A "weekly decline in new unemployment submissions" isn't exactly a good thing. These are 3.8M new lost jobs in other words, and you wouldn't expect to lose the same amount weekly anyway. We're still bleeding jobs, even with things like PPP. That's pretty fucking horrific.
The best news will be that people are re-hiring again. My wife was laid off and her employer is currently mulling over re-hiring, but there's so much uncertainty and no direction that you can expect more layoffs until people have an idea of when this ends.
It's somewhere between 20-30M jobs lost. Our unemployment rate right now nationally must be somewhere between 13-20%. It was around 3-4% and we've easily lost 10%.
I don't have all the numbers in front of me but those are pretty good estimates.
This is very bad news. This is going to take a lot to clean up. We're talking sweeping reforms of tax policies and new legislation that would have to be very pro-business and pro-American people (Dems have no interest in either) to try to pull the economy out of this, and it's going to take time. People who think we're going to bounce right back are probably very mistaken. Trump has been optimistic but that optimism will only help so much. The reality is that businesses are going to be staring at lost revenues and a stack of unpaid bills, and their first thought isn't going to be "hire and get back to business as usual". It's going to be "run skeleton crew as hard as possible to get stuff paid off over X months, then start thinking about hiring if business is back up".
This is a travesty. We were doing so well and they flushed it down the toilet overnight.
A "weekly decline in new unemployment submissions" isn't exactly a good thing. These are 3.8M new lost jobs in other words, and you wouldn't expect to lose the same amount weekly anyway. We're still bleeding jobs, even with things like PPP. That's pretty fucking horrific.
The best news will be that people are re-hiring again. My wife was laid off and her employer is currently mulling over re-hiring, but there's so much uncertainty and no direction that you can expect more layoffs until people have an idea of when this ends.
Exactly, these are just new filings. Add this to the 15+ jobs lost since we started and that's closer to the real number of unemployed
It's somewhere between 20-30M jobs lost. Our unemployment rate right now nationally must be somewhere between 13-20%. It was around 3-4% and we've easily lost 10%.
I don't have all the numbers in front of me but those are pretty good estimates.
This is very bad news. This is going to take a lot to clean up. We're talking sweeping reforms of tax policies and new legislation that would have to be very pro-business and pro-American people (Dems have no interest in either) to try to pull the economy out of this, and it's going to take time. People who think we're going to bounce right back are probably very mistaken. Trump has been optimistic but that optimism will only help so much. The reality is that businesses are going to be staring at lost revenues and a stack of unpaid bills, and their first thought isn't going to be "hire and get back to business as usual". It's going to be "run skeleton crew as hard as possible to get stuff paid off over X months, then start thinking about hiring if business is back up".
This is a travesty. We were doing so well and they flushed it down the toilet overnight.