The civilians labor force is about 165 million people, so we’ve added about ~5% to the unemployment rate in the last two weeks (say 9m increase in claims).

Unemployment peaked at around 25% in the 1930s depression. Rough calcs suggest that could be surpassed: https://www.stlouisfed.org/on-the-economy/2020/march/back-en...

March numbers for overall unemployment rate have been published, but they’re wildly inaccurate because their reference date is mid-month, before most layoffs started.

So we don’t really know yet with precision, but it’s getting close to Great Recession levels.

No, it’s Great Depression levels. You can tell from suppliers.

I just got some equipment quoted with a 2 week delivery guarantee. A month ago there was a 10 week backorder due to Chinese supply chain issues.

The overall market is imploding. Once you see prices drop, that’s it.