Rise in US unemployment. Thoughts?

[Vishnu.Reang]

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

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.

[1715010412]

1715010412

[stompix]

~

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.

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
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:

But despite help from the ERTE furloughing scheme, the labor market has lost 760,000 jobs since the beginning of the coronavirus crisis

At 20m workforce with a job at the end of the year, it's about 4%.

[fillippone]

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 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.

[Salauddin1994]

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.

[Antinass]

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.

[exstasie]

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?

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:







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.

[KnightElite]

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.

[Freeesta]

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.

[Vishnu.Reang]

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.

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.

[davinchi]

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.

[Kasabus]

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.

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.

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.

[mersal]

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.

[fillippone]

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.

[ultrloa]

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.

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.

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 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.

[mezzaluna]

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.

[stiffbud]

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 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.

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.

[dimonstration]

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.

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.

[tbterryboy]

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.

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.

[Yamifoud]

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


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

[angrybirdy]

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.

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.

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.