Bitcoin Forum

According to the news, there is an issue related to a suspension of visa for workers that Trump administration is looking forward to happen. Some workers are unable to have work because unemployment is their prioritize right now due to the risk of getting the virus. US economy is not that stable enough and they are still having a hard time to make their economy grow again. This coronavirus makes the administration become more careful in employing workers so that they can minimize the growth of this virus from their country.


This will make a big way to some other concerns or issue related to their businesses and economy. The Trump administration should consider other options that will give some benefits on those workers who will not given a chance to employ.


What are your thoughts about this? Do you think that US will have an advantage on not employing workers due to this pandemic?
Will their economy be affected by this suspension on high-skilled worker's visas?

---

Source: https://www.business-standard.com/article/international/trump-may-suspend-h-1b-other-visas-amid-rise-in-us-unemployment-report-120062100316_1.html

I doubt they'll suspend all visas at once, they may attempt to stop travel in or out for a while (if they haven't already) which would be reasonable if not a bit late...

A lot of high skilled labourers will see mass unemployment from places like aeronautics and security industries as money dries up. These issues will probably funnel down to lower skilled jobs too as higher skilled labourers like engineers may move to more application based roles (ie an engineer may become a freelance electrician to try to keep getting an income and take some clients off another one in the same area)... I don't think high skilled people have as much of a problem finding jobs as lower skilled employees will still - even if they cost more to take on. Consumer electronics could also see a spike as aeronautics dips and scholars can probably just go elsewhere (especially for science - Europe, Asia and Australia are pretty good choices afaik)... There looks to have been a massive dip in PhD opportunities everywhere this year though.

They plan to suspend several visa types wholesale, with these exceptions:


https://www.npr.org/2020/06/20/881245867/trump-expected-to-suspend-h-1b-other-visas-until-end-of-year

The primary focus is on H-1B visas, and there are only ~85K of those issued per year, so Trump arguing this is necessary because of high unemployment is rather dubious. He's just being opportunistic and furthering his longstanding anti-immigration agenda.

If Trump's goal is to prevent brain drain to the US (other countries losing their best and brightest to US companies) and stifle US competitiveness, this is a great way to do it. US labor costs will rise across the board. At high level technical and executive levels, companies will need to pay higher salaries to worse talent. Universities are already being hit hard by drops in enrollment from international students. This will certainly make things worse.

How the hell are those counted because till now I've seen numbers from 66k to 300k with a lot of values in the interval.
I've finally got to an official statement and this says:

https://www.uscis.gov/sites/default/files/reports-studies/Characteristics_of_Specialty_Occupation_Workers_H-1B_Fiscal_Year_2019.pdf
more than all the papers are saying.
Seems India is going to be hit the hardest, they seem to have 80% of all the applications.


They would have been good choices in the past, EU companies are also cutting jobs, I doubt there will be an extra 30-300k whatever the number is of new jobs available to absorb this offer, it might actually bring paychecks down, nobody will pay you a lot more when they have 10 people waiting in line for your job demanding half.

Why all this fear?
 All these decisions will be temporary, we have an election season and many problems that need urgent solutions. If these news are correct, the suspension will be temporary for 6 months and life will return to normal soon.

The most feared is that the virus will spread back more sharply, at which point we will have returned again for four months back and thus we have lost all the wages that have been stressed in the past months.

Unemployment rises from the increase in population. And when population increased there was more people and when more people realized they need to go to college there was a lot more colleges made and there was a lot more educated people. Now that means there is a lot more lawyers than needed, there are a lot more doctors than needed, there are a lot more engineers than needed, yet when you need someone to change the pumps in your house the number is pretty much the same, one or two in every neighborhood and that's it.

That is why I think there is unemployment, people are a lot more educated but there are not more jobs like there are more people, which caused a competition between these people and the ones that gets hired are getting hired for cheap labor as well since company could hire anyone they want so they could offer less wage as well.

You are absolutely right.
He's pretending to do so to protect american workers, while he's actually doing the opposite, as the  lower productivity (i.e. less quality per dollar spent, or higher dollar spent to get he same quality) is in reality harming US companies, and making them weaker on the international market.

Interesting point about the university enrollment: have you any source about that?

I can't tell more because I'm not a citizen in the US but based on my quick research I found out this stat that gives graphically results.

https://i.imgur.com/wnr6AxO.png

My thought is due to pandemic when the virus was rapidly spread and as far as I know, Trump declared suddenly shutdown of all kinds of businesses and shed millions of workers. But regarding high skilled worker suspension of a visa might have affected too.

Though the economy is not going to bounce back quickly or recover easily and I heard there are some other businesses that reopen this month but due to the amid covid19, it will affect the number of unemployed.

I guess what I had seen was a projection about the 2020-2021 academic year, from a coalition of universities and associations: https://www.acenet.edu/Documents/Letter-House-Higher-Ed-Supplemental-Request-040920.pdf


I can say anecdotally, living in a college town where the university draws heavily on international and especially Chinese enrollment, it was a ghost town in the spring and the general feeling is it will be a ghost town in the fall too. :(

The big problem with the unemployment is not the increase in population in general but the population of employee in a certain field, one example is the number of people who wants to work as a nurse but the required number for nurses worldwide does not match the number of people who wants to work as a nurse thus creating unemployment, this in turn causes brain drain where graduates work in a field where they do not have the expertise thus causing ineffiecency in work.

Unemployment have always been a problem in every country , but it have always stayed hidden , now due to the pandemic we are really seeing the real stats.

When we talk about the US , 36 million people are already unemployment and 3 million people more have filed for unemployed benefits, therefore 39 million people are unemployed right now . Plus this aside 17 people out of every 10,000 are actually homeless.

Unemployment Arrises because  Government Fails to produce new jobs with respect to increasing population . Industrialization might be beneficial for the company but it does have problems for the workers .

What they need to do is :

• Create jobs online/offline
• Reserve a percentage of jobs for local people
• Don't disturb cryptocurrencies and other non governmental things , they are also providing jobs for a number for people.
• Instead of providing stimulus , use that money to make a local business
• Support local farmers , price might be high but then again you are getting non GMO quality products.
• Instead of wasting money on the police , send that money to nurses and hospitals for PPE , so that recovery can be made timely.
• Keep record of every family , employee people for doing that , see where the family needs support , don't provide them money , provide them jobs !!
• Keep a minimum wage requirement for the workers.

Unfortunately, the economic crisis caused by the pandemic process has had very bad effects in many parts of the world. I think unemployment is one of the most important and most problematic of these effects. We know that such events have not been experienced especially in the history of America and the world and such widespread unemployment has not occurred. Although we have not seen the side effects of the increase in this unemployment rate today, it should not be forgotten that our negligence to face very bad results in the future is very high. Of course, this situation will not only lead us to get negative results, it is certain that there will be some positive aspects. I think that we will encounter positive factors such as new job opportunities and business areas that will emerge online, a slight decline in inflation due to the impoverished people, the start-up of new businesses and the appreciation of every job the young population finds. However, whatever the consequences, the pain of today will be very bad in the future.

Reducing labor will greatly affect the economy. Even if it reduces the spread of disease, it will have a strong short-term impact. Many people will have to live in poverty and always in a shortage of food. But this is also a good solution for America's long-term future. They should cut down personnel in unnecessary industries now to ensure the safety of the country in the future.

Indeed. As most people says they won't die in the virus, they will die to starve due to loss of their jobs and no any source of income. Not only US is experiencing this kind of problem in their country because I assume most countries are having problems on how they would help their citizens to make their jobs back and making their economy to recover again. So if COVID-19 will continue to spread, and the government will start a lockdown again it might start a massive riot in every country.

This time, the disease might break out again. Many workers will have to lose their jobs and face the prospect of no food to survive. This will affect the US economy very badly and it is likely that the market will witness strong sell-offs again. We should be more careful in our future business. disease can flare up again at any time.

The Coronavirus attacks many countries, including the USA, for more than 3 months, and we don't know when the pandemic will over. If this is happening for a long time or until next year, we can not imagine what will happen to many countries if they can not start to rise and try to get out of this pandemic. The employee already lost their jobs before, and now, they are difficult to find new jobs in real life because many companies have a new standard to accept the new employee.

After the Second World War, the United States showed very high economic growth rates, but since the 70s, the United States of America has experienced large-scale bursts of unemployment several times and each time had its own reasons for this. In the seventies, America had 9% unemployment due to the oil embargo and due to Nixon’s poor policies. In the eighties, the United States already had almost 11% unemployment due to rising oil prices, after the revolutionary situation in Iran. The economic situation was aggravated due to the aggressive economic policies of Paul Walker. In 2009, America suffered from a massive drop in stock markets, which resulted in about 10% of unemployment. Today, the economic decline and unemployment rate reaches 22%, which is the result of the global isolation of the country due to coronavirus. at least, these figures are comparable to those of 1929-1933, when there were almost 41 million unemployed in America, which is almost 24%. Thus, it is precisely the current crisis that can be compared with the Great Depression. But today the whole problem is that borders were closed, trade relations were interrupted and enterprises were closed. if quarantine is weakened and self-isolation is converted into a more effective way of controlling the spread of coronavirus, then the economy will be able to return to its previous performance in a short time. To do this, it was necessary to open transport links, trade relations and enable production and other enterprises to work. undoubtedly unemployed people will be returned to their former places and thus the volume of unemployment will decrease. The only problem that needs to be addressed is isolation and quarantine.

Not only in US but even here in our country unemployment keep on increasing. I think different countries are now experiencing a high numbers of unemployment due to pandemic that until now there is no cure. Is so sad because most of us will continue to a difficult living. Even we're going to save  all that we have as long as we can but our needs continue daily.

If the pandemic is just the reason why the unemployment in US keep on rising,it will be difficult for everyone because they can't sustain their daily needs.  But we have nothing to do about it because almost all companies and business stablishment etheir closed or lessen their worker due to the continuous increased of covid19 pandemic. That's why the government should think a solution for this problem so that the life of their community not getting worst.

If you think about it their options are pretty limited right now as long as the pandemic is still there projects and opportunities coming from the US government will be limited so their options for creating job will be for a select few and that will only benefit people mainly who have graduated related to helping the fight against the COVID 19 pandemic. Some articles say that the recession started last February and they might be right about it so I wouldn't be surprised that we are seeing the affects of it now combined with the pandemic we have. Not until they have a proper solution against the coronavirus I don't think they will have a smooth way of starting the economy back.

Obviously a lot of countries do suffer from covid and unemployment is one of the biggest problems.
Whole world is going to face tough times after end of this lockdown.
We are in huge debt hole and who knows how much more we are going to "fall" in it

This might just be a saving face for Trump, as this decision may benefit most American workers but it'll be hurting the American companies and other businesses that are established on the American soil. Then again, they aren't given the luxury of choosing better options since they are pretty limited as of now. While some countries are already slowly recovering from the pains of the pandemic, the US is still trying to get a grip of what's happening considering that they are by far the country with the highest incidence of infection. It will take a while before they get something going, but for now, Trump has no other option but to let go off some of the skilled, alien workers and prioritize his own.

I do wonder how much information governments keep on visas they issue, they might just have a number or information somewhere in case they need it although I imagine this is another thing the US government inherited from the UK - an irrational fear of any data or files being kept...

And yeah but a wage reduction of specialist roles may allow more people to fill it and different ways for them to be entered... If I high demand springs up somewhere you could train up a bunch of apprentices to work on the job rsther than hiring expensive graduates (which might become a problem for people who get told they need to be a graduate to get a job a few years ago)...

At least the US government will do some action to at least Give this unemployed a alternative income ,even not that much but for the reason they need to eat daily and no one can help them but the Government .

according to this thread https://bitcointalk.org/index.php?topic=5257322.0 there are 140 million people lost their Job and still counting in India alone.

Let's hope that just because people were fired doesn't mean they will not be hired in the near future. I understand that companies couldn't make a profit during this period and the first thing they did was fire people since that is one of the biggest expenses, however the economy will recover eventually even if it takes a long time and companies will have to get bigger once again to make more profits which means they should be looking for new employees as well.

Some people may change places and some unemployed people even before this could have gotten a chance now that this happened and some people will have hard time finding a proper job. However as long as we recover decently enough and get back all of these unemployed people back to work we should be fine unless we fail this which means it is going to hurt a lot.

Definitely, the economic will be hampered by that move but then, the aim of the suspension of visas is to reduce the rate of the virus to a bare, manageable percentage until a vaccine or cure becomes available.  It's a sacrifice that needs to be done. Unless the pandemic ends, normalcy won't return.  The issue we should be more concerned about is how to survive the pandemic now that there are fewer jobs and opportunities. This is where the government can make it easy for citizens who are currently not working due to the pandemic. The truth is, If there's an alternative that allows people to stay at home and cater for their needs, it shouldn't be a problem. It's just worst when there's no other source of income and then there are no jobs.

I think this is also happening in other places, the rate of unemployment is growing and companies has been hit hard by the pandemic and cannot continue to pay for some of their employees. This is going to be worst consequences of pandemic as job losses and low production of food and other day today life's requirements may get hit. Even pandemic comes to an end, this type of consequences may persist for at least next 2 years.

Although it’s not really all the companies that are in such position and some of them are against this idea of suspending visas that will allow them to employ foreigners. I have seen some oppositions and some have said that they are prevented from recruiting of workers that are seriously needed for a role. This was done to prevent people with the virus or that are living in such places where there are cases to have access to the US.

Not even sure what they want right now. According to them, if this is going to help them revive their economy, well then that is a good news. But, what about long term development? I am sure suspension on high skilled work visas is going to affect the future economy of the country quite badly. There will be sudden demand of skilled workers, but employers will be forced to take in unskilled workers (just like the current police department. Lack of skilled officers and they are taking in anyone into the force no matter their qualification. They are still considered even if they fail their test! This is how bad the situation is).

Although the number of new claims has still gone up the number of continuous unemployment claims is going down,
https://www.bloomberg.com/news/articles/2020-06-25/u-s-initial-jobless-claims-worse-than-forecast-for-second-week

I've taken a look at the claims per branch and activities that are still partially shut down in some states, one-quarter of them are in leisure and hospitality, the hardest hit, the more you go into specialized fields and tech the lower those number go.


Fortunately, there are loopholes.. ;D


Yup, the US would be in trouble if they would run out of foreign fashion models.


The more skills are needed for that job the harder it is to train a new person from the start, you will never get specialist in that domain next year just by training, it takes a lot more. That's why western Europe drains and relies on specialists from the Eastern block, you get doctors far cheaper than having to pay for 9 years of expensive education. Ironically enough the same specialist that loses their jobs can far easier switch to a lower-paid job done by people with basically no qualification. A job is still a job, better than being unemployed.
He is targeting the wrong sector...again...and again!

I think this is an election gimmick to piggyback onto his "America First" or "Let's make America great again" campaigns of the past couple of years. It only make sense that you would implement restrictions for external employment now before the elections... because it is the Americans with the voting rights.

After the elections things might change very fast, because industries love to use cheap labor from other countries and you will see a flood of immigrants entering the country again.   ::)

Politicians just know who their target for votes is and it is definitely not people from other countries. The Mexicans will never vote for him after the "Big Wall" fiasco.  :P

What do you mean by "break out again"?

The disease is already a problem and I don't think we should use the word "again" since it is already here and continuously spreading across the nation. In our country, the cases are continuously increasing and the government already said that the vaccine might be next year. The US was hit by this pandemic, not just unemployment but some businesses were already closed. With the losses of some businesses, I think it is really inevitable for them to decrease their workers. Not just in the US but in a lot of countries as well. Fresh graduates are mainly affected by this too.

I think this project is designed more for low-skilled personnel - no one will want to give away valuable personnel just like that (try sending someone from the flagships of silicon valley). But all sorts of "draft personnel" and low-average managers on salaries can quite go home to free up space for citizens of the country. Quite a good policy for me. First of all, we need to think about how to keep personnel and money in the economy and not let them flow out of the country (as happens with labor migrants).

We cannot deny that some of the country today are going to close their business which is part on the economic and getting feared to become infected on this virus and because of that there are some people does not have work.

Today the number of unemployed people is increasing because they quit their jobs and getting afraid to get infected on this virus and this may cause of having a low GDP on their country we cannot blame the people to avoid this virus attached on them it is better to become safe than risk your life to earn money.

This is a very important issue and it can greatly affect the overall economy of the world. We all know America is home to the world's largest heavy industry and services. When people here lose their jobs, the surrounding countries will be seriously affected. But what I'm really worried about is that stocks in the US are still growing strongly. The government rescued the people, but the people used the money to invest in the stock market, while the economy was heavily delayed and there could be an economic crisis in the future. What do you think about this issue?

The government does not create jobs, the free market creates jobs. The U.S. government can step in during times of crisis to provide economic relief, but the money doesn't just come from thin air. The government artificially creating jobs works the same way and it's bizarre to me to see so many people requesting money from the government as if we don't have to pay it back over time. Investing money into useless jobs that won't create any sort of economic output is the same thing as torching money on fire. The PPP gave out loans to small businesses that saved some jobs, but it also gave out money to businesses that were guaranteed to default on their loans.

Local farmers already get tons of subsidies to produce certain crops. They're doing fine. And the police budget is not a federal government program so I'm not sure why you think they have free money to give. Police departments are ran by local officials and their budgets are allocated by the mayor of a given city. After you pay salaries and overtime for staff, there isn't much money to spare.

yes it is  . jobs is the one where people get money and if they dont have a job  , they can be starve and die soon  however i dont think this can affect other countries too because its only the problem of one country   .

they decreased workers but this does not mean they wont continue operating thier business  , that means they can still supply other countries or can still recieve stocks from other countries if they want to  . i cant believe this happening to u.s country as that country is more wealthy  than others   .

more than 30 million application?if this is the real count of people Unemployed then they are more than what Indian government has?
because the last Post I've read about India is they have added 14 million lose their job this pandemic.

At least Trump Prioritizing Health workers and farmers not like in my country that has not prioritizing farmers in which causing the crops are mishandled and throw in the garbage .
That is normal because the demand for products and service is lessen due to pandemic,But what we must see here is the effort of each government to slowly bringing back life to normal.

Cannot be real count. These stats are just showing how many claims made in one week of time. 33 million must be the total claims made for unemployment benefits in last 6/7 weeks and cannot be the total number of people become jobless. (I assume if I apply for unemployment benefits this week then I need to apply again for next week if I still remain unemployed).

I am not sure how this bar chart stats is misinterpreted to total claims when it is showing cumulative data.

The actual count of total unemployed USA people in May 2020 is 21 million. It was 23.1 million April 2020. So, actually 2.1 million people got back to works by this month.

You can refer this news release of bureau of labor statistics(bls) for accurate numbers: https://www.bls.gov/news.release/pdf/empsit.pdf

I am just worried for my countrymen out there especially for the domestic helpers. I hope they still have their job and not affected of this. If they become unemployed, they are no where else to go, they have no money to be used to provide their needs plus they are far from their homela d and their family. It is very difficult

The trouble is not going to last forever but as long as population rises it will eventually lead to the same thing over and over again. System makes sure that there are crashes time to time which results with middle class to poor class all going down while rich and wealthy get saved, which means they will eventually get to a level where they are too rich and will want to hire more people to become richer obviously.

However, they will once again crash and get bailed out meanwhile firing millions of people and this cycle will continue forever. Remember 2008? There was millions of people out of a job and in big debts back in those days as well. So at the end of the day, this firing period will end and there will be a hiring period but there will be another firing period in the future as well, we have to manage to stop that one.

It's the total initial claims that were filed. In other words it captures all the people who lost their job and then filed for unemployment benefits. Some of those people have found work since then. I still think it's a meaningful metric because when people lose full-time jobs they are often replaced by temporary or part-time jobs, or they involve transitioning from an employee to IC or gig worker.


Buried in the fine print of that unemployment report:


https://www.cnbc.com/2020/06/05/heres-why-the-real-unemployment-rate-may-be-higher-than-reported.html

My back of the envelope calculations say they knowingly under counted by like 4-5 million people.

They have the government to help them, in that case they will have to go back to their country and the let the government provide them a livelihood.

OFW are big contributors to the economy of a country, especially from a 3rd world country so if they are in crisis, for sure there's an allocated funds from the government to help them.  We will never know what would happen as the economic problem will get worse, but we should all be ready and accept all the possibilities so we can survive.

I'm wondering where you get the quotation, but then it turns out that you just copied it on the internet which is against of the forum rules.

Why do you need to plagiarize? I just found the source of your post where you plagiarize (https://www.cnbc.com/2020/04/29/how-the-coronavirus-pandemic-will-impact-the-future-of-work.html) it. Why do you need to plagiarize man, I mean every opinion of ours count here in the forum. You should have closed that apostrophe  ;) now say goodbye to your account.

That is quite interesting.
That error was noticed quite immediately in the market, there are people looking quite carefully to those kind of data, but nonetheless the occurrence is quite weird.
I don’t want to say it was a deliberate sabotage, but of course this made easier for “biased” news outlet to pass trhough narratives different from reality.

I am working in the IT sector and now online meetings has become a norm. Client meetings as well as internal discussions are being done with the help of the Zoom application (and obviously some guys are not happy because of its Chinese origins). Now the company has realized that online meetings are much more productive when compared to physical meetings. I hope that they will prioritize online client engagements, even after this pandemic is contained. The growth in the number of people who work from home, and the reduction in company expenses as a result has been one of the few positives from this virus outbreak.

This can obviously mean a loss of jobs, especially in the airline and hotel sectors. If people travel less for business meetings and client engagements, then the hotel/airline occupancy may get hit. But for now, let's talk about the positives.

Theres no way we'll take about economy this year and we would ignore the negative consequence if the pandemic which was what lead job losses around the world.
Nevertheless, the aviation industry and accommodation/reservation industry are not the only major setting hit by job losses because the banking sectors with the inclusion of oil and gas etc are all affected.
With that been said, the numbers of the US employment provided is not accurate and cant kbow the actual number except we get information of all people that filed for unemployment benefits.


I'm unware about people not happy because of zoom origin but if it truth, i guess it because the Chinese government intervene in the project with their centralization.

Google also offer online meeting just like zoom.

Trump is trying to restore jobs to Americans who have lost their jobs, so a temporary freeze of foreign workers would be beneficial.
These workers will wait for several months and then they can return to the United States and work again, they can endure for several months.
Workers must tolerate the citizens, they will get 400,000 new jobs and everyone is happy.
Workers will have hard times, pray for them.

The effect will be negative for companies and positive for workers who have lost their jobs in the United States. Many have lost their jobs and it is difficult to allow foreign workers to take those jobs.
The companies will be affected because they need to hire skilled workers, but at much higher prices, which means the need to pay more money.
I do not expect the decision to last for several months, or it may be completed before the end of the third quarter of this year.

The first quote you made there already explains why their government is doing that. I am not going to blame the US government, they are doing what they can to help their own people. Other governments around the world should do the same and help their citizens at least until the pandemic situations gets over if they do not have any permanent policy on jobless and unemployed people.

It really pisses me off when what the government knows is just to stealing from their subjects and making situations worst for them and not providing jobs and other things that are necessary for the survival of their people. Meehn, it’s very bad. This is really a time for change, and the pandemic has taught us a lot, we should be ready to change for good. Although the bad eggs will never agree to that.

And seems like another crisis that was supposed to wipe out the global economy is going to be avoided

US economy smashes forecasts, adds 4.8 million jobs in June
https://www.businessinsider.com/june-jobs-report-nonfarm-payrolls-unemployment-rate-us-economy-coronavirus-2020-7

Not that surprisingly the economists were again wrong:

Once everything will open up we could probably back to something close enough to January February levels, just one more month like this and unemployment will fall below the 2009 crisis.

More stores are closing.

More than 4,300 stores are closing in 2020 as the retail apocalypse drags on. Here's the full list. (https://www.businessinsider.com/stores-closing-in-2020-list-2020-1)

That's equivalent to thousands of employees are getting affected, and that is due to the pandemic.
More and more will close this year, that's for sure as they can't survive with their operation when people are prioritizing to save to survive.

I wouldn't say that. The BLS is still significantly undercounting the unemployed, and they are admitting it too. When you factor that in, those economists were pretty spot on:


https://www.epi.org/press/two-months-of-gains-but-a-huge-jobs-deficit-remains-and-deepening-pain-is-on-the-horizon-congress-needs-to-act/

Not to mention this:


That's how they massage the numbers so that 15.3% unemployment "officially" becomes 11.1%. Even if we ignore all of that, we're well into reopening and still at double digit unemployment. That's not very encouraging in my view.

Nope it is not, and the proof is in the article:


So in 2019, we had 9300 stores closing with no pandemic, and this year with the pandemic we had only 4600. And previously in 2018 we had 8000.

Look also at the details about the stores:


Most of those stores would have closed anyhow and the decisions wer made before the virus outbreak


Yeah but they have been doing this undercounting for the start, so it's not just that the situation is just as worse now, it's also a fact that the situation was way much worse two months ago.
And about that article, sorry but I couldn't go over all of it, the moment I started reading again about how black people are getting affected more than white people who are getting all the jobs and the injustice in payments for black women, ..I'm tired of anything that touches races right now.

But it's very evident that the corona virus make it worse for them this year.
The figure stated was based on a previous full year record and we can compare it to the current period which are still 1st half of the year.

And this was taken from the article too,..

the increase in unemployment is not only happening in the US, my country and also almost all countries experience it.  this happened because of the impact of employers who were unable to pay salaries due to lack of income so they decided to temporarily lay off their employees until conditions improved..

not all many companies decide to lay off their employees, some companies impose work shifts and cut employee salaries by 50-70%.  right now what is in an uproar in my country is the Pizza Hut franchise business owner declaring bankruptcy, they are unable to meet their expenses because it is not balanced with income..

for the moment I don't want to blame the government because after all, they must have worked hard but there is no right solution, they are the same as us, equally affected by this "PANDEMIC"..

Naturally, the number of unemployed people in America increased, because the corona virus caused companies and merchants to
temporarily close.Therefore there will be more unemployment, but starting this month many companies and merchants have reopened.
Expected to reduce unemployment, but must be careful when reopening companies and merchants. Health protocols must be implemented,
so that no additional corona virus infections occur.

After this Thursday jobs report showed an unexpectedly positive number, many analysts hurried to underling this was the best result since 1939. Well, of course you have the best number after the worst data in history.
It is yet to see if the recovery will go on in the coming months and at what pace: my suspect is many business simply wont be able to survive the lockdown and so to reabsorb the layoff will be extremely difficult.

Just because there was more jobs added, doesn't always mean that everything is fine. The troubles of people still trying to save the government when the other side is saying things could be better is scary.

They are not saying that we should all die or whatever, they are saying that unemployment is a sky high rate that is breaking records and we should be all employed and have federal jobs guarantee, that is really nothing bad, that is really nothing hurtful, its a guarantee that you will be employed one way or another and that is a good thing.

Definitely it looks like companies are hiring people back up, however these are the same companies that got 2 trillion tax cut just a few years ago and the moment something bad happened all the profits, all the stock prices, all the employees were all gone. That shouldn't happen, even companies wouldn't want that, there is no reason to support it.

Not only that but the numbers are juiced. 8.2 million people who want a job but don't have one have been erased from the official unemployment numbers: https://www.bls.gov/cps/employment-situation-covid19-faq-june-2020.pdf

That's what the BLS does when you can't get a job for so long that you stop looking: they act like you don't exist. Take that into account and 4.8 million jobs added at the height of reopening doesn't look so impressive.

I've never seen such egregious misrepresentations from the BLS before (not even close) as those that have surfaced in the past few months. They also continue to omit millions of unpaid, furloughed workers from the unemployed.

The US government isn't quite as shocking as China with their misrepresentation of unemployment data but it's obvious what they're doing.

Yeah, the numbers could have been jacked up to show that positive numbers. And even if businesses do re-open, their operating capacity should be obviously reduced to 50%. Two days ago, I go out and buy some groceries and I try to check out my favorite restaurants pre-pandemic. I don't see any of their regular employees, but new faces and I was under the impressions that they really reduce the numbers affecting those people that I know.

And those new faces perhaps are being paid less than the 'regulars'. So it will be difficult to reabsorb those who have been lay-off because jobs are scare in this pandemic.

Unemployment in the U.S. is on the rise, usually due to an outbreak of the virus Many companies are laying off workers because of the virus and cannot pay enough In that case the unemployment rate is increasing a lot. However, it will take a long time to recover Due to the disruption of the country's economy business and trade are closed so the owners of big companies are suffering from depression For this reason recruitment has been stopped for the time being.

That's the reality, but the question now is how can we survive with this crisis and how our economy will recover.
I know every country has different struggle now as it's an global pandemic and unfortunately no one assures that the vaccine will be available soon or this year.

We didn't expect this time would come as our economy was doing better before the virus, but whoever created it if it's really a man made virus, he/she succeeded on disrupting a global economy, hopefully it's not the end yet and we will continue to fight this challenge.

This situation is not only experienced by US but other countries as well. If they can't address this unemployment issue, what more of other countries that have weak economy? So I guess, this problem will slowly be resolved and not by any means will be addressed at short period of time. It would take years for everyone to get back on their feet, not only in the US.

I think the unemployment rates are correlated with corona numbers, as long as we are seeing rising number of corona cases also the unemployment will keep rising. But as soon as the curve is flattening again, or a vaccine is available for general population. The numbers should drop drastically.
People shifted their purchases of non essential goods into the future, so demand should pick up again once the outlook for the future is better.

Yes, i know that . We also suffer here in our country because of the pandemic . About the unemployment issue , i also agree with you . I've seen & heared news all over the world about it.And yes, it really took years to resolved that issue . All we need now is ,pray ,believe because step by step , courage ,unity for each and everyone of us we can overcome this unemployment issues .together.




Very well said . Let's just hope & pray that this pandemic will end soon and all will be back to normal.

People are forgetting that covid-19 is not just killing people but it also dangerously damage patients lungs. Some might never return to their old job simply because they will not be capable of doing it. Everyone that was hospitalised because of covid-19 is in danger of this. Everyone that was on intensive care and was lucky to survive will most likely not be able to do any hard work anymore. That will be permanent hit to the employment rate and only way to fight it will be to increase immigration.  Would love to see numbers of how many was hospitalised and how many were on intensive care in whole USA.

Such long term damage is only occurring to 2% or 3% of the patients. At least for now, the main concern is to prevent the deaths and to slow down the spread of the pandemic. We are very close to an effective vaccine against this virus, but it may take another 2-3 months to make this vaccine available in the market. At least for another couple of months, we may continue to witness an increasing number of new cases and more deaths from this virus.

Unless the US government succeeds in controlling the Coruna epidemic, there will be more fear and more job losses, so now we see an increase in the spread of the virus and an increase in the number of deaths and injuries.
The world's largest economy has fallen at an annual rate of 4.8 percent, according to official figures and it is the first time that the US economy has suffered since 2014. Since the start of the virus crisis, more than 26 million people in the United States have applied for unemployment benefits.
I think that the United States has a big problem, and despite the great attempts to restore the economy and return business to normal, this has led to an increase in covid-19 infections, and this may lead to imposing more embargoes, and thus the economy will be more affected than before.

Think about it this way, there are so many people infected, so many people dead, yet unemployment is still not back to where it was.

That is hundreds of thousands of people who would rather work that is out of the working numbers yet the unemployment rate is still sky high. I do not care if it is getting better, I do not care if it is going the right direction, if government gives 2 trillion tax break to companies, it should be very well finding jobs to people as well.

I as a non-USA person have been waiting for Americans to finally realize that USA is just a big company and the hatred towards "socialism" about every topic is plain wrong, not every governmental reach is socialism, just because health is free doesn't mean socialism, hitler's nazi Germany had free health care, Russian communist dictatorship had free healthcare, all sides could have free healthcare, it is just unthinkable in other countries, and that is just health, this "I just wanted 2 more billion dollars on top of my 5 billion profit so I fired 20 thousand people" mindset is basically punishable in other nations as well.

I think for the American people there is no need to worry too much because so far America has always come out victorious and can rise from adversity. The American government also provides a social safety net for unemployed with unemployment benefits.
https://www.visualcapitalist.com/charts-historic-u-s-job-losses-perspective/

In addition to the news three days ago, that the slow opening of the American economy in June absorbed about 4.8 million workers is a positive indication that America is starting to rise despite the surge in corona sufferers in some areas.
https://www.cnbc.com/2020/07/02/jobs-report-june-2020.html

no they dont forget it because that is the reason why people got sick and died , it starts with a simple fever that leads to lung infection later on  .

yes because life is more important than job and earning money . how can you work properly when your injured  ? not all are hospitalized and not all hospitalized are caused by covid .


why  ? this bugs me much .  that aint fun but all of us are hoping for the recovery of all those who hit by covid19 . your curiousity is strange buddy

I would like to share your optimism on American economy. Looking at what is happening on some of the States that were amongst the first to reopen like Florida, Arizona, Texas or even California (just to remember that Covid doesn’t care about the ruling party) showed the damage a top hurried reopening can bear as case rise and ICU usage.
That’s pretty scary in perspective.

That jobs created number is a tad deceptive. 4 things worth noting about the June data:

• There are up to 1.9 million more unemployed workers than reported, due to misclassifications.
• The number of unemployed workers is at least 12-14 million higher than February.
• The number of people working part-time for economic reasons (not counted as unemployed) is 4.7 million higher than February.
• The number of people who want a job but aren't considered part of the labor force (not counted as unemployed) is 3.2 million higher than February.

https://www.bls.gov/cps/employment-situation-covid19-faq-june-2020.pdf

When you put the numbers under a microscope, they aren't really worth celebrating considering the reopening is essentially over. It happened in May and June. We're probably not going to keep getting those kinds of boosts month over month, and still there is a giant chasm between the job market of today and that of 4 months ago. Even ignoring the prospects of further COVID-19 related shutdowns, it looks much worse than 2008.

This is not only the case in US. Unemployment rate across world will rise or is rising due to the pandemic and the lock down. Many small industries cannot survive this 3-4 month of lockdown or make payment to their staff. Hence the result is the removal of the staff. Big industries still may be able to retain their staff or may cut their salaries. But overall this year itself does not look good and just praying things get better as quickly as possible and vaccine could be found out quickly.

2-3% is not little. Well I am not sure 2-3% of what. Usually half of those that get on intensive care dies. So if there will be 200000 dead in USA they will also have additional 200000 that will country need to take care off, since they will not be able to do their jobs anymore.

Unemployment is one kind of curse for our society. Specially, for developed country, it will be burden. For the Middle income country, there is no chance to recover it very soon which is an easy task for developed country. Because, they have well planned infrastructure. So it is easy for them to create the opportunity for the mass people. In this pandemic, it is difficult for US to recover the unemployment

Everyone understands that reopening the economy creates fear and the reality is an increase in cases of sufferers. But the choice is in the American people who are believed by many people in the world as well-educated citizens. If the health protocol is followed and the American people are more disciplined I think the choice is not to the hospital.

Sometimes the American people are used as a reference by many individuals in the world and we in developing and poor countries think that the results will remain the same after Corona. America remains a winning country with many superpowers possessed by America.


Believe me, the pessimism felt by people in developing countries and poor countries is heavier than what is happening in America. In everyday life, I felt my colleague's savings had run low and depleted, even many of my colleagues did not send their children to school this year and had started selling their assets such as cars and motorbikes and gold jewelry.

Although the number is not significant in the eyes of the American people, it means that as many as 4.8 million people can breathe longer.

As of now it is not possible for me to give an accurate figure to you, because the WHO itself doesn't have a clue regarding the disease. Every week or so, they are changing their advisories and findings. As of now, we can only say that an unspecified number of those who were in critical condition would be facing long-lasting side effects. Right now it is not even possible to confirm whether these side effects are permanent, or they can be successfully treated.

Not saying i'm a fan of Trump administration but we all know about the current crisis and covid-19. Due to some travel suspension in all over the world it was totally expected to see some workers and employer lose their job during this time. After all, we are on the crisis period. Here the government can manage the the situation by giving some loans to the workers who can't do the remote job and support them by giving them discount card whenever they want to buy something specially food and cloth.
However, I believe if we didn't have the crisis Trump could brings much more employment chance for worker and decrease the rat of unemployment in US.

I've been trying to look at those statistics from a different point of view, rather than looking at unemployment numbers to look at people employed, basically (when) if we have the same number of employed people as in February it means the crisis will be over.

But, who the hell build that website, it has thousands of link databases, tables, graph but I can't find a damn stats on how many people were employed in January for example and how many now.. I've found how the percentage changed, how many hours, how many women, but where the hell is the data on how many were actually employed each month?

After some more digging I've found this:
https://www.bls.gov/web/empsit/cesbmart.pdf

So in December 2019, there were 151,961 thousand, now there are 137,802 .
That means a 10% loss in jobs, right? One in ten Americans who had a job is unemployed right now compared to last winter.

How bad were the numbers in 2008?

Do you have similar statistics for countries such as Italy and Spain, which were also affected by the pandemic. If you have stats from different countries, then it may be possible to know whether the United States is doing better or worse compared to the global average.

For the United Kingdom the employment rate stands at 76.4% for February-April 2020, when compared to November 2019-January 2020 figure of 76.5%. Only when we get the figure for May-July 2020 we'd know whether the pandemic had a serious impact on the employment rate there.

Nope can't find any related to Q2 this year , all of them show data from only Q1 or I'm really bad at gathering data, damn this heat ;D
Spain:
https://www.ine.es/dyngs/INEbase/en/operacion.htm?c=Estadistica_C&cid=1254736176918&menu=ultiDatos&idp=1254735976595
Italy:
http://dati.istat.it/Index.aspx?QueryId=29241&lang=en
France:
https://www.insee.fr/en/statistiques?debut=0&theme=20

Probably will have to wait one more week till we have the data

But, there is an article about Spain:
At 20m workforce with a job at the end of the year, it's about 4%.

I don’t live in the US, so take my statements with a pinch of salt, as they have been forged trough the lenses of the journalist I usually follow, and not on my first-hans knowledge and observations.

Trump administration did a very poor job in the US. True, POTUS has little legal power on this Issues, but US saw the plague coming from China and Europe, they had plenty of time to study and prepare, yet they thought there were a magic wall to protect them and took no action to prevent and limit the spread.

So I think this is the main fact for which Trump administration can be openly blamed.

Unemployment is on the rise, not just in the United States but around the world half a percent of the world's population will be unemployed as a result of the virus. Due to which there is going to be a financial crisis most people suffer from depression they are not afraid of the virus. The crisis caused by the virus will be overcome due to the closure of business the owners of the companies are being forced to lay off the workers due to which 80 percent of the economy of the country including various companies are becoming unemployed.

The world we know will see many changes in the coming period.
I have some friends who study from their homes in American universities and were told that the study should be transferred to affiliation within the United States.
rules have begun to change, and freedom of movement has become a dream, more restrictions are imposed and many poor people are getting poorer and the world is as it is not witnessing transformations or changes.

2020 is worse across the board but of course, there is reason for, and evidence of, a much faster recovery this time. The question is whether or how long that can sustain. Some charts for comparison:

https://i.imgur.com/dwvmNUd.png

https://i.imgur.com/OeaOROv.png

https://i.imgur.com/yEA5v5F.png

I think we need another quarter or two of data to get a real feel for how bad the damage is. It will take some time before we know the extent to which short term unemployment transforms into long term unemployment, and how sluggish the recovery of full-time (vs. part-time) employment will be.

When it comes to consideration of retail spending, GDP growth, inflation, etc. I think it's important to look at alternative measures of labor underutilization, not just official unemployment. The shrinking of the labor force (from people who have stopped looking for work) is concerning to me. When we have millions of former workers who are no longer searching for jobs (people who are scared to return to work because of COVID-19 fall under this group, so these numbers could sustain for a while) and millions of former full-time workers who have had their hours cut, this has real effects on consumer spending and the overall recovery. But those numbers are not captured by the official unemployment rate people tend to focus on.

It is not only in US but most of the countries are experiencing rise of unemployment because of the pandemic. It is sad to say that there are business that are now permanently close because of the bankruptcy andnthey cannot afford to cover all of their expenses.

Even though there is a recession, there are still opportunities out there and we should train our mind to see those opportunities that we should grab in order for them to have sources of income that they can use to buy their necessities. It is not new that there are some people who losses their job but their lives are now more good because they saw opportunities even though their is a crisis.

The suspension of the issuance of visas for highly skilled workers is a necessary measure. If we compare the risk from the imported virus and the shortage of professional workers, of course these are disproportionate . Now in a pandemic, we can do without additional labor. I think it is necessary to wait for the production of the vaccine and only then talk about the displacement of people from the rah countries. I think the unemployment rate in the US at the moment is no more than in all other countries. This is temporary.

This is true. Here in India, the pandemic is at its peak and most of the establishments are closed. Those who work in the IT industry have the option to work from home, but others are now jobless. And several areas with high rates of infection are currently under strict lockdown (containment) and no productive activity is allowed in these areas.

USA people are unfortunately brainwashed to think about the corporations before they think about people. They should remember that there are over 400 million people living in USA and only about 5 thousand companies that make insane amount of money, rest of the corporations do not make that much money and therefore can't bribe politicians and can't be bothered and could go bankrupt and nobody would care. It means there is 5000 companies that eat the whole crop of the nation while others are left to starve.

Yes, there was crisis, and yes there was crisis all over the world, but USA is the only nation that gave equal amount of money to corporations and also even some more in almost free loans versus giving something small to people instead. When you give 500b to companies and over 700b in almost free loans versus 500b to 400 million people, that is really not equals, and Americans unfortunately fail to see that. Thank god I am not an American so I can see the difference.

This pandemic has really brought a lot of changes in our lives not just in a negative way but some things have also brought to us positively. We may have lose our stable jobs nowadays seeing most of the establishments are now closed to prevent the rapid spread of virus but i guess lot of opportunities have opened online so we can comfortably work from home. This may not be very productive for us as we are used with our old stable jobs but i think what is happening is just temporary. Everything will be back to normal even the suspension of workers' visa once this pandemic has ended.

In arab countries also the condition is same, they are evacuating foreign people to give opportunity for their citizens.Yesterday a local media reported that 800K people lost their jobs in Kuwait and they will be returned to the native region in real soon.Most likely Indian are affected due to this visa cancellation because they are the people who work on every sectors of different countries.

Really? I cannot see Kuwaitian people get on the under-paid, insecure jobs Indian workers were taking care of in Kuwait, or in many countries in that regions.
Also in the US, mutatis mutandis the concept is the same. We are seeing a huge shift in the labour force, and people transiting in an out labour force in a way it will take more than a few quarters to fully understand.
All this while the SPX 5+495 is hitting new heights. Recipe for disaster.

In my country many people shift their businesses online and yet they are earning good with it especially with food deliveries and that's why people should find ways to gain even though their job stops for a while, they should not rely on their job waiting on when this opened and all get back to normal since as of now we don't know yet if we will experience this pandemic until next year. Let's hope scientist will find a good vaccine to end up this misery of all people around the globe.

Unemployment is inevitable because of the pandemic. Almost every country had that risk of unemployment and the United States is one of those countries. With the growing case of Coronavirus within their borders, it will really damage their economic status. They need to take effective steps that will really tackle the pandemic and hope that they take this steps seriously to not affect the employment rate of a lot of companies.

Also when there was a time of choosing between saving the lives of millions of people or saving the economy, he chose the economy over the lives of his people. On top of it to combat the unemployment I have heard that he won't be renewing the visas of the working class living there to make up space for more people who are unemployed in the US and are native US residents. Everyone knows that US is a superpower mostly because of the immigrants that come in search for a better job there.

Employment Rate already been affected due to this Pandemic, many countries records companies closing even the international companies that effects every country's employment rate, hopefully there will be a just to sustain the living of those been unemployed thru online jobs or like in my country were almost every one becomes a online seller with side effect of many networking companies appearing that needs to be examined the legitimacy.

Okay, but in USA as for employing foreign workers, I think the reason they are stopping that for now is to prevent people from bringing in the coronvirus to their country. They already have lots of cases and I think they are the country with the highest number of Covid19 cases. So inviting people from other countries where there are same cases, will only add to their problems at this time.
Countries still employ people to work for them remotely. I have worked for a few companies/small businesses in the US without stepping foot there. I was just at home delivering all the jobs they want me to do. So, that's how it is.

Many business establishments are shutting down not only in the US but almost all countries that have been badly hit by the virus, so where these people go? It probably they'll be added into the jobless people as don't have a job opening at this time.

Have to look at this one in Asia
https://i.imgur.com/nbAuWx8.png

It very unfortunate how this COVID-19 affects us and almost everyone had suffered especially for the poor people.

Coronavirus: Four out of five people's jobs hit by the pandemic.
https://www.bbc.com/news/business-52199888

Well, they don't have any other choice but to stop it and it is an advantage to at least prevent the continuous increase in number of infected people. But this is also a disadvantage for them since local worker fees is much higher that the foreign workers, we all know that they have cheap fees than the local one. There are lots of disadvantages but if this is the best thing they see right now, I think it is good enough to help the country to slow the increasing number of the covid 19 cases.

Unemployment is on the rise due to the economy being damaged due to the closure of trade with one country to another and the companies not being able to function properly However, US unemployment is much lower than in other countries. Being a strong country they have been able to recover the economy very easily.

We can't really blame the government for those lockdowns, it is necessary.

Since it is a pandemic, we can't really avoid those businesses being closed and people stuck in their houses unemployed. Also, US is not the only one, here in our country, unemployment is also exploding. The bad thing here is that the fresh graduates are waiting in line but since there are a lot of people that are unemployed , they will be competing with that and I think they are on the lower side since most of the jobs require experience.

Despite the positive June unemployment numbers, fear is growing that the recovery is tapering off and that the economy is just treading water. Lots of corporate fat trimming, layoffs, and plans for layoffs suggest a deflationary spiral could play out over the coming months.

https://www.bloomberg.com/news/articles/2020-07-11/five-real-time-charts-show-signs-economic-recovery-is-faltering
https://www.washingtonpost.com/business/2020/07/11/after-fastest-recession-us-history-economic-recovery-may-be-fizzling/


No, the Trump administration made very clear that it's about reserving jobs for Americans. This is the White House press release: https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-putting-american-workers-first-restore-economy-greatness/

There's unemployment because there are only few business industries that are opening at this time, and some even are not opening based on its full capacity since the word "social distancing" is necessary at this time.

It's very unfortunate especially those who only rely on their job for a living and they loss that job because of the pandemic.

We can use USA as a basis, if the unemployment rate increases, that would simply mean it's also happening in other countries, and maybe even worst.
However, it will not last, it will only be temporary as eventually our government will figure out to recover the economy despite of the pandemic.

So basically the rise of unemployment all over the world is normal because of the crisis that we still facing. The U.S is not only country that experiencing downfall but most of the nation who still have high cases of the corona virus are still suffering. Reopening of economy is important and that is why there are now some industries that are now operating again. For sure that the unemployment rate will become low as long as our economy is starting to recover.

No, not all industries will be allowed to open, of if they will, it would be not on full capacity, which means their income will reduce to half or even lower.
That's the sad effect of the corona virus, everyone is affected, people are losing job and hence we will struggle.



It would only be possible if the vaccine will be release, without the vaccine,the current scenario might become worst in the long run.

This is where we say “nothing is permanent”. My parents told me that when we had a cafe and resto business back then, which only lasted more than a couple of years. Same thing when we had an internet and gaming station for 2+ years too.

Look at Dunkin Donuts, Starbucks and other well-known businesses out there. They’ve permanently closed a lot of stores worldwide due to the COVID-19 pandemic. ABS-CBN, a broadcast giant in the Philippines, also have shut down as lawmakers choose to prevent from having a franchise renewal for another 25 years, and 11,000 employees are highly affected.

Not just applicable in the United States economy alone, as we are talking about global economic catastrophe. We’re in a recession, and it’s up to us on how we innovate or think outside the box to get back on track and start adopting to the “new normal” kind of money making opportunities (not those ponzi or pyramiding schemes).

US is not the only country that faces with rise of uneployment rate. Due to lockdown because of pandemic economy and businesses are having really hard times amd many companies don't need so many workers anymore. Unfortunately it seems that situation with unemployememt is getting worse.
Like many other countries US will also need nore time to recover and until that unemployment will rise. That might lead to very bad social situation, big number of poor people, possible riots and similar.

Don’t worry. These programs are coming, more than they are enacted by now, actually.
More brrr, more subsidies, more government spending, more deficits, more debt.
We are sending our balance sheets in an uncharted territory screwing future generations because of the greed of current bureaucrats.

Yes, they are the only ones benefiting from this.

This is not just USA neither, this is global. I do not really understand how economy works as much as some of you guys, but this increase in unemployment and poor people numbers do look to be increasing again. However what people are forgetting is yes we do have more wealth in the world right now that would be enough for everyone to at least live a survivable life, that is awesome and we should do focus on getting that eventually.

However, we should remember that just some period ago people were even worse, there was even more wealth gap, hell there was slaves not that long ago. So, we are not doing all that bad, yes we could be doing better that is for sure, but do not compare the world to what it could be, compare it to what it has become over years and you would be more optimistic.

It was a big struggle and headache for all the leaders in every country who have been facing the killing virus this time. It was just to say that the US isn't the only country that suffered the most as their unemployment rate increase but also from the others. We know how important to protect the economic status of our country but much more difficult if we just ignore the spread of the virus and just sacrifice the life of the people. The declining growth of the economy in almost all country have urge to cut some employees and bringing to that scenario. That was really hard but nothing to do it because it was also a big loss for the company if they still accommodate their workers.

Many country suffers but the main focus is on America since they have the most numbers of cases plus some of their citizens are not listening and following the protocols given by the government so expect that they will struggle if all will not cooperate. I have seen so many videos about self entitled people that they doesn't want to get quarantine and if this continue I expect that their economy will be much affected and the continuous numbers of unemployed will rise.

Unemployment is obviously on the rise in world not only in US but I feel politics is finding its play in depression. It looks like a conspiracy theory but the president is also not careful enough to take over all the system. It has degenerated to racism, economic destabilization and crime/shooting. It made it even difficult for the leadership to focus on the pandemic and other consequences, now he cant defend the meltdown nor have a good presidential campaign. 

That's it, but even with this small revenue as long as it contributes to the economy, that's already a big help for the government under the current situation. No giving up, or else we will all suffer and die, and let's continue to hope that this pandemic will be over soon so we can start living our life normally again, not saying everything will come back to normal easily, but at least we can work on it without fear anymore.


I believe on the news and I believe the experts will soon release the vaccine, we have suffered for months already and we can see the result, so the longer it will not be release, the more we will suffer and we can expect some bad effects on this, unemployment is just too visible now, how about crimes, haven't we thought of that also?

Before the spread of the corona virus unemployment had begun to increase, now America with the highest spread of the corona virus was certain
causing the number of unemployed to increase again. This is an issue that must be addressed immediately by the American government, I read the
article on the internet a few days ago there was a possibility that the American government would open up all industries to restore the economy.
That is news positive in my opinion, because there is no certainty when the vaccine will be found so it is better industry all industries immediately
reopened. Although the risk will remain, this is the fastest way to reduce unemployment and restore the economy.

Homeowners and the unemployed are benefiting handsomely. Unemployment has never paid this much. American workers are getting paid more to stay home than they get from their actual jobs. Mortgagees are getting up to 1 year off from paying their mortgages.

In other words, many millions of people who would otherwise be squeezed into foreclosure and/or would need to seriously curtail their consumer spending are getting a long term expenses paid holiday!

Imagine what would happen if all the unemployed homeowners actually had to liquidate to cover their mortgages, as would happen in an actual free market. The entire housing market would collapse! Then we'd see banks collapsing too.

This is how you prop markets up, ladies and gentlemen. :P

I agree there is a certain percentage of people actually benefiting from government programs. But I think the middle class as an aggregate is taking an huge hit from this crisis. Government program cannot be substitute for income of someone running independent business. Also larger inference of government in economy cannot be a good thing in the long run. More debt, is going to disrupt economy in the long run, either through default (very unlikely in case of US) or trough inflation (more probable).
Bitcoin fixes that.

Probably true. Small business owners have taken a walloping for sure.

I'm just annoyed by the bailout mentality. I've very responsible with my money, and I've been patiently waiting for years for housing prices to come down. In a free market, I believe they would, in a very big way. Instead, underwater homeowners keep getting all the handouts they could want for. They are already subsidized from every angle tax-wise, now they literally just don't have to pay housing costs if they say they can't because of COVID-19. All the would-be supply gets withheld from the market, and naturally the housing market keeps getting propped up into the atmosphere.

It's such a perversion of markets. This is the government picking winners and losers.

That's true, As of now the pandemic was still destroying our economy. There's a lot of establishments and businesses forced to close for their own safety and also for their employees. But the sad reality especially to those employees that are "no work no pay" they don't have a source of income and lack of liabilities.

 And if the number of unemployment are increasing the number of poverty are also increasing . It is hard  to live like you don't know where to go, what should we eat for the next days. I'm hoping and keep on praying that this pandemic will  end  soon.

This.
This is the worst long term effect of COVID.
The public sector is grabbing bigger and bigger share of the economy every day. They are putting distortions on every possible economic sector, and what it is worst is not they are only shifting winners and losers today, trough economic redistribution, but they are also picking winners an losers inter-temporally, trough massive deficits and debt. Today’s taxpayers (winners) are going to be paid by tomorrow’s taxpayers (losers).

There is no way they can address the unemployment problem first without solving or containing the pandemic problem. This comes one and two as the way I see it because they can't really force companies and their own government organizations to create new jobs even if they know it is unsafe to hire new workers. Generally if they want to solve the economy I think the best way to do it is by having a solution against the pandemic because they can't really have a normal economy when the pandemic is affecting them all.

Yes, I agree. Because USA was number 1 in the word's pool, having the most highest infected cases of Covid-19. As it get worst each day, job loss and other losses in many forms happened. And its not only happening in America, this unemployment issue is all over the countries in the world. I think the Government would consider some best option to provide jobs and help the people. Like here in my country, many individuals losses their jobs from the start of lockdown until now...but the Government provides a thousands of Contact tracing jobs and frontliners jobs just to make sure that people could still earn for a living amidst of this crisis.

I support the idea of suspending the visa for now, all eyes have seen what is going on and we should have learnt. Let them face there country for some moment until it is safe enough to resume it. US has to be very careful so as not to carelessly lose their power. Loss of employment is almost everywhere the pandemic reached and what most of the countries need now it to build back their economy first, even countries like mine Should think on properly attending to exit and entry,even if you don't have anything atleast protect your citizens.

Another day, another data. Today unemployment figures came in lower since March, but higher than expected by markets.
This means the recovery is going to be slower than expected, and that probably the ramifications of the pandemic are more deeply rooted in the economy than initially thought. Only time will tell, but the risk is more disruption ahead.

unfortunately, the longer it takes for us (as humanity) to come up with vaccine, the longer it will take to recover overall economy of the world

What numbers are you talking about? We won't get the July numbers from the BLS until the beginning of August. Do you mean the 1.3 million new claims filed last week?

Honestly it's hard to read much into the weekly numbers in a vacuum. We don't know how many new jobs have been created or furloughs ended over the same period, or maybe more importantly, how the BLS will decide to fudge the numbers to lower the official unemployment rate next month.

Whether it's reflected by heightened part-time work for economic reasons (can't find full-time jobs), discouraged workers (can't or won't work and therefore removed from the labor force), or the actual official unemployment rate, the true job numbers will take years to recover. There is no doubt in my mind. Anyone still talking about V-bottoms is smoking some very strong stuff.

The poors/plebs like us lose jobs, be more poor, and be on welfare. The rich are given very large bonuses, and be richer.

If you have not changed your social and political views, then you are stupid.

https://pbs.twimg.com/media/Ec4larKWkAI1RvH?format=jpg&name=large

Hope things will change sooner because I know how America struggling now,and people needs help not only the richer but the Poor instead.
check mate,because even around the world because unemployment is really growing and growing.

i must admit my country is also in this same situation now,Help us God.

Not surprising tbh. It happened everywhere and would probably continue happening in the near future. Not to mention that illegal vendors placing their stores are being strictly checked now mostly due to the government having no choice but to do so mainly because of health measures. Not to mention the unemployment, even small to medium businesses are suffering basically because the government has failed to support any type of that sort of business right now, which they should really be doing imo. 

It's amazing how some issues actually take up the majority of the attention after the possibly worst wave of Covid happened. It's like the problem that's supposed to be topic #1 for meetings became an afterthought, mostly because they really have nothing they believe they can do anymore.

I believe NOTHING will change, not 1,000 years before then, not now. We are lucky to have Bitcoin as a back up in case another global economic crisis/monetary instability happens to us again.

There is no question that the US economy will surely be hit hard by millions of jobs lost. At that time, the impact will be very large on production services and many services that need other people, which will make thousands of businesses suffer losses and cannot recover. If the US situation cannot stop covid 19 soon, their country will soon have an economic crisis and surely we will be severely affected. I just hope that people are more aware of the corona virus prevention room so that everyone can return to normal life.

of course, most countries experience the same effect from Covid-19, unemployment continues to increase because all activities have been restricted, causing some companies to temporarily close their production, even many who are bankrupt so they cannot provide wages to their workers. Likewise, the role of government is quite complicated in dealing with the economy and welfare of its people because they are not fully focused on preventing this virus but must work harder to combat this pandemic and must be able to balance social life for all people affected by this pandemic

It is still important to keep safe and away from the virus. I know it really that hard when one could not get enough food to eat due to loss of job. Unemployment is already a big problem even before the pandemic started. As long as we were able to survive though it is really that hard then I can accept it rather than getting infected by the virus. Hopefully going back to the real normal situation will be sooner right after vaccine wi be made. Thre news is that vaccine coming from russia will be put into test into human. Let juat hope that it will be successful.

 If the US President think that it will help to reduced the transmission of covid 19 virus,then it will be good as long as the government can sustain the needs of all people. But this can have a huge effect in most business establishment and it will also lead to the economy going down. Hoping that every leader of every country can have a knowledge to stop the pandemic because not only US are increasing the unemployment rate.

Covid19 has claimed the lifes of thousands in America soil, The amount of vacant positions that would arise because of that will be outnumbered more than her citizens.

I hope after all this "covid19'' and finding the vaccine. The American government will be able to give out open visa's to citizens from other countries that wants to work in America

This is never going to change the rich will always find a way to bribe those with political power or get that political power for themselves and convince them that letting them fail is going to be bad for the economy, then they are rescued and use all of that money to pay themselves huge bonuses only for their businesses to eventually crash and the people now have to pay for the rescue while having no jobs, even if a reset happened you can be sure this is going to happen again as the players will change but not the game.

What does this image suggests?

https://media-exp1.licdn.com/dms/image/C5612AQEDVKn19lyf4g/article-inline_image-shrink_1000_1488/0?e=1600905600&v=beta&t=dwVhHplu7vtdIL368cEmZlrG3tqdfarDIjHo7tspf00

We are after the "Economic Downturn" and "Money Printing Phase"

You know what is coming next.

Source: a very nice article by Ray Dalio.

Chapter 4: The Big Cycle of the United States and the Dollar, Part 1 (https://www.linkedin.com/pulse/chapter-4-big-cycle-united-states-dollar-part-1-ray-dalio/)

Vacant position for what, if it's about the job, then for sure there will be people who will fill that, the unemployment rate which is high is already enough evidence that there's no job for everyone.


That depends on the government, but I think they'll prioritize their citizen first to solve the increasing unemployment rate, Trump is always vocal that american should be prioritize in their own land.

There are really people who got affected because of the unemployment rates, actually my uncle is part of those unemployment rate rises because he loses his permanent job because of the pandemic and he is now thinking on how his family survive. There are a lot of people are now suffering because of the unemployment rate and there are affect to our economy for sure. The world economy collapsed but it is now recovering, if there will be a vaccine that will be available in the market; for sure that we will back into our lives.

Unemployement rate has risen in all around the globe.
Coronavirus hit all industries - especially the tourism industry significantly and a lot of people lost their jobs due to lockdowns and social distancing facts.
The US will not have high rate imho. They didn't do a long term lockdown as other countries did.

The US is not the only country experiencing the issue of unemployment due to this covid-19 pandemic because there are also lots of countries who are currently on the same scenario. I think it is not appropriate to say that the president of US is prioritizing the case of unemployment because it was a real deal that business establishments must be temporarily close amid with the existence of the pandemic so that people most specially workers will not get infected by the virus since they can be prone to transfer the infectious disease working on the field with many workers together in a work place.

Many countries are doing the same thing and it is one of the ways possible to be done to protect many people from the threat of the covid-19. The rise of the unemployment rate of US will not be an advantage because it is actually a burden and other countries do also think like that because the economy will be down and citizens will just rely their needs from the government because they have nothing to earn and spend for their daily necessities.

Surely the economy of US will be affected on getting their high skilled workers unemployed because they were the ones who are making the economy lively and productive. Their loss in the work field will directly affect US economy but they still have nothing to do because it is an important action needed to be done to keep the people safe. But as of the moment, other countries are executing the "new normal" set up wherein workers can now get back to work following strict health protocols and minimal working capacity to exhibit physical distancing. I guess if this would happen to US, the rate of unemployment would be lessen for there would be workers that can now get back to their works.

I am sorry for his situation and I hope they recover well but they should be getting some money from the government for their troubles, right? Because I am very sure I was reading an article that clearly mentioned that people in US will be getting a good sum of money per month to maintain the economy.

I don't think the economy is recovering as you mentioned, I don't agree with it because the situation is just getting more and more out of control. I mean people had some savings and they survived initial lock downs but now everyone is getting in a situation where they don't have much money to survive being locked in their place and have to move out for work.

It is not surprising that even US who is one of the biggest and richest country in the world experience the same thing that other countries do also have which is the latest issue of the rise unemployment rate that is due to the existence if this pandemic. Actually it is not literally the want of the government to make the workers jobless at times like this but it is a necessary response and action that is needed to be done to help lessen or to stop the spreading of virus since there is a lot of potential that this infectious disease can be transferred on a work place that does not exhibit physical distancing on a normal scenario.

For sure the US economic states is seriously affected by this unemployment of many people for they were the one of the keys why an economy works and progress. With no man power, the flow and production of goods and services will become dull and dead which will have a negative impact and that would be reflected as the economic declination of the US. It is not really the government's intention to do such thing but for the sake of its people's safety, maybe people would think it as a cruel action but it is a must thing to do to save people's lives since US is still leading with the most number of cases and high death poll.

Good thing that WHO and health officials have suggested a "new normal" approach to somehow get things back to normal but on a limited capacity to exhibit social distancing and this would let business establishments to operate that would give people opportunity to get back to work and this can lessen the rate of unemployment during this pandemic.

Quite a gloomy prognostication! What kind of timeline do you put on this cycle?

I don't disagree in theory, but the system seems quite adept at sustaining itself longer than expected. At this point, most market participants still have a very strong interest in maintaining stability.

Despite all the consequences that the United States is facing due to the coronavirus pandemic, I have no doubt that America will cope with all the problems. Of course, the economic crisis and unemployment has its negative impact on the overall situation in the country, But unlike other countries, in the United States of America, in my opinion, the government and state structures work like clockwork, supporting not only business, but also people. Perhaps I do not see the full picture of what is happening, because I live in Ukraine, where the economic situation is much more complicated, although the problem with the coronavirus is lower in percentage terms. Nevertheless, we are much worse at coping with the situation than the United States.
In addition, one of the main government decisions is to reduce the number of Ostarbeiters from other countries in the United States in order to provide as many jobs as possible for the citizens of the country.

This graph is not mine, but from a series of articles by Ray Dalio. I linked it just below the post.
The message has more to do with the scheme, the sequence of events, rather than the power of the empire (the height of the graph) or the lifespan of the empire (the length of the arc). In the article Ray puts the beginning on the US ARC at the beginning of the XIX century,  right after the  American Revolutionary War, while the tops is just after WWII. Hence you could extrapolate a little bit, even if I don't think the velocity across the arc is required to be constant.
As I repeated many times, defaults happen slowly at start , then all of a sudden.

First things is, we all know that the pandemic was not caused by those who has been there,or those who may be told to step back. I'm sure they will have to step down those with lesser impact while those worker with key functions will be retained. This action is in 2ways by me.Technology would be allowed to take up more functions. It may have a little down effect on the economy but for a short time. The government are also not to be blamed because this virus needs to be drastically curtailed by all necessary means.

It is difficult to imagine for people a world where the US is not the only superpower but that only shows the lack of historical awareness that people have, all previous empires that at some point were the most advanced and developed around the world have fallen and I do not see why the US will be different, this does not mean a complete fall it just means that another nation will over take them and switch positions with them and right now the most likely candidate seems to be China.

The $600 per week emergency unemployment benefits are set to expire in a few days. Republicans are aiming to pass a reduced version (cutting back payments by roughly 2/3) but they are delaying introduction of the bill until next week, and surely negotiations will take another few weeks.

I get the feeling they want use the benefit expiration to squeeze the unemployed into taking jobs they don't want. Then they'll pass another stimulus package with reduced benefits. https://www.washingtonpost.com/business/2020/07/24/unemployment-benefits-congress-coronavirus/

Regarding direct stimulus payments, the Treasury Secretary says they are planning on the same thing as March. Another round of $1,200 payments. Whenever the bill passes, it should boost the markets.

It's a long long journey before China can shift the US position as a great power. China temporarily only dominates trade and finance. In the next few years, the world demography will change where China will get karma due to birth control policies that were imposed from 1978 to 2015. The demographic crisis and the increase in the elderly community in the future is a break in China's hopes of continuing trade domination.

The US remains mighty with currency domination, military dominance, influence dominance, and political dominance. This is what distinguishes between great power and superpower. The US has superpowers, that is, the integration of power so that it has a great influence on the world.

Lock down is not a good thing to do right now, unless the government always try to give more stimulus to make their economic going to better, although that is the risky thing to do. This virus has given many impact for all sector and for all countries, I don't know if there is a country who didn't hit the corona virus. Unemployment is increasing not only in the US but by the countries that have cooperation (in economic terms) with the US.

If you mean quarantine, then quarantine and complete isolation will kill the economy completely, while the entire population of the country will not only be depressed, but starvation will begin, as well as an increase in crime, which cannot be allowed. The government must act more sensibly. It is necessary to maintain certain quarantine measures, but allow the enterprise and small business to work at full strength, but for each person to wear personal protective equipment, while all places of mass gathering of people, including public transport, must also impose certain restrictions on the number of people and on distance between them, while providing decontamination facilities for all of its customers. These precautions will make it possible to reduce the number of unemployed in the country, maintain a stable economic recovery and at the same time prevent the spread of the coronavirus.

The problem on the rise of the unemployment rate is not just the problem of US because I think almost all of the countries affected by the pandemic do also share the same issue. Well, it was not a new issue to hear anymore because it is really an expected effect of the pandemic on which the government have to do something to control the spread of the virus and that includes the temporary closure of work places, business establishments and public places in order to control the spread of virus because those stated are vulnerable for the wide spread of virus.

The government will not do such an action for nonsense. We all know that many are directly affected by the loss of their jobs because of that implementation but it is the best thing to do as of the moment so that there will be no more further damage that will cost lives. Although the economic state of the country will be affected most specially US is known to be one of the richest and largest country in the world, the president have no choice but to temporary close down establishments even if it will make the unemployment rate to rise because if will not do such, the number of the cases on which they are the one who is leading will just continue to rise.

But after a couple of months of lockdown, I guess US is slowly reopen their business establishments following the recommendation of the WHO to exhibit strict health protocols which I guess is a good thing because it will make job opportunities and that would lessen the unemployment rate of US.

As detailed in below article, US unemployment rate is right now worse than The Great Recession, which officially lasted from December 2007 to June 2009.

Unemployment rose higher in three months of COVID-19 than it did in two years of the Great Recession (https://www.pewresearch.org/fact-tank/2020/06/11/unemployment-rose-higher-in-three-months-of-covid-19-than-it-did-in-two-years-of-the-great-recession/)

You bring some good points and I am aware of the demographic crisis that is coming to China due to their policies however there is also the possibility that once US happens to fall out of their spot as the only superpower around the world that no country takes its place and instead we are left in a world with local powers that cannot extend their power as far as we have been used during the last centuries, this could be a huge change and we will see how countries adapt to this new hypothetical reality.

Well, if we look at history, China has always been a superpower, bar the last 200 years, as they completely missed the industrial revolution that boosted western economies. As this brief parenthesis is going to close, they are now ready to regain their superpower status. They are ruling their economic influence sphere (naval power in the China Sea), they have a massive army and weapons. let alone economic power, or R&D in future technologies, when Chinese students will have good enough research institute that will allow them to stay in China instead opf fleeing to the US universities.


Spot on. This is actually the only long term effect that can massively hurt the efforts made in the last 30 years. Keep in mind that welfare in China is basically non existent, and that when the population pyramid will be inverted (less youth to maintain a large portion of inactive population) the situation could quickly implode.

For the lulz

https://pastebin.com/raw/QR5uruuC

Unemployment is rising all over the world due to the corona effect. The unemployment rate in the United States has reached 14.6 per cent. In April alone, 20 million people lost their jobs in the country. Businesses and factories are being hit by complete or partial shutdowns due to global lockdown. The top economies in Europe are Germany, Britain, France, Italy and Spain. Unemployment is on the rise in these countries as businesses are closed due to lockdowns and restrictions on human movement. However, the governments of different countries are trying their best to prevent layoffs.

I hope you don´t mind me posting this, but here a video from te Business Insider that shows the other side: https://www.youtube.com/watch?v=aoR5sniTnv4

Also makes me wonder how China never faced these problems because they were the first victim of covid-19 and they should be shattered by now but instead they are only ones who look positive towards normality, because USA was considered to have the biggest and best economy and if they dropping like that, what is the real reason behind other economies not falling as much. I know everyone is going through worst times but how come US being the worst hit nation when they have even offered schemes to pay citizens a fixed amount, I am sure there was a bill or something like that.

The way US has been ruined by this pandemic makes me wonder is actually US had a solid economy or they just hide their vulnerabilities to make themselves look strong. I also think some poor decision making is also responsible for the fall of economy though.

its been in the world now that unemployment is really serious matter its been so many companies and factories are closing,businesses stop operation maybe for a while but maybe  permanent.

But US is the most infected and they maybe the most to suffer.
Thanks interesting video lol.

There are simply too many factors to enumerate, however the response to the pandemic that the United States has implemented has been very troubling, even if the pandemic started in China the response of the government was decisive, massive testing and massive restriction of movement of their citizens, since China is not really a democratic country their citizens are used to this behaviour from their government and in this case this was an advantage, but in the case of the United States their citizens are used to be given as much freedom as they want and many simply did not observed the precautions necessary to stop the expansion of the pandemic and that is why they had been hit so hard by it.

Very true.
The Economy they were focusing on, namely the stock market, was already decoupled from the real economy. The highly capital intensive american firms (banks, hi tech in the first place) weren't able to trickle down their success in the real economy (bar San Francisco tenants, of course).
Unemployment running at historical minimums and payrolls report from BLS positive since a decade were also hiding slack labour force and partial hiring.

The pandemic toppled this precarious equilibrium, and pushed the two economies in a exploding wedge: while common people was made even poorer, the rich became even richer.

Who to blame? of course the central bureacts, who weren't even able to prepare for the pandemic arrival: they saw it in China, they saw it spreading in Europe, but they weren't preparing, thinking a magical wall would protect them. When the reality hit, they were slow to respond.

The difference between other nations having unemployment and USA having it is the fact that USA suppose to be economically a world power, we calculate oil prices, bitcoin prices and even gold prices in dollar most of the time, USA has such a huge military that next 26 country combined do not have the same power, so all in all you look at USA as a powerful nation.

When that nation fails so miserably that over 40 million people is said to be unemployed, that is a staggering number that is making all other nations question if USA is actually a powerful country or not. Not even joking, if you asked me would I want to be a USA citizen 10 years ago, I would say yes, but after seeing 2019-2020 and what they did, I kind of realized that I would rather stay in my own nation.

But if we study history, many fantastic stories about American success will be found because the winner who always writes the story is not the loser. America is a country that has superpowers like the stories of its superhero figures. America can change the great depression into a winner of the second world war that became the forerunner of America as a world hegemon. America controls energy (oil) to control many countries, America controls food to control people, America controls gold and currency to control the world and America controls health to control life.

Almost in all lines of America the price maker while other countries even though large producers are only price takers. America is a great country. But unfortunately, because of its strength, America was made a proxy by shadow groups to dominate the world. In addition, Trump has a personal agenda in leading America, so that uncertainty is increasingly visible.

The United States is being a victim of their own success it is very well known that when a very powerful country remains that way for a long time their industry begins to leave the country as the wages they have to pay become very high and not competitive compared to the wages they have to pay in other countries, this creates an exodus of its industry to other countries and converts the economy of this powerful country in a service economy which is way more susceptible to these kind of events than an economy that is based on producing things like China.

It was predictable that current unemployment in the US could occur due to the Covid19 pandemic.
Prevention measures were not applied in time to avoid infections and those that were took were not the most successful.

IMO, it will no longer be the same for the countries of the world and in the current crisis unemployment will be very high and the USA will apply the necessary policies for the labor protection of its citizens.

Ideally for all of us, we should have a cure for coronavirus soon.
While the other countries are fighting against the pandemic.

China is free from Covid19. Excellent!
Now China is offering $ 1 billion loans to Latin America and the Caribbean to access its covid19 vaccine.
 
https://www.cnn.com/2020/07/23/americas/china-billion-vaccine-latin-america-coronavirus-intl/index.html
 (https://www.cnn.com/2020/07/23/americas/china-billion-vaccine-latin-america-coronavirus-intl/index.html)

Whether it is the truth, I believe China is hiding or it isn't revealing the truth to the outer world. When the entire world is suffering, and the one from which it got its beginning is free of covid-19 is something miraculous. Countries are much into the development of the vaccine for covid-19, and if China had found the medicine. It might have marketed it to profit big out of the prevailing situation.

up until now, we dont know the truth behind this virus. but China should make an effort how to help other poor countries once this vaccine is available. not many can afford this vaccine if they will spend out of their pockets. and a lot of these governments cant accommodate all its citizens for this vaccine. unemployment is everywhere, not only in the US. so let's look for other options on how to generate income for our family and how to save ourselves from financial troubles.

Truth, slow and poor decision making of the government made it worse. Its not even a talk about how rich is a country is. Have you seen third world countries surviving? It exists, better handling, fast decision making, better contract tracing, and a government who really cares for its people will survive. Kind of sad its not happening in my country as well, its getting worse. We are so slow in fighting the virus, now we face a recession, without flattening the curve as well.

Now look for news about how the president of the US fights the virus. Somehow you'll understand why.

Most likely we are never going to find the truth about what happened, but I do not really think that China is hiding the vaccine or something like it and that is why they are free from the coronavirus, I think they are showing to the world their strength, they can build hospitals in a matter of days, their citizens did not protest against the measures taken by the government to restrict their mobility and they were very aggressive in the way they tested anyone that was suspicious of getting the virus and to try to cure them, and I think this is a sign of the things to come.

The real point is that the situation is not improving fast enough: initial jobless claim have been slowing since the terrible numbers in March (7 millions new jobless claim in March) , but still are hovering around the 900k mark. Unemployment rate is not going south as much as expected on the next quarter (it was at 13% on last reading) declining only to 8.2%.
If the US want to steer their economy away from socialism (US private income is already 25% government provided), they have to fix it as soon as possible.

COVID-19 is the main cause of unemployment in America increasing, this of course must be resolved as soon as possible. If not, there will
be other problems that will have a bad impact on the American economy. The first step provides a stimulus to the unemployed to buy daily
necessities. Because if a lot of Americans go hungry it will make crime increase. After that the American government slowly reopened several
business sectors that could increase state income. Actually, the two steps that I mentioned have already begun to be taken by the American
government, unfortunately according to the news I have read, there are still people of America who violate health protocols, so the spread of
the corona virus continues to increase.

A country that generates jobs from services and jobs from large companies. They went through a pandemic and production and service activities were halted, people lost their jobs.
It is necessary to repel the pandemic before America will have a chance to reduce unemployment. It will take at least two years to bring the unemployment rate down to as low as before the pandemic.

That is what this Pandemic brings us,and not only in small countries but also in superpower countries like US and EU.

depend on how each country will react to the situation and how the people will cooperate,2 years is the longest time but maybe 1 year or bellow can also be indeed.

I think in the US the situation is far worse, given the imbalance between the capital and the workforce. How much workforce the first 5 company of the SPX do have on their payroll? Few. The vast majority of workforce is occupied by the small business, who are now facing the hard reality of the crisis, while the bigger firms gain more and more advantage because of the capital they can put at work.

Only when the epidemic is completely pushed back will the US economy develop again. The US economy is driven by industry and services. As long as partner countries are also experiencing an epidemic, they cannot export to these countries. The industrial and service working environment require a large concentration of people, so it is easier to spread diseases. Recession will last until there is a vaccine for the world. The big economy has a more complicated way of doing things, the US is on a downtrend.

There simply cant be same employment as before when virus is still circling in population. China that tackled virus in 3 months was able to get back fast and had fast recovery. Other countries that failed at tacking covid-19 will just have to wait for vaccine. Hopefully will be here a year from now if not we will see huge unemployment then.

It's a pandemic, it's the whole world that's being affected by this virus. A little by little, some countries are opening their borders and making their economies lively again as they can no longer survive if they will continue to shut down their own economies through lockdowns. There is no choice but to reopen the businesses and get back in the schedule again. Those who have lost their jobs, if they can no longer go back to their employment, they have to look for a new one or get some side hustle.

The rise of the unemployment rate within a country is really an alarming case/issue that reflects how the economy has been struggling because it is now failing to give out job opportunities for the people to keep them productive and being able to gain an income for their own. It is duly understandable that unemployment rate will rise up amid with the existence of pandemic because business establishments and other work places are undergoing cost cutting or lessening of excess loads and man power that cannot be covered due to the fact that many businesses are still into the process of recovery and having lots of workers will be a hassle for payment. Employment or sprouting of possible work opportunities are far beyond impossible to come by this time because of the pandemic and it is clearly not just US is experiencing that but as well as into the other countries that are stuggling and suffering all due because of the negative impact that this pandemic have brought.

Economic openness is just one of the reasons. Look at Asian countries, they handle their problems.
You need to understand in the above comment that I only mentioned that America needs to export to its partners. So your comment was wrong with the topic I covered.

The pandemic is still going on, and still nothing changes, given on the examples I've seen in the news on how most of the US citizens handles the pandemic,


https://www.pewresearch.org/fact-tank/2020/09/21/americans-give-the-u-s-low-marks-for-its-handling-of-covid-19-and-so-do-people-in-other-countries/ (https://www.pewresearch.org/fact-tank/2020/09/21/americans-give-the-u-s-low-marks-for-its-handling-of-covid-19-and-so-do-people-in-other-countries/)

I can say that it will still rise. They have their own name of freedom where they mostly don't care about the people around them, thus disregarding the use of face shield and face mask in public. Also the fact that their leader believes in unimaginable measures to stop the spread of covid 19, and the undeniable support from his people do always amaze me.

Only the completion of vaccine will save their economy at this state that I am seeing.

I know the economy of a country is very important and because of the crisis all the countries in the whole world face a huge loss in their economy and the biggest reason is the employment, as we all know many companies choose to close down and many overseas workers decide to go back in their home country and to lessen the spreading of the virus almost all countries decide to stop accepting workers from different countries.

Let's face it until this virus is present and no vaccine has been invented the economy of all countries will not be the same and maybe become more worst especially for the people of those countries, so stay safe and live longer

It's been months since we are in lockdown, I disagree that there is no changes, maybe our country varies but there should be an adopted way of living amidst the pandemic and your government should have work on that during this time. There have been reopening of businesses in cities, job opportunities produced online and online classes/work. That's the change that I'm talking about.


I've watched many videos in America showing their citizens belittling the pandemic, they don't wear mask or any protective gear and they are shouting their freedom. Here in my country? go out without face mask and you'll be fined as high as $2000.

The opening of borders by some countries had resulted to resurgence of second wave in some European countries, pushing people out after lockdown without properly taking absolute measure and stiff compliance with covid-19 protocols was responsible of the second wave, While a lot of people had protested against government restriction is adding insult to injury, this is a trying time for many countries as a result of this pandemic, economic recession, lost of jobs, business running into bankruptcy e.t.c

Overseas workers need to go home because they have no choice to stay in their respective country of serving.
the virus is spreading the world mate and that is common that the whole world is experiencing this same issue.
i hate this but happening so we need to be on that.
let us face this but we need to comply to what government is  telling us,this is the world when people needs to cooperate.

In some countries, going out without a mask or a facial shield is a punishable offense. But in the US, it depends on the state government. The restrictions vary from state to state. The federal government hasn't imposed any nation-wide restriction upon now. So in a sense, what these people are doing is not an offense. In my country, it is mandatory to wear a mask while going out and I think that is the correct approach.

Maybe its not an offense in the government but for us who knew what is the right thing to do even without the government asking us it is an offense because thats the only think that can protect us while were outside, they're not in their right minds for they're willing to trade theur safetiness for freedom.

Were in the middle of pandemix right now so it is very understandable to have unemployments specially those coming from different countries, its for the better because doing so can just spread the virus more and that will just make economy crumbles more so unemployment is one of things we need to do in order to lessen spread and being more caurious about the virus.

Increase in population can really affect the unemployment rate. As a matter of fact, population has an impact to economy, one good example of which are poverty and unemployment.

Rapid increase in population means there's a rise in labor force. Many people are going to look for a job. Some are qualified while others are not. Hence, leading to increase in unemployment rate of a country.

There are also cases that most people tend to accept below minimum wages because they're desperate to get a work to have an income to feed their families. There are also a lot of job mismatch happening all over the world. Many people happen to be on the same field, but no more positions are available, leading them to find another job even though it doesn't fit to their finished degree.

I think it's quite alarming especially now that we're in the midst of a pandemic. However, the state could always make a way to solve rise in unemployment little by little. They could make some kind of livelihood programs and open government works for those who are qualified and actively looking for a job.

Everywhere mask usage is much strictened. In my state within a day's time more than $200000 has been collected as fine for not using masks. Maybe in the coming days USA will strict the usage of masks as Trump has tested positive for covid-19 and has begun to use mask. He hasn't been using mask and also once stated that he won't use mask.

The report on unemployment comes out every month in USA, there was decline in unemployment rate in September (7.9%) from August (8.4%), compare with the unemployment rate at the dippiest of the Pandemic in April (14 %). Almost 700k jobs were added in September alone



https://www.ncsl.org/research/labor-and-employment/national-employment-monthly-update.aspx

The point is that numbers are not picking up fast enough. There is an high auto-correlation in employment numbers. To put it differently: there is an higher chance for business that didn’t hire recently, not to hire the next month. This is why a strong and fast rise in employment number is crucial.

I lile to read these threads to see what other people think on unemployment.  I don't think the hardest part is here yet.  Businesses have tried to stay above water but we are at the 6+ month mark, the next 6 months are going to be very telling.  One because the winter might bring more cases of covid and tightening of openings are very possible and 2 loans/credit/ etc to keep these businesses open will start to deplete and if things don't ramp up quickly they are in trouble.  I hope I'm wrong but have a wierd feeling I'm not. :-\

This is not a mistake because experts say that the spread of the corona virus will increase this winter. Despite rising unemployment in the United States there are plans to lock down the rest of the world. Two months of winter may lockdown again. the United States will be able to fix everything very soon even if unemployment rises due to a lot of improvement their country's economy is very prosperous.

I Dont think it is appropriate to use word such us "locking Down the world" because we have different government and position.
Like in our country when the Lock down has already done and now we are living in semi normal situation.
there will never be another lockdown since the virus is flattening the curve.

we are just waiting for the release of the Vaccine to kill totally the virus,though the count of infected is still climbing we believe that we can take this down by next year.

That's right, but looking at how the covid situation is evolving I believe many businesses will slowly think to prepare for a long term depression. This might translate into few new jobs and lots of dismissals. And I am not taking into account that hyperinflation could soon kick in even in the West. For those who have a few bitcoins that will be the time to understand how fortunate we have been to got into it in the first place.

This is the point. COVID was not a temporary effect on the economy. But a permanent distortion that will hinder for many years the growth of economies, also given the heavy burden of the debt we are playing off today.

And in fact, those who recognized this in advance have been able to buy good performing assets at the right time during the big March sell-off. I am so glad to have been able to buy some bitcoins in that period. We will never see those prices again.
Going back on topic, my thinking is that covid was the perfect storm for a complete economic reset (which I am definitely afraid of, since those in charge before the storm are still driving the boat).

Good for you if you were able to buy some bitcoins during the last fall, as yes, probably this pandemic will act as a catalyst for a dramatic change. The only thing I hope is that the passage won’t be too painful for too many.

Have to agree here. The pandemic has caused the bankruptcy of a number of businesses of all sizes. And this is after generous stimulus packages by the governments. Just imagine what could have happened, if the stimulus was not there. Certain sectors, such as aviation and hospitality are completely destroyed. The losses are so huge, that I don't think they'll ever recover.

Stimulus: the more the better according to Jay Powell:

 Fed’s Powell Says U.S. Faces ‘Tragic’ Risks From Doing Too Little to Support Economy (https://www.wsj.com/articles/feds-powell-says-u-s-faces-tragic-risks-from-doing-too-little-to-support-economy-11601995201)


This is an interesting article, also noting an asymmetrical approach: while doing to little can be very dangerous for the economy, the same is not true for doing too much.

I agree with you, as long as the corona pandemic is going it's very hard to make predictions for the future. If we have to fight in the next few years with corona than it's very likely we will see a long lasting depression. But if we get vaccines for everybody in 2021 I don't see a reason why the economy wouldn't pick up again. Growth is always depending on the expectations of the future and we need a solution for corona to be really optimistic about the future. 

The fact is that until now the vaccine has not been confirmed to be effective even though it has started to be mass produced by Russia and China.  Without a vaccine, the US economy will be overshadowed by a prolonged recession and worsening unemployment in the US.  A genius leader in the field of economics is needed to steer the country's economy away from the recession.

Don't be so sure. Even without the vaccine, the US economy is recovering, albeit at a slow pace. The job figures for September shows that the unemployment rate has gone down. If an efficient vaccine becomes available in the market sometime soon, then we can expect the economy to rebound at a good pace. But until then the recovery will continue, at a reduced speed.

Failure to produce will result in no jobs, no services, and no consumption. A series of consequences from businesses shutting down during a pandemic. It makes the economy go down markedly. From production to service is a domino line, a large part of the labor force comes from the service industry.
It is clear that during the pandemic many businesses have ceased operations and it has a major impact on the US economy. If the pandemic continues, the economic recession and unemployment will become even more severe.

It's all brief everything becomes fine it's incident in my nation as well.
A lot of businesses are getting terminated because of the COVID and many people lost their jobs.
Let this infection get vanish then we'll perceive how soon life becomes too ordinary.

Apart from certain sectors of the economy such as aviation and tourism, the other businesses have resumed operation. Vaccines may not be available in industrial scale for another 6 to 9 months. I don't think that it is logical to shut down the economy for another 6-7 months. We need to get on with our normal routine, while taking the necessary precautions. So we can't wait until "the infection gets vanished".

I don’t know where you got your statistics from, but the reality for many western countries is very different from that picture. COVID damages are far from healed, and in many sectors, I hardly doubt it will be enough to wait for 5 years.
Longer, If we include in the damages the gargantuan amount of new debt in our economies.

The impact from COVID 19 will be there for many years to come. But that doesn't mean that we should shut down our economy and stay at home. The economy needs to be restarted. As you said, many of the businesses are in huge debt, and closer to bankruptcy. If they don't do business, then the owners will slip further into debt and this situation is not going to benefit anyone.

Unemployment increases due to many reasons and one of them is poor economy, shortage of industries and the increment in populace. When populace expanded there were more individuals and when more individuals realized they have to be going to college there was a parcel more colleges made and there was a part more taught individuals. Presently which means there's a part more attorneys than required, there are a parcel more specialists than required, there are a part more engineers,doctors,MBA holders  than required, But can’t find the best place to serve. I think people move to crypto and improve skills in crypto beside the professional degree.

That would not help a lot of people, crypto is not as big as the industries of the world where they hire a lot of people to work, crypto is not yet stable and there's no massive adoption yet, therefore job offering is not that big as in the actual world.

The reason for the increase of unemployment is the struggling economy, why? it's because of the pandemic, and therefore we need to solve the problem in order for our economy to slowly get back to its glow.

Have to agree here. US and the European countries are in a very bad state. Most of the EU nations are under strict lockdowns, and the United States is reporting around 3,000 deaths per day from COVID 19. Many of the small businesses are already bankrupt (despite the stimulus) and those which haven't closed down are under enormous strain from new debt. Maybe in the Asian/African nations it is the other way around.

The only solution I can think of is the vaccine, people are restricted in their movement, they cannot go and do what they want to do that is related to their job and they need to stay home most of the time, if we have the vaccine the restriction will vanish and everyone can practice their job because they are free to move and to communicate face to face.

In our country, the employment rate has risen during the lockdown but since the new normal focuses on E-commerce and virtual jobs, many have found another source of income online. Despite the pandemic, people will always look for ways to survive. I believe that we'll continuously adopt the new normal and we'll all know how to grab the new opportunities that the situation could offer.

With such large and sudden disruptions to employment, there isn’t time for the economy absorb all the unemployed into other jobs or for people to retool to the new economy. The economy has always changed and people (on a macro scale) have always adjusted, but it’s always been slow and gradual. The mass unemployment we see now is the result of the scale and doors of the disruption, and there are no easy fixes to that.

Unemployment is a curse and if it is in US, then there has something behind it. But in my country, it is quite normal thing to live as unemployment or below poverty level. In US, people want their satisfaction rather than other thing and maybe government failed to serve the enough employment. Like, anyonenyone wants to become a lawyer, there are no open slots currently then that person will not take any job normally and then it will be considered as unemployment due to enough resources.