Rise in US unemployment. Thoughts?

[Harlot]

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.

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.

[Heart18]

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.

[TIDOVEE]

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.

[fillippone]

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.

[Pandji02]

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

[exstasie]

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.

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.

[Wind_FURY]

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.

[kotajikikox]

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.

Hope things will change sooner because I know how America struggling now,and people needs help not only the richer but the Poor instead.

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. 

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.

[Wexnident]

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.

[Wind_FURY]

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.

Hope things will change sooner because I know how America struggling now,and people needs help not only the richer but the Poor instead.

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.

[chip1994]

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.

[radjie]

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. 

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

[erikoy]

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.

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.

[Blackrain13]

 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.

[Onuohakk]

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

[South Park]

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.

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.

[fillippone]

What does this image suggests?



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

[mirakal]

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.

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.

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

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.

[TitanGEL]

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.

[Naida_BR]

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.