economic policy studies director and david balin at citi private back our own diana olick and steve liesmans as well steve, let's get to you as well. your take on the numbers you had been looking for lousy numbers. here you go, you got them. >> reporter: yeah. astonishing. we talked about this with the panel, the market rallying on what are absolutely atrocious numbers here i got the philly fed index, which is down 56 if you are looking for a bright spot here, it's not down as much as the empire state was yesterday, which was down 78 prices paid falling suggesting inflationary impulse expectations also negative minus 30 employment down 46 new orders down 70 it's justone awful, terrible number after another able to do some quick calculations here. if i take the total of 22 million jobless claims over the past month or so since the 21st of march, you have an unemployment rate, potential unemployment rate, somewhere between 12 and 20% depending on how much of that moves over from unemployment claims into actual unemployment at the high side you'd be around 19%. in the middle at 15% unemploymen