Over a 50% unemployment rate?
What a disaster.
[Update a few minutes later]
Well, this news about Hokkaido’s second wave isn’t great.
[Update Saturday morning]
California’s “Reopening Task Force” is the usual leftist hacks, who don’t want a pandemic to go to waste. It would be a joke if not for how disastrous this will be.
This has to be catastrophic to Hollywood. You can’t produce content for silver or small screens without getting lots of people together. The theaters are shutdown, creating a backlog of movies to release, and some of those theaters won’t reopen, reducing the revenue of all those movies. The producers, directors, and actors are only the tip of the iceberg. Thousands of set designers, stunt coordinators, camera operators, catering staff, etc… are out of work.
All of that then has a trickle down to the rest of the LA economy. That’s just one major industry in LA.
What is the employment rate after you remove all of the city, local, state and federal employees from that calculation? How many people are actually producing something instead of being a direct charge on the taxpayer?
That’s not the unemployment rate, nor even the participation rate, as the denominator is all people in Los Angeles County, from children and infants, to those living in nursing homes. The pre-virus number was 61%, I think.
Still a very large drop indeed.
I couldn’t figure out exactly what that meant, because the article was paywalled.