Quote from Savings Beagle on April 30, 2020, 4:22 pm

More than 3.8 million Americans filed for unemployment benefits this past week.  That brings the total over the past six weeks to roughly 30 million U.S. workers who've successfully gotten his/her unemployment filings through their respective state systems.

Who knows how many have been unable to even get past that first hurdle.

And I heard a statistic today that just over 60% of those who've been able to file, have actually begun receiving unemployment checks to help them cover their basic necessities.

I get it.  These systems just weren't built to handle the numbers that are pouring in.  But still.

I ended last week's unemployment claims' post hoping we'd see a continuation of the downward trend of claims.  We did.  Just barely.

So I guess that's a positive.

But not if you're one of those 3.8 million from last week or 30 million from the past six weeks.

We need to keep every one of those individuals in our thoughts and prayers.  And keep in mind, even with a downward trend to the newly unemployed numbers, we very well might be next to join this still-growing group of fellow Americans.

While certain industries and sectors of the U.S. economy have been hit harder than others, the cascading effect of mandated shutdowns and unemployment will most assuredly make few areas immune from this recession the U.S. and countries around the world now find themselves in.

It's going to be a difficult trek to get back to where we were just a few short months ago.  

Some, when this ordeal first began, were calling for a quick recovery from what was expected to be a dramatic drop in economic activity. A "V" shaped recovery is what it's called.

Now, not so much.

The letter "U" is what is heard more...or an elongated-bottom "U" even.

And some even think an "L," which implies a very long period of low to no economic activity, is possible.

No matter which letter it turns out to be, the bottom line is we're likely looking to 2021 before things look better.

A lot will change between then and now.

I wish I could say it'll all be for the good, but when considered realistically, probably not.

The federal and state governments need to step up their game when it comes to helping citizens in need.  And also when it comes to keeping America the country with which we're familiar.

Too many Americans are hurting right now.  It's times like this when government is truly needed.

Let's just hope the issues many are having with unemployment claims aren't indicative of what we all can expect as the economy plods along in the coming months.