Rise in US unemployment. Thoughts?

[ampu]

Only when the epidemic is completely pushed back will the US economy develop again. The US economy is driven by industry and services. As long as partner countries are also experiencing an epidemic, they cannot export to these countries. The industrial and service working environment require a large concentration of people, so it is easier to spread diseases. Recession will last until there is a vaccine for the world. The big economy has a more complicated way of doing things, the US is on a downtrend.

It's a pandemic, it's the whole world that's being affected by this virus. A little by little, some countries are opening their borders and making their economies lively again as they can no longer survive if they will continue to shut down their own economies through lockdowns. There is no choice but to reopen the businesses and get back in the schedule again. Those who have lost their jobs, if they can no longer go back to their employment, they have to look for a new one or get some side hustle.

Economic openness is just one of the reasons. Look at Asian countries, they handle their problems.
You need to understand in the above comment that I only mentioned that America needs to export to its partners. So your comment was wrong with the topic I covered.

[1715461686]

1715461686

[1715461686]

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[Natsuu]

The pandemic is still going on, and still nothing changes, given on the examples I've seen in the news on how most of the US citizens handles the pandemic,

People in other countries overwhelmingly believe the U.S. has done a bad job dealing with COVID-19.

Most Americans say the U.S. response to the coronavirus outbreak has been less effective than that of other wealthy nations.

https://www.pewresearch.org/fact-tank/2020/09/21/americans-give-the-u-s-low-marks-for-its-handling-of-covid-19-and-so-do-people-in-other-countries/

I can say that it will still rise. They have their own name of freedom where they mostly don't care about the people around them, thus disregarding the use of face shield and face mask in public. Also the fact that their leader believes in unimaginable measures to stop the spread of covid 19, and the undeniable support from his people do always amaze me.

Only the completion of vaccine will save their economy at this state that I am seeing.

[MickLichz]

I know the economy of a country is very important and because of the crisis all the countries in the whole world face a huge loss in their economy and the biggest reason is the employment, as we all know many companies choose to close down and many overseas workers decide to go back in their home country and to lessen the spreading of the virus almost all countries decide to stop accepting workers from different countries.

Let's face it until this virus is present and no vaccine has been invented the economy of all countries will not be the same and maybe become more worst especially for the people of those countries, so stay safe and live longer

[CarnagexD]

The pandemic is still going on, and still nothing changes, given on the examples I've seen in the news on how most of the US citizens handles the pandemic,

It's been months since we are in lockdown, I disagree that there is no changes, maybe our country varies but there should be an adopted way of living amidst the pandemic and your government should have work on that during this time. There have been reopening of businesses in cities, job opportunities produced online and online classes/work. That's the change that I'm talking about.

I can say that it will still rise. They have their own name of freedom where they mostly don't care about the people around them, thus disregarding the use of face shield and face mask in public.

I've watched many videos in America showing their citizens belittling the pandemic, they don't wear mask or any protective gear and they are shouting their freedom. Here in my country? go out without face mask and you'll be fined as high as $2000.

[gabbie2010]

Only when the epidemic is completely pushed back will the US economy develop again. The US economy is driven by industry and services. As long as partner countries are also experiencing an epidemic, they cannot export to these countries. The industrial and service working environment require a large concentration of people, so it is easier to spread diseases. Recession will last until there is a vaccine for the world. The big economy has a more complicated way of doing things, the US is on a downtrend.

It's a pandemic, it's the whole world that's being affected by this virus. A little by little, some countries are opening their borders and making their economies lively again as they can no longer survive if they will continue to shut down their own economies through lockdowns. There is no choice but to reopen the businesses and get back in the schedule again. Those who have lost their jobs, if they can no longer go back to their employment, they have to look for a new one or get some side hustle.

The opening of borders by some countries had resulted to resurgence of second wave in some European countries, pushing people out after lockdown without properly taking absolute measure and stiff compliance with covid-19 protocols was responsible of the second wave, While a lot of people had protested against government restriction is adding insult to injury, this is a trying time for many countries as a result of this pandemic, economic recession, lost of jobs, business running into bankruptcy e.t.c

[rodskee]

I know the economy of a country is very important and because of the crisis all the countries in the whole world face a huge loss in their economy and the biggest reason is the employment, as we all know many companies choose to close down and many overseas workers decide to go back in their home country and to lessen the spreading of the virus almost all countries decide to stop accepting workers from different countries.

Overseas workers need to go home because they have no choice to stay in their respective country of serving.
the virus is spreading the world mate and that is common that the whole world is experiencing this same issue.
i hate this but happening so we need to be on that.

Let's face it until this virus is present and no vaccine has been invented the economy of all countries will not be the same and maybe become more worst especially for the people of those countries, so stay safe and live longer

let us face this but we need to comply to what government is  telling us,this is the world when people needs to cooperate.

[bryant.coleman]

I've watched many videos in America showing their citizens belittling the pandemic, they don't wear mask or any protective gear and they are shouting their freedom. Here in my country? go out without face mask and you'll be fined as high as $2000.

In some countries, going out without a mask or a facial shield is a punishable offense. But in the US, it depends on the state government. The restrictions vary from state to state. The federal government hasn't imposed any nation-wide restriction upon now. So in a sense, what these people are doing is not an offense. In my country, it is mandatory to wear a mask while going out and I think that is the correct approach.

[Maroons]

I've watched many videos in America showing their citizens belittling the pandemic, they don't wear mask or any protective gear and they are shouting their freedom. Here in my country? go out without face mask and you'll be fined as high as $2000.

In some countries, going out without a mask or a facial shield is a punishable offense. But in the US, it depends on the state government. The restrictions vary from state to state. The federal government hasn't imposed any nation-wide restriction upon now. So in a sense, what these people are doing is not an offense. In my country, it is mandatory to wear a mask while going out and I think that is the correct approach.

Maybe its not an offense in the government but for us who knew what is the right thing to do even without the government asking us it is an offense because thats the only think that can protect us while were outside, they're not in their right minds for they're willing to trade theur safetiness for freedom.

Were in the middle of pandemix right now so it is very understandable to have unemployments specially those coming from different countries, its for the better because doing so can just spread the virus more and that will just make economy crumbles more so unemployment is one of things we need to do in order to lessen spread and being more caurious about the virus.

[AicecreaME]

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.

Increase in population can really affect the unemployment rate. As a matter of fact, population has an impact to economy, one good example of which are poverty and unemployment.

Rapid increase in population means there's a rise in labor force. Many people are going to look for a job. Some are qualified while others are not. Hence, leading to increase in unemployment rate of a country.

There are also cases that most people tend to accept below minimum wages because they're desperate to get a work to have an income to feed their families. There are also a lot of job mismatch happening all over the world. Many people happen to be on the same field, but no more positions are available, leading them to find another job even though it doesn't fit to their finished degree.

I think it's quite alarming especially now that we're in the midst of a pandemic. However, the state could always make a way to solve rise in unemployment little by little. They could make some kind of livelihood programs and open government works for those who are qualified and actively looking for a job.

[AjithBtc]

I've watched many videos in America showing their citizens belittling the pandemic, they don't wear mask or any protective gear and they are shouting their freedom. Here in my country? go out without face mask and you'll be fined as high as $2000.

In some countries, going out without a mask or a facial shield is a punishable offense. But in the US, it depends on the state government. The restrictions vary from state to state. The federal government hasn't imposed any nation-wide restriction upon now. So in a sense, what these people are doing is not an offense. In my country, it is mandatory to wear a mask while going out and I think that is the correct approach.

Everywhere mask usage is much strictened. In my state within a day's time more than $200000 has been collected as fine for not using masks. Maybe in the coming days USA will strict the usage of masks as Trump has tested positive for covid-19 and has begun to use mask. He hasn't been using mask and also once stated that he won't use mask.

[ololajulo]

The report on unemployment comes out every month in USA, there was decline in unemployment rate in September (7.9%) from August (8.4%), compare with the unemployment rate at the dippiest of the Pandemic in April (14 %). Almost 700k jobs were added in September alone



https://www.ncsl.org/research/labor-and-employment/national-employment-monthly-update.aspx

[fillippone]

The point is that numbers are not picking up fast enough. There is an high auto-correlation in employment numbers. To put it differently: there is an higher chance for business that didn’t hire recently, not to hire the next month. This is why a strong and fast rise in employment number is crucial.

[wheelz1200]

I lile to read these threads to see what other people think on unemployment.  I don't think the hardest part is here yet.  Businesses have tried to stay above water but we are at the 6+ month mark, the next 6 months are going to be very telling.  One because the winter might bring more cases of covid and tightening of openings are very possible and 2 loans/credit/ etc to keep these businesses open will start to deplete and if things don't ramp up quickly they are in trouble.  I hope I'm wrong but have a wierd feeling I'm not.

[Dorodha]

This is not a mistake because experts say that the spread of the corona virus will increase this winter. Despite rising unemployment in the United States there are plans to lock down the rest of the world. Two months of winter may lockdown again. the United States will be able to fix everything very soon even if unemployment rises due to a lot of improvement their country's economy is very prosperous.

[btc78]

This is not a mistake because experts say that the spread of the corona virus will increase this winter. Despite rising unemployment in the United States there are plans to lock down the rest of the world. Two months of winter may lockdown again. the United States will be able to fix everything very soon even if unemployment rises due to a lot of improvement their country's economy is very prosperous.

I Dont think it is appropriate to use word such us "locking Down the world" because we have different government and position.
Like in our country when the Lock down has already done and now we are living in semi normal situation.
there will never be another lockdown since the virus is flattening the curve.

we are just waiting for the release of the Vaccine to kill totally the virus,though the count of infected is still climbing we believe that we can take this down by next year.

[Karartma1]

The point is that numbers are not picking up fast enough. There is an high auto-correlation in employment numbers. To put it differently: there is an higher chance for business that didn’t hire recently, not to hire the next month. This is why a strong and fast rise in employment number is crucial.

That's right, but looking at how the covid situation is evolving I believe many businesses will slowly think to prepare for a long term depression. This might translate into few new jobs and lots of dismissals. And I am not taking into account that hyperinflation could soon kick in even in the West. For those who have a few bitcoins that will be the time to understand how fortunate we have been to got into it in the first place.

[fillippone]

The point is that numbers are not picking up fast enough. There is an high auto-correlation in employment numbers. To put it differently: there is an higher chance for business that didn’t hire recently, not to hire the next month. This is why a strong and fast rise in employment number is crucial.

That's right, but looking at how the covid situation is evolving I believe many businesses will slowly think to prepare for a long term depression. This might translate into few new jobs and lots of dismissals. And I am not taking into account that hyperinflation could soon kick in even in the West. For those who have a few bitcoins that will be the time to understand how fortunate we have been to got into it in the first place.

This is the point. COVID was not a temporary effect on the economy. But a permanent distortion that will hinder for many years the growth of economies, also given the heavy burden of the debt we are playing off today.

[Karartma1]

The point is that numbers are not picking up fast enough. There is an high auto-correlation in employment numbers. To put it differently: there is an higher chance for business that didn’t hire recently, not to hire the next month. This is why a strong and fast rise in employment number is crucial.

That's right, but looking at how the covid situation is evolving I believe many businesses will slowly think to prepare for a long term depression. This might translate into few new jobs and lots of dismissals. And I am not taking into account that hyperinflation could soon kick in even in the West. For those who have a few bitcoins that will be the time to understand how fortunate we have been to got into it in the first place.

This is the point. COVID was not a temporary effect on the economy. But a permanent distortion that will hinder for many years the growth of economies, also given the heavy burden of the debt we are playing off today.

And in fact, those who recognized this in advance have been able to buy good performing assets at the right time during the big March sell-off. I am so glad to have been able to buy some bitcoins in that period. We will never see those prices again.
Going back on topic, my thinking is that covid was the perfect storm for a complete economic reset (which I am definitely afraid of, since those in charge before the storm are still driving the boat).

[fillippone]

<...>
Going back on topic, my thinking is that covid was the perfect storm for a complete economic reset (which I am definitely afraid of, since those in charge before the storm are still driving the boat).

Good for you if you were able to buy some bitcoins during the last fall, as yes, probably this pandemic will act as a catalyst for a dramatic change. The only thing I hope is that the passage won’t be too painful for too many.

[Vishnu.Reang]

This is the point. COVID was not a temporary effect on the economy. But a permanent distortion that will hinder for many years the growth of economies, also given the heavy burden of the debt we are playing off today.

Have to agree here. The pandemic has caused the bankruptcy of a number of businesses of all sizes. And this is after generous stimulus packages by the governments. Just imagine what could have happened, if the stimulus was not there. Certain sectors, such as aviation and hospitality are completely destroyed. The losses are so huge, that I don't think they'll ever recover.