Day 21 Unemployment rate jumps to 4.4%

As expected, U.S. jobless claims are skyrocketing.

The Department of Labor released its monthly jobs report at 8:30 a.m. ET Friday. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:

  • Change in non-farm payrolls, March: -701,000 vs. -100,000 expected and +275,000 in February
  • Unemployment rate, March: 4.4% vs. 3.8% expected and 3.5% in February
  • Average hourly earnings, month on month: 0.4% vs. 0.2% expected and 0.3% in February
  • Average hourly earnings, year on year: 3.1% vs. +3.0% expected and +3.0% in February

NBA Suspends The Season

I asked a friend over a week ago if he had started to stock up on supplies and he said that this was just the flu and people are overreacting. As I watch the numbers of infected people increase it appears like this is way more serious. He likes sports and I can only bet that same thing will happen with the NHL and MLB.

Italy Goes into Lockdown

Millions of people in Italy have been placed on lockdown in an attempt to stop the spread of the new coronavirus amid the global outbreak of COVID-19. If this serves as a warning, will the US experience the rapid spread of this disease.

The global death toll passed the 4,000 mark and the spread is not slowing in the US. Washington state has now at least 22 deaths linked to the coronavirus.

3/9/20
3/8/20

SXSW Canceled, Princess Cruise Ship Infected

The U.S. has confirmed 310 cases of COVID-19. At least 14 people in the U.S. and more than 3,400 people globally have died from the virus. Coronavirus updates: SXSW canceled; 21 aboard Princess cruise ship infected; 7 more states report cases.

At this point, it looks like anyone planning a vacation had better get travelers insurance.

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