Will unemployment break 10 percent next month?

[Asclepias]

I'm thinking more like 20%.

In one month? Maybe in 4.

There are one million small businesses in the US. More than 1/2 are closed.

The million dollar question now becomes "If Drumpf had acted sooner would we be facing the same numbers?"

 

[Asclepias]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

Probably more. Mandated government shutdowns of nearly all businesses will have that effect.

Isn’t multiculturalism and globalism great? All those unemployment should be thankful they get to experience the diverse culture of the Chinese wet markets and their wonderful communist regime.

Ok. Now its all becoming clear. This is why Drumpf didnt order a nationwide shutdown. He wants plausible deniability.

 

[White 6]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

Looks kind of grim. Hope your timeline and estimates by people who should have an informed opinion are wrong. Coronavirus Recession Looms, Its Course ‘Unrecognizable’
Greg Daco, chief U.S. economist at Oxford Economics, says the unemployment rate could hit 10 percent in April, a level unseen since the nadir of the last recession, with the possibility of even higher jobless rates in the following months.
Treasury Secretary Steven Mnuchin reportedly pointed to 20 percent unemployment in the absence of effective intervention, though an aide later said the number was not a forecast.

COVID-19’s Worst Case? 10.6% Jobless Rate, $1.5 Trillion GDP Drop
Steven Blitz, chief U.S. economist at TS Lombard expects that by April the unemployment rate will rise from 3.5% in February to 10.6% — with 12 million more unemployed than the 5.9 million total from last month — a 203% spike.

 

[RealDave]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

Have your fingers crossed, do you?

Just stating what will likely be true.

I wish the fat assed Trump would have paid attention to this possibility from day one in the White Housed. But Nooooooooooo. He closed the NSC Pandemic office. Then went holding rallies and golfing while down playing the virus.

He lied about the tests. Hew lied about the masks. He lied about a drug being approved for this virus.

All so people would ignore the seriousness of this, ignore the stay at home, ignore social distancing, and making stupid posts online.

Thousands of people will die so go **** yourself. We are trying to get people to follow the advice of doctors & you stupid ******* Trumpettes are doing the opposite.

 

[theHawk]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

Probably more. Mandated government shutdowns of nearly all businesses will have that effect.

Isn’t multiculturalism and globalism great? All those unemployment should be thankful they get to experience the diverse culture of the Chinese wet markets and their wonderful communist regime.

Ok. Now its all becoming clear. This is why Drumpf didnt order a nationwide shutdown. He wants plausible deniability.

Not blaming anyone, just stating the facts.
But I do believe the government is out of line ordering people to stay confined and shutting businesses down. I think people who want to risk being exposed should. Only the elderly and those at risk should be told to stay in. For the rest of us the risk is minimal.

 

[yidnar]

I'm thinking more like 20%.

you would just love that wouldnt you .... but lets say millions are laid off ...and then millions go back to work and the economy rebounds ....and thats whats going to happen ...what will yall run on in Nov ...open borders and flight restrictions are racist or if thats not the ticket maybe yall can bring up h1n1 and how great Obama and Biden were containing it ...a less lethal less contagious virus which thousands of Americans died from ?

 

[yidnar]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

Have your fingers crossed, do you?

Just stating what will likely be true.

I wish the fat assed Trump would have paid attention to this possibility from day one in the White Housed. But Nooooooooooo. He closed the NSC Pandemic office. Then went holding rallies and golfing while down playing the virus.

He lied about the tests. Hew lied about the masks. He lied about a drug being approved for this virus.

All so people would ignore the seriousness of this, ignore the stay at home, ignore social distancing, and making stupid posts online.

Thousands of people will die so go **** yourself. We are trying to get people to follow the advice of doctors & you stupid ******* Trumpettes are doing the opposite.

 

[Asclepias]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

Probably more. Mandated government shutdowns of nearly all businesses will have that effect.

Isn’t multiculturalism and globalism great? All those unemployment should be thankful they get to experience the diverse culture of the Chinese wet markets and their wonderful communist regime.

Ok. Now its all becoming clear. This is why Drumpf didnt order a nationwide shutdown. He wants plausible deniability.

Not blaming anyone, just stating the facts.
But I do believe the government is out of line ordering people to stay confined and shutting businesses down. I think people who want to risk being exposed should. Only the elderly and those at risk should be told to stay in. For the rest of us the risk is minimal.

Well youre entitled to your opinion no matter how wrong it is. Good thing we havent elected anyone that feels as strongly about it as you do.

 

[RealDave]

I'm thinking more like 20%.

you would just love that wouldnt you .... but lets say millions are laid off ...and then millions go back to work and the economy rebounds ....and thats whats going to happen ...what will yall run on in Nov ...open borders and flight restrictions are racist or if thats not the ticket maybe yall can bring up h1n1 and how great Obama and Biden were containing it ...a less lethal less contagious virus which thousands of Americans died from ?

See, another ******* worthless dumber than shit Trumpette bringing up Obama to make excuses for his fat assed stupid orange leader.

 

[Kilroy2]

Well if this was to trigger a world recession then unemployment would rise and those who belittled OB economic stimulus package are going to be making a case for there own economic stimulus package.

Yet can anyone have faith in an economic package done by Trump, who cannot tell truth from fiction

Still as the Fed cuts interest rates, time to refinance those loans

 

[rightwinger]

I'm thinking more like 20%.

In one month? Maybe in 4.

There are one million small businesses in the US. More than 1/2 are closed.

How can that many businesses stay closed indefinitely and still remain in business?

 

[rightwinger]

I'm thinking more like 20%.

you would just love that wouldnt you .... but lets say millions are laid off ...and then millions go back to work and the economy rebounds ....and thats whats going to happen ...what will yall run on in Nov ...open borders and flight restrictions are racist or if thats not the ticket maybe yall can bring up h1n1 and how great Obama and Biden were containing it ...a less lethal less contagious virus which thousands of Americans died from ?

All Trump has to run on is.......
I may be an asshole, but we have a great economy

The economy is not that great anymore

 

[flacaltenn]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

If they still have a job nothing... they fall into the same category as sick and vacationing workers

Around here, at least for restaurant and store workers, employers are calling them "laid off" so they can collect unemployment until things reopen. Then they will be "rehired."

Which is why the "shower of checks" is a terrible idea.. EVERYTHING should be focused to the Unemployed right now.. Because largely the govt reaction is CREATING the unemployed...

Retirees don't NEED the supplemental income.. THey didn't have it a month ago...

Should be opening new unemployment centers and staffing them WITH the unemployed...

 

[Frankeneinstein]

No they don’t.

If they are involuntarily out of work and not receiving pay

OK, I see what you mean.

 

[OnePercenter]

I'm thinking more like 20%.

In one month? Maybe in 4.

There are one million small businesses in the US. More than 1/2 are closed.

The million dollar question now becomes "If Drumpf had acted sooner would we be facing the same numbers?"

Early warning always works.

 

[OnePercenter]

I'm thinking more like 20%.

you would just love that wouldnt you .... but lets say millions are laid off ...and then millions go back to work and the economy rebounds ....and thats whats going to happen ...what will yall run on in Nov ...open borders and flight restrictions are racist or if thats not the ticket maybe yall can bring up h1n1 and how great Obama and Biden were containing it ...a less lethal less contagious virus which thousands of Americans died from ?

I didn't vote for asswipe, so unlike you, I'm not enjoying myself.

 

[OnePercenter]

I'm thinking more like 20%.

In one month? Maybe in 4.

There are one million small businesses in the US. More than 1/2 are closed.

How can that many businesses stay closed indefinitely and still remain in business?

Hopefully businesses are adequately insured and there's enough bailout money to go around. If housing gets dragged in, this is going to be worse than 2008. Much worse.

 

[OnePercenter]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

If they still have a job nothing... they fall into the same category as sick and vacationing workers

Around here, at least for restaurant and store workers, employers are calling them "laid off" so they can collect unemployment until things reopen. Then they will be "rehired."

Which is why the "shower of checks" is a terrible idea.. EVERYTHING should be focused to the Unemployed right now.. Because largely the govt reaction is CREATING the unemployed...

Retirees don't NEED the supplemental income.. THey didn't have it a month ago...

Should be opening new unemployment centers and staffing them WITH the unemployed...

What if the retirees retirement income was market based? Or near retirees have 401k's?

 

[flacaltenn]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

If they still have a job nothing... they fall into the same category as sick and vacationing workers

Around here, at least for restaurant and store workers, employers are calling them "laid off" so they can collect unemployment until things reopen. Then they will be "rehired."

Which is why the "shower of checks" is a terrible idea.. EVERYTHING should be focused to the Unemployed right now.. Because largely the govt reaction is CREATING the unemployed...

Retirees don't NEED the supplemental income.. THey didn't have it a month ago...

Should be opening new unemployment centers and staffing them WITH the unemployed...

What if the retirees retirement income was market based? Or near retirees have 401k's?

Draws on most SEP/IRAs are quarterly at best... That's the mgt arrangement used.. Same with 401Ks. It's not like you're writing checks or paying bills out of those accounts.. And LIKELY -- if you've retired a LONG time, there's a cash reserve good for 4 to 8 months in there..

What's gonna hurt them is near zero interest rates if they have cash OUTSIDE those accounts... But the attitude since 2008 has been "screw them" -- the economy needs it...

If they did not NEED a stimulus check 4 months ago -- they don't need one now.. The unemployed should be the focus of the Swamp "rain makers"....

 

[OldLady]

Looks like millions are out of work because of the virus. What will it do to the unemployment rate?

Amazon is going to hire 100,000 people, I heard on the news. Kroeger and just about every other grocery store are looking for workers. It's temporary, I'm sure, but it's jobs. Not that it will put a big dent in the unemployment figures, but it's a help.

Amazon is shutting down operations of everything except essentials. Smith's (Kroger in Nevada) is closing stores for delivery and pick-up only.

You might be right about Kroger--I heard that a few days ago on the radio.
Coronavirus: Amazon, Walmart among companies hiring during crisis

Is Amazon still delivering packages? Here’s what you need to know.