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Real Unemployment is 35.7%; The Internationale
by Workingclass Is The Essential Class
The real unemployment rate for April 2020 as of May 8, 2020 is 35.7% Peak unemployment during the 1930s Great Depression was 24.9%. April job losses were 20.5 million, preceded by March’s job losses of 30 million. California’s unemployment claims were 4 million in the past 7 weeks. San Francisco’s unemployed to date are 17,500. The economic crisis preceded the pandemic which is accelerating the economic crisis of the capitalist profit motive. Only a serious labor movement capable of carrying out a general strike to abolish the profit motive can end this Great Depression of the 21st Century.
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