Unemployment rate

[jimnyc]

In case you haven't seen, the bottom has dropped out and the unemployment numbers have literally skyrocketed now.

But I have to wonder. On the legal boards I'm on, quite a many are coming with questions about the stimulus money, and also, tons and tons are filing for unemployment even thought they have jobs when this subsides. Some temporary and yes some permanent. But I assume all of those that are home and not getting paid, many filing for unemployment it seems, and that's appropriate and legal. But I assume those numbers are part of the total unemployment numbers and new filings.

Anyway, hoping that while those numbers are scary right now, that it picks up steam quickly down the road. I hope.

[pete311]

Some big players are predicting 15-30% rate. Shit is hitting the fan.
https://www.forbes.com/sites/sergeiklebnikov/2020/03/31/how-bad-will-unemployment-get-heres-what-the-experts-predict/#1398b9844f16

[jimnyc]

Some big players are predicting 15-30% rate. Shit is hitting the fan.
https://www.forbes.com/sites/sergeiklebnikov/2020/03/31/how-bad-will-unemployment-get-heres-what-the-experts-predict/#1398b9844f16

Yep, I read perhaps up to 33%! And it was only 27% in 1933. But I do think we have more to fall back on here than then, and also a way out when things subside. I hope.

[pete311]

Yep, I read perhaps up to 33%! And it was only 27% in 1933. But I do think we have more to fall back on here than then, and also a way out when things subside. I hope.

The stock market looks 6 months in the future, so since it has fairly stabilized, they are predicting we start recovering 6 months from now. Now, if you see the market slide back down, be very worried.

[jimnyc]

The stock market looks 6 months in the future, so since it has fairly stabilized, they are predicting we start recovering 6 months from now. Now, if you see the market slide back down, be very worried.

Oh yeah, I'm watching, and one the phone with my Dad daily, and he and my step mom are active in the market and just did some serious investing in fact. I hope they did the right thing, but they decided to get in on some lower number stocks from some known companies almost assuredly to go back up. But no guarantees in life!

[pete311]

Oh yeah, I'm watching, and one the phone with my Dad daily, and he and my step mom are active in the market and just did some serious investing in fact. I hope they did the right thing, but they decided to get in on some lower number stocks from some known companies almost assuredly to go back up. But no guarantees in life!

I'm not worried about the 401k, I'm just happy to not be on a fuckin ventilator ;)

[High_Plains_Drifter]

If you notice, it's the HEALTH PROFESSIONALS and their "MODELS" they've been using of projected DEAD and whatnot that have advised the president to shut everything down. If you remember, the first "models" predicted 2.2 MILLION DEAD.

Are these people REALLY who we should be listening to, since now Fauci is saying he "can't rely on the models?" Well WTF... can't rely on the models?

I think, even though America is doing as good a job responding to this pandemic as any nation, or better, this thing still caught us completely off guard. Our weaknesses and unpreparedness are epic. This better be a learning experience, and when the next pandemic hits us, and one will, we better be ready.

[KarlMarx]

It is interesting to note that we’ve had several government shutdowns over the past several years and there was little reaction by the economy or the Stock Market but the private sector is shut down once and it’s if the heavens have fallen

Still, the unemployment rate of 4.4 percent is better than at any time during the Obama Administration

[High_Plains_Drifter]

Many of the people that are filing for unemployment DO have jobs, they haven't been fired. They're just not working at the moment. There's a different thing to file for, for missed wages than unemployment, even though they are still filing for unemployment. So the numbers are a tad over inflated.