Total Employment Falls to Near 20-Year Low. It Will Likely Take Years to Recover.
As predicted by many, April’s employment numbers were the worst ever recorded since the US government began making these estimates in 1939.
The US Bureau of Labor Statistics (BLS) released new estimates this morning, and unemployment surged to 14.4 percent. That’s below the Great Depression high of 24.9 in 1933, but it’s above the early 1980s depression peak of 11.3 percent.
Coming This Month: A $750 Billion Corporate Bond-Buying Program
On the list of things that the government should not do, there must be a spot for the $750 billion corporate bond buying that is slated to begin this month. Under the Primary Market Corporate Credit Facility (PMCCF) and the Secondary Market Corporate Credit Facility (SMCCF), the Fed will lend money to the US government, which will make the appropriate bond purchases.
Refuting Some Economics Fallacies Related to the Corona Crisis
David R. Henderson Critiques Stimulus Bill and Organizes Protest of California Lockdown
Libertarian NYC Doctor Explains the Physiology of the Coronavirus
Andrew Althouse on Clinical Trial Design and Remdesivir
Excess Deaths up 18 Percent for Week of April 11, New York Deaths Were Twice the Average
In recent weeks, we’ve been keeping an eye on weekly total deaths as they are reported by the Centers for Disease Control and Prevention (CDC). Weekly deaths—as opposed to COVID-19 death totals—provide some needed context.
Viruses versus Lockdowns: It’s Not about Tradeoffs
Listen to the Audio Mises Wire version of this article.
It is tempting to oppose the harmful effects of COVID-related lockdowns with arguments couched in terms of tradeoffs.
