Economic Collapse

Increasing Global Economic Collapse and Distress of Nations: Stunning layoff figures from 11 states show the skyrocketing number of Americans that are losing work due to coronavirus

Revelation 13:16-17 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

Increasing Global Economic Collapse and Distress of Nations: Stunning layoff figures from 11 states show the skyrocketing number of Americans that are losing work due to coronavirus

Joseph Zeballos-Roig Business Insider•March 19, 2020

The coronavirus pandemic threatens to throw the economy into a tailspin as businesses shutter across the travel and service sectors and put people out of work.

There is increasing evidence that the number of people registering for unemployment benefits is skyrocketing across the country as a result of the pandemic — and putting systems under significant strain.

The figures are starting to come in from states, and it may be just the beginning of a grim portrait emerging in the labor market, The Washington Post reported.

Economist Jacob Robbins also rounded up data illustrating the surge of people seeking unemployment benefits.

Here are the initial wave of unemployment claims that rocked 11 state governments in recent days:

  • Pennsylvania: Around 50,000 claims were filed on Monday, and the Tuesday figure surpassed that. That’s compared to 14,000 during the first week of March, according to the Pittsburgh Post-Gazette.
  • Ohio: There were 11,995 unemployment claims on Sunday and 36,645 on Monday — compared to 545 the Sunday before, the Columbus Dispatch reported. The Sunday figure alone is around the average number of claims that Ohio’s labor agency gets in a month. 
  • Minnesota: 31,000 people filed for unemployment Monday and Tuesday, per the Minnesota Star Tribune — a rate that’s 10x more compared to the same week last year.
  • Connecticut: The state saw 30,000 unemployment claims from Friday to Tuesday, according to the Hartford Courant. On average, there are usually around 3,000 to 3,500 unemployment claims each week.
  • New York: 21,000 people called to file for unemployment with the state’s Department of Labor by noon on Tuesday, compared to 2,000 the same day last week, per an agency press release.
  • Massachusetts: 19,884 people filed unemployment benefits on Monday alone, compared with 17,382 people for all of February, per WCVB News.
  • Rhode Island: 17,779 unemployment claims were filed in the last eight days, compared to 10 just the previous week, per WRPI News.
  • New Jersey: 15,000 people sought out unemployment benefits on Monday, which crashed the state’s website, WHYY reported.
  • Texas: Around 16,000 people sought unemployment benefits last week, compared to 4,500 only a week ago. It’s a large 40% jump, the Houston Chronicle reported.
  • Kentucky: 9,000 people filed for unemployment on Tuesday along, much higher than the 2,000 who usually seek job loss benefits on a given week, per the Lexington Herald-Leader.
  • Colorado: 3,900 claims filed on Monday, followed by 6,800 on only Tuesday morning, Denver 7 News reported. Last Monday, the state only had 400 people file for benefits.

The Trump administration is proposing a $1 trillion stimulus package as a lifeline to the battered American economy.

Without further action, unemployment in the US could reach 20% — double the worst figure reached during the Great Recession, Treasury Secretary Steven Mnuchin warned.

Jesus Christ’s Offer of Salvation:

The ABCs of Salvation through Jesus Christ (the Lamb)

A. Admit/Acknowledge/Accept that you are sinner. Ask God’s forgiveness and repent of your sins.

. . . “For all have sinned, and come short of the glory of God.” (Romans 3:23).

. . . “As it is written, There is none righteous, no, not one.” (Romans 3:10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” (1 John 1:8).

B. Believe Jesus is Lord. Believe that Jesus Christ is who He claimed to be; that He was both fully God and fully man and that we are saved through His death, burial, and resurrection. Put your trust in Him as your only hope of salvation. Become a son or daughter of God by receiving Christ.

. . . “That whosoever believeth in him should not perish, but have eternal life. For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his son into the world to condemn the world; but that the world through him might be saved. (John 3:15-17). For whosoever shall call upon the name of the Lord shall be saved.” (Romans 10:13).

C. Call upon His name, Confess with your heart and with your lips that Jesus is your Lord and Savior.

. . . “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” (Romans 10:9-10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us. If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness. If we say that we have not sinned, we make him a liar, and his word is not in us.” (John 1:8-10).

. . . “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world. (John 2:2).

. . . “In this was manifested the love of god toward us, because that God sent his only begotten Son into the world, that we might live through him. And we have seen and do testify that the Father sent the Son to be the Saviour of the world. Whosoever shall confess that Jesus is the Son of God, God dwelleth in him, and he in God.” (1 John 4:9, 14-15).

. . . “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.” (Romans 5:8-10).

. . . “For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.” (Romans 6:23).

. . . “Jesus saith unto them, I am the way, the truth, and the life, no man cometh unto the Father, but by me.” (John 14:6).

. . . “For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to everyone that believeth.” (Romans 1:16).

. . . “Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.” (Acts: 4:12).

. . . “Who will have all men to be saved, and to come unto the knowledge of the truth for there is one God, and one mediator between God and men, the man Christ Jesus.” (1 Timothy 2:4-6).

. . . “For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ.” (1 Thessalonians 5:9).

. . . “But as many as received him, to them gave the power to become the sons of God, even to them that believe on his name.” (John 1:12).

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