Over 62 million not-retired people had no pay last week.
Household Pulse Charts
For reference, I used the data from Household Pulse Surveys by the Census Bureau to create this series of charts.
This is week #12. The collection of the data ran between July 16, 2020 to July 21, 2020.
Here are some additional charts from the survey data.
Nearly 100 million people reported no pay in the reference week. Of those, 37,744,514 had retired.
62.173 million people are not retired and received no pay. 4.293 million said they did not want to work.
Those with no pay, but not retired, bottomed on June 23 at 55.780 million.
Some people who are retired still want to work at least some hours.
130.003 million people received pay in the reference week. The number of people employed peaked at 134.855 million for the survey ending June 16.
Did Not Work
117.952 million people did not work in the reference week.
Those that are technically retired still want to work at least some hours.
Expect Income Loss
87.333 million people expect an income loss in the next four weeks. Income loss is by household, not individually.
Clock Ran Out
As noted on Sunday, the Clock Just Ran Out on $600 in Weekly Unemployment Benefits.
Roughly 130 million people are receiving some form of pandemic aid.
Those with little or no pay will get hammered this week.
“So Far Apart on Covid Deal That We Don’t Really Care”
These are huge numbers, especially the 62 million who received no pay at all.
Nonetheless, Trump says “We are So Far Apart on a Covid Deal That We Don’t Really Care”
Lance Roberts is a Chief Portfolio Strategist/Economist for RIA Advisors. He is also the host of “The Lance Roberts Podcast” and Chief Editor of the “Real Investment Advice” website and author of “Real Investment Daily” blog and “Real Investment Report“. Follow Lance on Facebook, Twitter, Linked-In and YouTube
Customer Relationship Summary (Form CRS)