Mottek On Money Special Edition (Thursday, June 4th, 2020)

Thursday, June 4th

Mottek On Money Special Edition - Main Street and Wall Street: Stock post a mixed finish on the latest weekly jobless claims showing another eye popping jump of 1.88 million new people got in to unemployment lines over the past week. Jobless claims now total to nearly 43 million since mid-March during the coronavirus crisis. That report came out ahead of Friday's release of the May jobs report from the Labor Department which is expected to show the nation's unemployment rate close to 20%, highest seen since the Great Depression. Coronavirus cases continue to rise. New optimism on work to find a coronavirus vaccine. Mass protests continue.  Business leaders are speaking out on justice for George Floyd as well as releasing statements calling for systemic change to fight racism and to address issues including income inequality. The latest discussed with economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. Catalina Island is finally reopening to visitors after about a three month economic lockdown. The reopening discussed with Catalina business leader Steve Bray, owner of Steve's Steakhouse and Maggie's Blue Rose restaurants in Avalon.