Rise in US unemployment. Thoughts?

[AniviaBtc]

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.

"No matter how you slice it, this is shaping up to be a big win for American workers at a critical time," said RJ Hauman

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.

But plans for the order have already raised significant concerns among business and industry groups, as well as universities who depend on foreign workers and scholars.

The order would, however, make broad exceptions for travel in the national interest, including in the areas of economics, public health and national security.

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

[jackg]

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.

[exstasie]

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...

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

It does not apply to H-2A agriculture workers who Trump says are necessary to ensure grocery store shelves remain stocked with fruits and vegetables. Health care workers involved in treating coronavirus patients would also be exempt.

The order would make broad exceptions for travel in the national interest, including in the areas of economics, public health and national security. The U.S. State Department will review and approve these applications on a case-by-case basis.

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.

[stompix]

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.

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

The number of H-1B petitions approved increased 16.9 percent from 332,358 in FY 2018 to 388,403 in FY 2019.

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.

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)...

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.

[Hateculd75]

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.

[FanEagle]

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.

[fillippone]

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.

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?

[sheenshane]

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.



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.

[exstasie]

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.

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 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

On the institutional side, we estimate that enrollment for the next academic year will drop by 15%, including a projected decline of 25% for international students, resulting in a revenue loss for institutions of $23 billion.

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.

[Lorence.xD]

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.

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.

[fiulpro]

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.

"No matter how you slice it, this is shaping up to be a big win for American workers at a critical time," said RJ Hauman

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.

But plans for the order have already raised significant concerns among business and industry groups, as well as universities who depend on foreign workers and scholars.

The order would, however, make broad exceptions for travel in the national interest, including in the areas of economics, public health and national security.

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

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.

[BitcoinTurk]

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.

[chip1994]

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.

[Kong Hey Pakboy]

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.

[Krabby]

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.

[ethereumhunter]

Why all this fear?

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.

[atjiat]

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.

[Alert31]

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.

[Axelseseclevz]

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.

[Harlot]

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.