The Collapse Is Confirmed: Job losses Ramp Up Again As Millions Of Americans Slide Into Poverty
A recent study has shown that over 8 million Americans have fallen into poverty this year. Meanwhile, the mainstream media insists that we're in the middle of a significant economic rebound, even though numbers have repeatedly proved the opposite. In fact, another 898,000 new unemployment claims were filed last week, the highest weekly spike since August.
In this video, we question the mainstream media’s assessment about the misleading reviews of the economy collapse, and present a realistic interpretation of the latest studies that warn further millions could be pushed into the poverty line by the end of the year.
Since the lockdown started and business activities were shutdown pushing millions of workers out of their posts and leaving them reliant on the unemployment checks, the number of vulnerable households has exploded.
Sadly, when the stimulus wore off and the benefits were interrupted, many of these families found themselves in desperate situations. They are now facing the threat of losing their homes and going through a difficult winter of acute food insecurity.
According to the Columbia University study, approximately 8 million Americans have slid into poverty since May. The monthly poverty rate for September was higher than rates during April or May, and it also topped pre-crisis levels, due to the expiration of the CARES Act’s stimulus checks and $600 per week supplement to unemployment benefits.
At the same time, the Labor Department announced a spike of nearly 900,000 new claims last week. Which means future poverty rates are expected to present even larger numbers.
Amid a second round of lay-offs, a surge in infection cases, and deadlocked talks over new stimulus, a separate study by researchers at Notre Dame and the University of Chicago, discovered that 6 million people have slipped into poverty just in the last three months.
The new data shows, Black people and Latinos are more than twice as likely as white people to be poor. Both minority groups disproportionately work in industries hardly damaged by the economic recession and have faced obstacles to receive federal aid.
Studies have reported child poverty rates are fast expanding, with an additional 2.5 million children falling below the poverty line since May. Members of both research groups stressed the rising poverty underscores an urgent need for a new round of help.
But, on the other hand, authorities seem unbothered about this situation. They are considering the 8% increase in poverty since January, a “modest amount”. Their strategy is to maneuver the real data so that next month's political events go as smoothly as possible.
For that reason, official government numbers have been rebranded to present a better outlook. Now, millions of workers are not even categorized as “unemployed". Instead, they have been relocated to a category called “not in the labor force”.
According to the Axios group, the number of Americans who aren't considered employed but aren’t considered a part of the unemployed climbed to 103 million in April, which accounts for more than a quarter of the U.S. population.
But Fed chair Jerome Powell has noted a broader measure would be around 11%. Needless to say that labor market conditions are still deteriorating in face of the most recent announcements that more companies let more workers go.
Furthermore, the U.S. Census Bureau has reported that California has the hightest poverty rate in the country. With all that said, if that's what they call "economic recovery", we wonder how “bad times” would be.
For more economic news visit our website: http://theeconomiccollapseblog.com
Unemployment or underemployment is likely closer to 35%
@Manuel Hernandez bull.
Not one store here is closed
Fake news……CALIFORNIA IS COMMUNIST ARMPIT…..
UNAMERICAN….COMMIE HATE GROUPS AT WAR HERE WAKE UP.
ITS INFO WAR
@Sena Sugihara what racism half if us are mutts
@JD Israel And politics. They call it political theater for a reason.
@Steve’s Shed Agreed. I work at a town owned waste management facility. haven’t stopped working in the last year and a half. budget time is coming. will see how COLA is adjusted and if pay increase is happening.
It doesn’t matter who you vote for, everything has a beginning and end nothing lasts forever.
Ejaculation is the blasphemy against the Holy Spirit. Repent!
Civil war class war food riots everything will hit all at once
@nate rogers Remember remember the 5th of november,
not true- eternal life in heaven or hell awaits all.
There is no more future! One will be considered lucky to not die of starvation!
@G G and me mate! I’ll still be ‘big boned’ thereafter! Love and Cornish pasties from England 🏴
Im mean the cavemen survived the stone age i think we can survive a economic collapse 🤔🤔🤔
This is the beginning of a new. You have to destroy the old in order for that to happen. History repeats itself.
People America is going thru a major shift but America will not be the WEALIEST country anymore. As. everyone can see the ELITES is destroying America to make China number 1. America is a WELFARE country. But it is not going to last for ever. America will never be the same again. However ARTIFICIAL INTELLIGENCE is slowing involving an in ten more years a lot more jobs will be done as well. But the world won’t be shut down. For example truck driving jobs will be over. They are testing self driving trucks now an in some states some trucks drivers are being replace by self driving trucks. But it will be complete in ten years along with many other positions this is the ROBTIC AGE ANYWAY. Read up on the 21 first century then I will understand MORE an have a stronger direction in life.
@A_Better_World by time somebody else know the trutg. Why is mr.krab the only krab selling krabby paties mhmmmm. Yes yes …
people think it’s over…it hasn’t even begun yet.
Patrick Mcghee wow you are really excited, aren’t you? Can’t even speak..
They are preparing to crush the American people and roll in a Totalitarian futile type Government!
@x00p3 Respect your viewpoint. It is not hard to see the merger between State and Corporate and birth of Socialism, a hybrid Capitalism.
The eyes can’t see, when the mind is blind.
What in the hell did we do but support these evil creeps for them to do this to us. Don’t say they aren’t because the ones in & out of office are destroying our world .
It is often said that to understand the present we must understand the past. For history is our greatest teacher and one thing it teaches us is that mankind is a fallible species. Our past is as much defined by the truths we have discovered as by the errors we have lived by. But while it can be easy to recognize the mistakes of generations past, it is much more difficult to see the errors in our own ways and for this reason we must be willing to continually question the known.
“. . . it being my intention to write a thing which shall be useful to him who apprehends it, it appears to me more appropriate to follow up the real truth of the matter than the imagination of it; for many have pictured republics and principalities which in fact have never been known or seen, because how one lives is so far distant from how one ought to live, that he who neglects what is done for what ought to be done, sooner effects his ruin than his preservation. . .”
Niccolò Machiavelli, The Prince
No… they would not make $$$ that way.
Not just the American people. Survival will be dependent on how quickly one can become a minimalist. Dump all the unnecessary “needs”. ie, cable aaTV, internet, cell phones, new cars, skateboards, latest clothes, new gadgets
They should’ve let the banks fail in 08 kicked the can down the road time to drink the medicine
@timothy chung 1st of all we’re a republic not a democracy vote jo Jorgensen libertarian party
Ejaculation is the blasphemy against the Holy Spirit
@its#Real your vote hasn’t counted for decades.two party’s taking turns in the president’s seat lol how much more obvious can it get.the president is picked by a 1 person or a select few who control the country
@its#Real Now you want to play were not this or that, but, during your invasions of others, the nation just conveniently united together to *”SLAUGHTER OTHERS- children, women, and seniors included”* ?.
@timothy chung you got it wrong no one wanted war but the media sure did make it look like that!
We are close to being involved in a declaration of war..
Everyone please look at whats happening around the world…
@Sean Lopez how you talked to your brain lately???
All Hell is breaking loose. I believe it’s God’s Judgement.
@robbie Stoley we can only hope it is…and remove the wrath that plagues us.
What war…with China?
@N H That would be correct.
I’m getting used to the new voice. I like’em both
I can’t stand to watch any video in that Robin Leech voice, Lifestyles of the Rich and Famous. I dislike and avoid. But this voice I like.
It doesn’t sound like him does it ?
Congress and Senate refuse to take pay cuts… fat cats and we suffer more each day…,,
when the movie actor was in the W house the SOB never raise the minimum wage but the F MF Crooked Politicians gave themselves 10k pay raise every F year
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Ed Ca they certainly did… free insurance, housing subsidy, vehicle subsidy, etc….
Helen Margaret Will look into it❤️
@Karen Bishop alright, she made me what I’m today. My weekly returns makes mind blowing.
If I was Jeff Bezos I would be feeling quite nervous after listening to this. Sometimes too much of good thing becomes good for nothing.
if he was smart, he’d very publicly donate 60 billion $ to the charities and 10 billion $ each to the Gunowners of America and The Second Amendment foundation.
One CME , a Carrington type event, away from business closed. No power, no internet, no business.
Rich people are at more risk now for violence from destitute gangs of hungry people
I’m afraid it might be the Haves vs The Have-Nots. The McDonald’s employee vs the guy who has no other choice but to do something really desperate.
Cry me a river
@Celtic Revival / Adfywiad Celtaidd Just stating a fact
As long as they know where they live and can get past the gates the dogs and armed guards…
””THE CALM BEFORE THE STORM”” REMEMBER THAT QUOTE?
yeah I was hoping it was a benefit to the people but I guess not
Get ready for more layoffs due to COVID-19 cases surging come fall. 2020 isn’t over folks. Sit back and watch.
Fall is already here. Where have you been?
This year everyone will realize christmas isnt about presents.
Word of ADVICE!!!!
If you are part of the group spending money on xmas this year!
Purchase food, warm clothing, prepping supplies, help pay off a portion of debt. Point is… this is NOT the season for material things!!
So true, I would rather have food in my pantry, Christmas is fun but not essential
Hopefully there won’t be a Christmas at all, its pagan anyways and never was about Christ.
@God first AMEN!!
King James Version
10 Hear ye the word which the Lord speaketh unto you, O house of Israel:
2 Thus saith the Lord, Learn not the way of the heathen, and be not dismayed at the signs of heaven; for the heathen are dismayed at them.
3 For the customs of the people are vain: for one cutteth a tree out of the forest, the work of the hands of the workman, with the axe.
4 They deck it with silver and with gold; they fasten it with nails and with hammers, that it move not.
5 They are upright as the palm tree, but speak not: they must needs be borne, because they cannot go. Be not afraid of them; for they cannot do evil, neither also is it in them to do good.
Nothing has changed since the Roman Empire. They provide bread and circuses to the ignorant masses to keep them quiet.
Yeah…exept at every revolution where they jack de bread price and gdt everybody craycray
yeah, to keep them distracted with things like BLM, racial injustice, defunding police. What really matters is the fact that wealth transfer is taking place right in front of our eyes. The rich gets richer at the expense of common people due to this inconsistent covid19. That is the real problem.
It has worked for the rich for Thousands of years.
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich
That should be on every billboard in America .
Because the poor don’t know or understand the “systems”. The poor and middle class sustain the rich and always have!
We spend to make the world go round they invest to keep pocketing money
When it takes every penny you make to survive you don’t have money to invest. Don’t judge someone until you walk in there shoes!
Socialism for the rich, rugged Capitalism for the poor.
Until Americans unite and start a uprising against the corrupt political system nothing will ever change.
Do illegal immigrants pay taxes ?
If not why should they be eligible for taxpayer funded benefits ?