Fear and panic have consequences, too, especially when they stop your income. From Tyler Durden at zerohedge.com:
A staggering 9% of working Americans, or 14 million people, have been laid off as a result of the Chinese coronavirus panic, while 25% of workers have had their hours reduced according to extrapolated polling by Survey USA.
A SurveyUSA poll taken one week ago showed just 1% of Americans would take home no paycheck.
Of note, in California alone, Governor Gavin Newsom said on Thursday that unemployment insurance filings had spiked by 80,000 on Tuesday alone, vs. the usual rate of around 2,000 per day.
Meanwhile in Ohio, jobless claims have spiked to nearly 140,000 vs. last week.
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