that's where we ree act and i think our strength of being agile has really paid off for us >> chris miller's grandfather started gdc back in 1955 we would be proud of how they switched gears on the floor over the past month general motors has delivered a quarter million surgical face masks. that's one just company we have heard from they have switched gears and done that. >> not just the auto industry. great story. phil, thanks tyler. >>> thank you. still ahead, new data shows that home renovations have come to a basic stand still. why the mortgage market is partly to blame for that and the ripple effects it could have throughout the economy that is next >>> as companies continue to get hammered by the covid-19 pandemic, rbc expect a wave of mergers in the near future the near future. the sectors that could be most affected by that activity coming up after this. when you look at the critical issues facing our world, what do you see? we see a billion more people breathing free. we see access to fresh food being the global norm, not the exception. we see homes staying cooler, without the plane

chris lu. he's now a senior fellow at the university of virginia miller center. good to see you, but it's on a bad news day. we always come to you with all of this bad news. the unemployment numbers, what strikes you the most? they were about what you predicted. what's happened to all these job gains, and where do we go from here? >> the number was lower than the peak we've seen a couple of weeks ago but we need to put this in perspective. even the 4.4 million people filing for unemployment is about seven times higher than anything we've seen over the great recession. and we continue to hear reports from states about people being unable to apply for unemployment. and on top of that, this doesn't count the millions of americans whose hours have been cut because of covid-19. so this -- these numbers are bad and i think they'll continue to stay bad for the next couple of weeks at least. and i think we're going to start to see a wave of furloughs and layoffs coming from state and local government. as you mentioned earlier, this package that congress is about to pass

economic numbers we saw this morning with chris lu, former deputy secretary of labor in the obama administration, now senior fellow at the university of virginia miller center, joining us. chris, good to see you. that jobs report -- and it's a backward look at 4.4% unemployment in march when the virus was just beginning to spread. we and have the reached a peak yet, even the hot spot of new york city. so it's going to be only a lot worse next week, perhaps yesterday's unemployment claims, numbers and the last two weeks of 10 million is a more accurate picture. >> that's exactly right, andrea. we have to put this job support in context. this is a snapshot of what was happening the second week of march. so this was before many states imposed shelter-at-home requirements so we are expecting a bad number but i don't think we expected 700,000 jobs being lost. that's a drastic number. the unemployment rate went up more than any time since 1975. and i think this is just the tiff of ttip of the iceberg in terms of bad economic numbers. 2/3 were in leisure and hospitality, what we would expect. relatively few lost in retail, which i think sis the next wave th

and then chris low, i've seen fellow at the miller center has worked over the years and all three branches of government. i don't know how many people get to say that truthfully, including seven years in the obama administration. what we are going to do is the same thing we did the first time around. we will take cartoons from each one of these presidencies and sequence all of them creations, that are now part of the university of virginia's special collection library that are available in many cases for you to go see either there or over at the miller center where there are some others. let's start with that first cartoon. for those of you who cannot read that far back because i know it is a little difficult, you've got george bush on the top. what they tried to sell, then as he is perceived, then dukakis, what they tried to sell and as he is perceived. then it's it is his altered ego. i cannot read. can anybody else read that? you got it? there you go. >> altered eagles are how we think of them when we think of them at all. >> there you go. so, i was on the 1988 bush dukakis campaign on

and then chris liu, a senior fellow here at the miller center. and he has worked in over the years all three branchs of government, and i don't know how many people can say that truthfully at least, including seven years in the obama administration. so what we'll do is what we did the first time around, which is to take the cartoons from each of the presidencies in sequence, and all of them are oliphant creations that are now part of the university of virginia's special collection library, and are available in many cases for you to go see, either there or over at the miller center where they a there are some others. we'll start with this cartoon. >> all right. for those of you who can't read that far back, because i know it is a little difficult, you george bush on the top, and what they try to sell, and then as he is perceive and then dukakis what they tried to sell and then as he is perceived, and then it says altered egos and i can't read. can anybody else read that? >> i got it. >> okay. yes, here you go. >> altered egos or how we think of th

joining us now, senior fellow at the university of virginia miller center, chris lu, he served undertion. chris, great to have you with us. 26.5 million americans, more than 26 million americans in just over the last month have filed for unemployment. another dark day of economic news today with 4.43 million claims last week. >> and willie, while this 4.4 million number is below its peak of a couple of weeks ago, this is about six to seven times higher than we ever saw during the great recession. and when you try to extrapolate the numbers out, we're probably looking right now at an unemployment rate of between 16% and 20% which is historic. and we know that the numbers probably don't fully capture the economic pain, it doesn't capture the millions who continue to have their hours cut because of covid-19. we continue to hear about people who are unable it apply for unemployment insurance because state systems are overloaded. and we're going to continue to see wave after wave of people being laid off. the next thing that i'm looking at right now is state and local governments which ar

senior fellow at the university of virginia miller center, chris liu. obama administration. ceo of gen youth, alexis glick. they conduct research for school wellness. stephanie ruhle, these numbers are grim and what do they tell us? >> well, these numbers aren't really representative of sort of how brutal the picture is because, remember, it is a full backward-looking picture from last month before this thing really hit. the number that is the most relevant without a doubt is yesterday's jobless claims topping 6 million. think about this. yesterday's number of just above 6 million is even worse because in the last week we know thousands, if not millions of americans, have been desperately trying to log on to their state's websites, call unemployment offices so they can file for unemployment, but they haven't been able to. it is not the fault of any of these states. people want to offer these unemployment benefits, but the surge is just unmanageable. so the number is brutal, and what it tells us is that for any of those states out there who say, oh, this

let's talk more about this with senior fellow at university of virginia miller center, chris liu.tment banker, peter solomon. he has advised numerous companies on all corners of the retail sector as well as serving as director of more than ten public companies. let me start with you on these numbers, chris, 3.84 million. these are people, not statistics. this is happening in our country right now, a lot of people hurting. do you see this slowing down any time soon? >> you know, i think we will see the numbers elevated for the foreseeable future. to put it in context, even the 3.8 million figure, which is lower than what we have seen in previous weeks, is still six times higher than what we saw in the great recession. these 30 million people out of work essentially wipes out all of the jobs created since the great recession and several million more on top of that. i think the problem is that these numbers even underrepresent the severity of the problem. we continue to hear people not being able to navigate the state unemployment systems. we continue to hear people not getting benef

miller national security reporter. greg, tell me what you uncovered. >> what we're reporting, chris, is that the coronavirus referenceso the coronavirus were included in at least a dozen of the presidents' daily briefs. these are the very highly classified, prestigious reports that are prepared before dawn each day specifically for the president. so this is the most arguably the most important intelligence product that our spay agencies assemble every day and calling attention to the threat of the coronavirus in a way that amounts to a fairly steady drum beat throughout january and february. >> part of the reporting indicates that one of the things they were calling attention to was the lack of reliability about what the chinese government was reporting externally, what they were saying about the extent of transmission and whether it was under control, is that right ? >> yeah, these reports start off fragmentary. they say it looks like there is an outbreak in wuhan but these spy agencies throw more resources at this each and every day and piecing together more information about the virus, they are tracking it as it sp

here's how the "washington post" reporter greg miller who cowrote the story explains the significance of the covid-19 warnings in the president's daily brief to chris hayes earlier tonight. >> this is where the u.s. intelligence analysts put their most important information. i mean so much, a remarkable amount of energy and people go into preparing this single report each and every day and not many get it. main customer is president of the united states. he didn't read the pdb, unlike his predecessors, doesn't sit down to digest this product, doesn't read it, doesn't skim it. >> so the president's daily brief may be the best proof of the president's daily failure to confront the threat to american lives posed in january and february. rerun of sorts of another republican president's failure to mobilize in response to another deadly warning in the presidential daily brief. it told president bush that osama bin laden was determined to strike in the u.s., close quote. not first time that president failed to respond to looming threat that the president was warned about. but this is the first time that a president has become a threat himself, first time

and chris lu, he was deputy labor secretary during the obama administration. he's now a senior fellow at the university of virginia millerter. congressman, thank you. welcome back. let's talk about this program because even if you get this $250 billion, i can promise you because i've done the homework there is zero chance it meets the demand. it's going to run out basically immediately. what do you do after that? >> well, thank you so much for having me, and i hope you and your loved ones are staying safe and strong. there's a few things that we have to consider right now. the first point is that you are absolutely correct. this program has got to be made fair, as well as stronger. it shouldn't just favor people with incredibly strong connections to banks. but we also cannot forget about the fact that this is overall an economic crisis catalyzed by a pandemic. and until we address that pandemic and build out a health care infrastructure complete with expanded hospital capacity, expanded testing and contact tracing, we stand no hope of escaping out of this economic crisis. we've got to figure out a way to get people more

how "the washington post" reported greg miller who co-wrote that story explains the significance of the covid-19 warnings in the presidents' daily brief to chris hayes earlier tonight. >> this is where the u.s. intelligence analysts putinform. so much a remarkable amount of energy and people go into preparing this single report each and ever day and not very many people get it. obviously, it's main customer is the president of the united states. he doesn't read the pdb unlike his predecessors. he does not sit down each day to digest this. he doesn't read it, doesn't skim it. >> so the presidents' daily brief may turn out to be the best proof of the presidents' daily failure to confront the threat to american lives posed by the spreading coronavirus in january and february and this is a rerun of another republican president's failure to mobilize after receive inging a daily wa, deadly warning in the daily brief that was a month before 9/11. the presidential daily brief told president bush that osama bin laden was quote determined to strike in the u.s. end quote. and so this is not the first time a president has failed to defend the united state

the unemployment numbers, chris lu who is a former deputy labor secretary during the obama administration and currently a senior fellow at the university of virginia's miller center. also with us is chief economist for the audit tax and advisory firm grant thornton. she's an adviser to the federal reserve and a long-time person upon whom i rely for unemployment numbers. diane, i don't know if it's coming up to 20 years you and i have been talking about this stuff and we have never had the conversation that we're having today about this kind of number, about 10 million people in two weeks filing for first-time unemployment claims. >> no, never anything like it, and we know these numbers are still undercounting and underestimating the number of people who have actually lost their jobs. all of these numbers do not include the people who are now qualified to apply for unemployment insurance, the furloughed workers, the gig workers, the self-employed under the cares act that was just passed last friday, and many state unemployment sites, not only are they overwhelmed and unable to process the sheer volume of claims that are coming in which has left them lagging

chris wallace standing by with the impact on american families, jobs, medical bills and election coming up. griff jenkins on today's latest developments. david lee millerwe begin with griff jenkins in washington >> ending the week with the numbers at their highest peak. death rate escalating. in the last three days nearly 3,000 americans have lost their lives to this virus. worldwide more than 54,000. the number of cases globally now topping one million with the u.s. representing nearly a quarter of all of those cases. only two countries italy and spain have more than the state of new york alone. these numbers a driving factor and officials recommending a national stay at home order. we expect it soon. only 11 states left in the country that don't have some form of a stay at home. utah, wyoming. oklahoma, arkansas. the list there. we expect the white house task force to announce new recommendations regarding facial covering. stressing it should not be specifically a facemask like the ones front line health workers need so badly. do not go out right now and try and buy the now recognizable n95 masks. those are for the doctors. we need something like a s