1 Thessalonians 5:3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape
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: Coronavirus job losses hit these states the hardest, according to record unemployment claims
Zack Guzman Senior Writer Yahoo Finance•March 26, 2020
The impact of the economic shutdown in the U.S. caused by the COVID-19 pandemic was revealed Thursday when the latest tally of Americans applying for unemployment benefits spiked to 3.28 million — the largest number ever recorded in history.
That weekly number quadruples the prior record and dwarfs, by far, the largest halt to employment seen during the 2008 financial crisis. Single weekly jobless claim numbers never topped 700,000, until now.
But digging further into the disastrous 3.28 million headline number reveals a slowdown that hit some states harder than others, and reveals why President Trump might be so eager to see businesses reopen in some communities sooner rather than later.
Key swing states, which Trump won by the slimmest margins in 2016, showed some of the largest percentage increases in unemployment applications for the week ending March 21. Ohio, Michigan, and Pennsylvania each reported a jump in weekly unemployment applications that surpassed 2,300%.
On a percentage basis, New Hampshire suffered the worst spike in unemployment claims, up more than 3,300% from just 641 claims the week prior to top 21,000 weekly claims at last clip. Conversely, Utah, which hasn’t been hit with as many reported cases of coronavirus as other states, only saw jobless claims rise by less than 1%.
The Department of Labor release noted the coronavirus crisis and shutdown was a large cause of job losses in a number of states, including Nevada and New Jersey. Earlier this month, casinos in Las Vegas announced they would be shutting down to prevent the spread of new cases, causing some companies to let a swath of workers go.
The unprecedented national spike in more Americans applying for unemployment benefits, however, reveals the magnitude of the economic shutdown at hand. It also explains why the Senate moved with record speed to approve a $2 trillion stimulus bill, and why Obama’s former top economist Jason Furman said it still might not be enough.
But more specifically for the fast approaching election in November, it presents another wrinkle should the unemployment rate extend higher for the foreseeable future.
“I do think the impact of Covid-19 and the economic impacts are probably going to change everyone’s playbook a bit,” said Mike Ryan, UBS Global Wealth Management Americas chief investment officer, highlighting the fact it could embolden the Trump administration to seek memorializing its corporate and personal tax cuts.
For the most part, however, polling has revealed approving or disapproving of Trump’s handling of the coronavirus crisis has thus far remained a partisan exercise. According to a Monday Monmouth University poll, about 90% of Republican voters say he’s doing a good job, compared with just 20% of Democrats. The numbers overall reveal about a 50% approval rating of his job handling the outbreak so far amongst all voters.
Whether that number changes as more Americans lose their job as a result of more businesses shutting down as coronavirus cases spread remains to be seen. For now, it’s clear that the virus is hurting some states more than others.
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).
True Church / Bride of Christ Spared from God’s Wrath:
Romans 5:8-10. “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 12:19. Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.
1 Thessalonians 1:10. And to wait for his Son from heaven, whom he raised from the dead, even Jesus, which delivered us from the wrath to come.
1 Thessalonians 5:9. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ,
Romans 8:35. Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword?
Jeremiah 30:7. Alas! for that day is great, so that none is like it: it is even the time of Jacob’s trouble, but he shall be saved out of it.
Revelation 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth.
Categories: Economic Collapse
