Unemployment: Hope on the Horizon - EXIT Homevets Realty - Central Texas Experts

Dated: May 8 2020

Views: 318

Unemployment: Hope on the Horizon | MyKCM
Tomorrow, the unemployment rate for April 2020 will be released by the U.S. Bureau of Labor Statistics. It will hit a peak this country has never seen before, with data representing real families and lives affected by this economic slowdown. The numbers will alarm us. There will be headlines and doomsday scenarios in the media. There is hope, though, that as businesses reopen, most people will become employed again soon. Last month’s report indicated we initially lost over 700,000 jobs in this country, and the unemployment rate quickly rose to 4.4%. With the release of the new data, that number will climb even higher. Experts forecast this report will show somewhere between a 15% – 20% national unemployment rate, and some anticipate that number to be even greater (see graph below):Unemployment: Hope on the Horizon | MyKCM

What’s happened over the last several weeks? 

Here’s a breakdown of this spring’s weekly unemployment filings:Unemployment: Hope on the Horizon | MyKCMThe good news shown here indicates the number of additional unemployment claims has decreased week over week since the beginning of April. Carlos Rodriguez, CEO of Automatic Data Processing (ADP) says based on what he’s seeing:
“It’s possible that companies are already anticipating some kind of normalization, opening in certain states and starting to post jobs.” 
He goes on to say that this doesn’t mean all companies are hiring, but it could mean they are at the point where they’re not cutting jobs anymore. Let’s hope this trend continues.

What will the future bring?

Most experts predict that while unemployment is high right now, it won’t be that way for long. The length of unemployment during this crisis is projected to be significantly shorter than the duration seen in the Great Recession and the Great Depression.Unemployment: Hope on the Horizon | MyKCMWhile forecasts may be high, the numbers are trending down and the length of time isn’t expected to last forever.

Bottom Line

Don’t let the headlines rattle you. There’s hope coming as we start to safely reopen businesses throughout the country. Unemployment affects our families, our businesses, and our country. Our job is to rally around those impacted and do our part to support them through this time. 



The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Blog author image

Yamilet Berlingeri

Allowed me to introduce myself, My name is "Yamy". I am a Licensed Real Estate Person who's Job is described as the Administrative Support Assistant and Office Manager at HOMEVETS REALTY, LLC. I am ....

Latest Blog Posts

Struggling To Find a Home To Buy? New Construction May Be an Option. - HOMEVETS REALTY

There’s no question that the financial benefits of selling a house are outstanding today. Now is truly a great time to list if you’re ready to make a change. But if you do sell

Read More

Why It Just Became Much Easier To Buy a Home - HOMEVETS REALTY - Helping the family with security and stability!

Since the pandemic began, Americans have reevaluated the meaning of the word home. That’s led some renters to realize the many benefits of homeownership, including the feelings of 

Read More

Win When You Sell (And When You Move) - HOMEVETS REALTY - EXPERT ADVISORS

If you’re trying to decide when to sell your house, there may not be a better time than this winter. Selling this season means you can take advantage of today’s strong 

Read More

Tips for Single Homebuyers: How To Make Your Dream a Reality - HOMEVETS REALTY

If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research from

Read More