On March 26, the U.S. Department of Labor has announced that there was a total of 3.283 million unemployment applications as of March 21, far exceeding the figure of 1.70 million that was forecasted and certainly overshadowing the figure of 281,000 from a week back.
For the first time ever in America’s history, the number of figures has reached millions, trumping that of 695,000 during the 1982 recession and 667,000 of the 2008 world financial crisis. Despite jarring numbers, the American stock market remains unmoved and has continued to rise in pricing following its opening on the 26th. The once soared to 1200 points, fluctuating by 5.67%.
Stock prices are rising, but so are unemployment rates, so how can one possibly explain this usually-conflicting-but-currently-contradictory phenomenon? And how do we assess the blow that is has on the American economy?
Employing basic research tracking methods, our researchers here at ANBOUND have gathered a conglomerate of opinions…