Mottek On Money (Weekend of April 3rd, 2020)

Mottek On Money
Friday, April 3rd
The coronavirus crisis claims millions of jobs and continues to hit the economy hard as the pandemic shutdowns continue. The nation's unemployment rate soars from a 50 year low of 3.5% to 4.4%, employers cut at least 701,000 jobs. The March jobs report came in a day after weekly jobless claims shattered records for the second week in a row reflecting more than 10 million people had applied for unemployment benefits. The first money from the coronavirus rescue package passed by congress begins to flow. Stocks end the week with a pull back. The week's epic news discussed with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach. Maria Salinas, President/CEO, Los Angeles Area Chamber of Commerce, Jeff Lazerson, President, Mortgage Grader and OC Register Columnist. Business owners adjust to the coronavirus crisis. Among them, long time Los Angeles businessman, philanthropist, Larry Miller, Chief Executive, Sit N Sleep Mattress Stores.