Studies estimate that the economic recession spawned by government-mandated “shutdowns” in the name of coronavirus safety could result in suicide rates thirteen times higher than deaths caused by the virus itself.
A study published by Goldman Sachs on Monday calculated the unemployment rate could rise from 3% to 15% over the next few months.
Authored by economist Jan Hatzius, the new report titled “The Sudden Stop: A Deeper Trough, A Bigger Rebound,” forecasts the unemployment rate rising 12% by midyear.
Another study titled, “The Economics of Suicide: An Empirical Study of America’s Rising Suicide Rate,” estimates the correlation between unemployment and suicide rates.
According to the 2014 findings, with a “1% increase in the annual unemployment rate, approximately 21 additional suicides per 100,000 of the population can be expected.”
With the current American population estimated to sit at 330 million, that means each 1% increase in unemployment would result in 69,300 new suicides.
With Goldman Sachs predicting a 12% rise in unemployment over the next few months, America could see up to 831,600 additional suicides attributed to job loss.
That’s 13.3 times more deadly than the latest prediction for Wuhan virus casualties in the U.S.
The latest estimate from the Institute for Health Metrics and Evaluation (IHME) is a maximum of 60,308 American deaths by August, 4th.
Perhaps this is what President Trump was referring to when he said, “We can’t have the cure be worse than the problem.”