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Shedlock: 62-Million People Had No Pay Last Week

Summary:
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. No Pay  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.  Number Employed 130.003 million people received pay in the reference

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Over 62 million not-retired people had no pay last week.

Shedlock: 62-Million 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.

Shedlock: 62-Million People Had No Pay Last Week

No Pay 

Shedlock: 62-Million People Had No Pay Last Week

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. 

Number Employed

Shedlock: 62-Million People Had No Pay Last Week

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.

Shedlock: 62-Million People Had No Pay Last Week

Did Not Work

Shedlock: 62-Million People Had No Pay Last Week

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

Shedlock: 62-Million People Had No Pay Last Week

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
Lance Roberts has sharpened that lens with 30 years in the investing world from private banking and investment management to private and venture capital. Lance Roberts’ perspective and common sense analysis is sought after by media outlets such as Fox 26 News in Houston, CNBC, CNN and Fox Business News along with numerous publications including the Wall Street Journal, USA Today, Reuters and the Washington Post. Roberts is the Editor of the X-Factor report and publishes the blog Daily X-change.

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