Trudeau: We received 500K applications for unemployment vs 27K normally
Comments from the Canadian Prime Minister
Trudeau on the jump in unemployment numbers. He said the jump has put an unprecedented amount of pressure on the system and that the 500K number is only for so far this week and compares to the same week last year.
I was warning that systems might not be able to handle the strain last week.
I speculated then that US unemployment claims could hit 2 million. Canada has closed down more than the US but the US is 10x bigger. That would mean more than 5 million claims. The crisis-era has was around 700K.