Rise in US unemployment. Thoughts?

[Negotiation]

it will even out once country reopens reason is because all stuff closed and ten no way to work, and stupid lockdowns

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.

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[Janation]

it will even out once country reopens reason is because all stuff closed and ten no way to work, and stupid lockdowns

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.

[exstasie]

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/

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.

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/

President Donald J. Trump Is Putting American Workers First as We Restore Our Economy to Greatness

President Donald J. Trump is extending and expanding the suspension of certain visas through the end of the year to ensure American workers take first priority as we recover from the economic effects of the coronavirus.

President Trump’s efforts will ensure businesses look to American workers first when hiring.

Many workers have been hurt through no fault of their own due to coronavirus and they should not remain on the sidelines while being replaced by new foreign labor.

[Botnake]

it will even out once country reopens reason is because all stuff closed and ten no way to work, and stupid lockdowns

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.

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.

[Savemore]

it will even out once country reopens reason is because all stuff closed and ten no way to work, and stupid lockdowns

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.

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.

[Russlenat]

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.

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.

For sure that the unemployment rate will become low as long as our economy is starting to recover.

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

[cheezcarls]

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

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).

[bitbunnny]

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.

[fillippone]

Looks like that like in 1930 we need big gov programs to fight unemployment again

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.

[coinfinger]

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.

[Kelvinid]

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.

[arwin100]

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.

[royalfestus]

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. 

[Botnake]

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.

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.

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.

For sure that the unemployment rate will become low as long as our economy is starting to recover.

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

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?

[Shasha80]

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.

[exstasie]

Looks like that like in 1930 we need big gov programs to fight unemployment again

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.

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.

[fillippone]

Looks like that like in 1930 we need big gov programs to fight unemployment again

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.

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.

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.

[exstasie]

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.

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.

[Kawins05]

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.

[fillippone]

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

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).