Rise in US unemployment. Thoughts?

[Negotiation]

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.

[Botnake]

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.

[Twinkledoe]

https://www.theguardian.com/business/2020/jun/18/us-unemployment-claims-rise-coronavirus-economy-latest

Base in this website almost 45 million peoples are filling unemployment in a past three months , and that is the big struggle in US. US still find a cure and maintain the health protocol to secure a country but we dont know the time can US recover this pandemic.

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.

[Mauser]

https://www.theguardian.com/business/2020/jun/18/us-unemployment-claims-rise-coronavirus-economy-latest

Base in this website almost 45 million peoples are filling unemployment in a past three months , and that is the big struggle in US. US still find a cure and maintain the health protocol to secure a country but we dont know the time can US recover this pandemic.

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.

[chrisculanag]

https://www.theguardian.com/business/2020/jun/18/us-unemployment-claims-rise-coronavirus-economy-latest

Base in this website almost 45 million peoples are filling unemployment in a past three months , and that is the big struggle in US. US still find a cure and maintain the health protocol to secure a country but we dont know the time can US recover this pandemic.

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.

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.

https://www.theguardian.com/business/2020/jun/18/us-unemployment-claims-rise-coronavirus-economy-latest

Base in this website almost 45 million peoples are filling unemployment in a past three months , and that is the big struggle in US. US still find a cure and maintain the health protocol to secure a country but we dont know the time can US recover this pandemic.

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.

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

[Febo]

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.

[Vishnu.Reang]

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.

[yhiaali3]

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.

[sana54210]

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.

[abhiseshakana]

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.

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

[imstillthebest]

People are forgetting that covid-19 is not just killing people but it also dangerously damage patients lungs.

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  .

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.

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 .

Would love to see numbers of how many was hospitalised and how many were on intensive care in whole USA.

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

[fillippone]

<...>
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

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.

[exstasie]

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

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.

[glowing10]

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.

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.

[Febo]

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.

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.

[Majharul Saiif]

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

[abhiseshakana]

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.

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.

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.

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.

[Vishnu.Reang]

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.

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.

[Leviathan.007]

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.

[stompix]

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

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

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?