OFTHESE BOXES IN IN CASH THAT THEECONOMY IS SEEING REALLY WILL BELIMITED JUST TO THE AMOUNT OFTIME THAT WE ARE SHUT DOWN AND ITHINK WHEN WE GET RESTARTED,
The impact of these layoffs is finally beginning to emerge.
Nearly 3.3 million Americans applied for unemployment benefits last week — more than quadruple the previous record set in 1982..
