The number of jobless people has crossed one million in US - worrying sign?

[Juggy777]

I was scrolling through the news and suddenly read that the number (claims) of jobless people in US had crossed 1.1 million, and in my personal opinion this is bad news for the US economy which is already struggling to bounce back from Covid19 effects.

Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.

What do you’ll think is it right to say that the US V shaped economy won’t recover this year, or it’s only matter of few months before it recovers?.

While polls suggest that voter approval of his handling of the economy remains relatively strong, Democrats are blaming him for the crisis.

Source:

https://www.bbc.com/news/business-53852315?intlink_from_url=https://www.bbc.com/news/topics/c1038wnxypvt/us-economy&link_location=live-reporting-story

[1715587614]

1715587614

[1715587614]

1715587614

[1715587614]

1715587614

[1715587614]

1715587614

[Upgrade00]

The fall in unemployment levels some weeks ago was due to the premature easing of lockdown, this meant businesses could open back up and staffs could return to work, but the numbers of infected people kept rising and businesses were forced to shut down, meaning the jobs regained were again lost. It was a band-aid strategy to cover the situation and not a solution to tackle the current economic crisis.

A V-shaped economic recovery is unlikely. The pandemic was handled poorly by the U.S government, and as the numbers keep rising, more businesses would close up, less money would circulate, more money would be printed to stimulate spending, inflation rises and the economy keeps contracting; The recovery time would take much longer, even if an effective vaccine was eventually discovered, probably U-Shaped, with a wide base line.

[teosanru]

After a few days of Coronavirus the unemployment rates in US rised to around 20% but after a few days the charts neutralized and went to 10% again but I thought that number was manipulated by the US government to show a great picture for the upcoming elections. Now once again number has risen to around 12% which obviously means US is in great trouble again. But truth is that this was bound to happen. No corporation would pay you if they are not getting any profits. No government can do anything about it.

[Yatsan]

That was seriously alarming to think that the number of unemployed people in US have already reached more than a million all due because of the existing covid-19 pandemic that have caused the business establishments, offices and other workplaces to temporarily close for awhile to prevent the further spread of the virus that can be potentially gained on places where there is a large scale of working people sharing on a working area.

For sure not only US is experiencing that thing because honestly here in our country around 42% of people are unemployed because of the same reasoning. This is bad because this drag down the productivity rate of the country which also pulls out and brought economic declination in our country. At that rate the US and even other countries facing the threat of pandemic, we have nothing else to do but just to follow the "new normal" approach to somehow lessen the rate of unemployment since business establishments and other work places are already allowed to get back into operation but just for around 30 to 50 percentage working capacity that is already good to somehow boost up to progress the economic state of the country and help some people to get back to work minimizing the amount of jobless people.

[audaciousbeing]

I was scrolling through the news and suddenly read that the number (claims) of jobless people in US had crossed 1.1 million, and in my personal opinion this is bad news for the US economy which is already struggling to bounce back from Covid19 effects.

Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.

What do you’ll think is it right to say that the US V shaped economy won’t recover this year, or it’s only matter of few months before it recovers?.

While polls suggest that voter approval of his handling of the economy remains relatively strong, Democrats are blaming him for the crisis.

Source:

https://www.bbc.com/news/business-53852315?intlink_from_url=https://www.bbc.com/news/topics/c1038wnxypvt/us-economy&link_location=live-reporting-story

The opposition would continually blame the party in power no matter how well he has done. It's one of their cardinal duty as an opposition party because that is a key component of them ensuring that the ruling is kept on their toes and also to market themselves for the next election. So their own opinion at this point is more political than reality.

A million unemployment rate is massive forms country like the US but in the real sense it's still doing way better than most countries across the world battling with the menace of Coronavirus and the economy is not expected to be in full gear just yet.

[mersal]

I doubt these numbers are true, as per the report of May almost 10% of US population lost their jobs which means 30+ millions people are jobless due to this corona virus.And yes this is really worrying sign but the stimulus has been a little relief for those people but for in long term there will be crisis in the growth and this is going to reflect in the upcoming presidental election in US.

[plvbob0070]

The increase in the unemployment rate is not only visible in the US but also in other countries who are still struggling with the rapid increase in COVID cases. It might worsen if the situation remains until the last quarter and I think it will be hard for the economy to recover while there's still a lot of new cases. But for sure, once the vaccine is already available, the US can recover from the decline they are facing right now.

As for political views, there will always be two sides, the one who's not satisfied with the performance and the once who still believe with the administration's capability in handling the pandemic. Now it's up for the people who will vote in the next election, and I think this crisis is a big lesson for everyone.

[Coyster]

I doubt these numbers are true, as per the report of May almost 10% of US population lost their jobs which means 30+ millions people are jobless due to this corona virus.

That was back in May (during total lockdown). After the lockdown, the U.S. added millions of jobs back and people could return to their jobs, even in my country, people who were initially layed off were called back when businesses opened and their employers started generating income from the company. You cannot compare the unemployment rate of March, April and May with that of now, things aren't too good now, but they aren't as bad as back then either, the economy is active now, it was shut then.

I'm not surprised the numbers filing for unemployment benefits in the U.S. is going above 1 million, we're not out of the pandemic just yet, and the economy is bound to suffer from the effects of the total lockdowns earlier this year, it's inevitable, but with time more jobs will be created/reopened and the curve will continue to go down. But then there's prolly an Inflation approaching after all the money printed this year alone.

[dimonstration]

Many countries been affected by the pandemic but it doesn't mean that we will blame the  government about the situation, no one forsee it coming but we need to determine whether the government is truly doing ways to find effective solution to control the virus while maintaining the economy. What we can do is to follow and help now then just decide next election.

Unemployment may increase but sometimes it can be for their safety, some of those unemployed now might be in airlines company or services that needs too much crowd. There is a need to weigh between safety of the employees or money. The lesson here is every individual should be prepare next time to have emergency funds or other sources of income. In my country now many unemployed find ways to do small business based in their skills.

[Oasisman]

V shape recovery is very much unlikely seeing a massive number of employment in the USA, and the positive cases of Covid are still increasing.
I have read an article stating a national budget from $600, $400, down to $100 budget per week for the qualified citizens (mostly those who are devastated by the pandemic financially.) Let's say they'll approve the $100/week times the number of unemployed citizens.
That's roughly $1,100,000 per week excluding the expenses for medical purposes.

IMO, this isn't the time to blame anyone, instead this is the perfect time to help each other to overcome the financial and health challenge.

[Xembin]

Many are blaming, the president for the economic mess US is currently facing.more than a million of unemployed in US,because of the covid-19 lockdown , many business have be affected because of the existing Corona virus, many organizations has been closed down, unemployed increasing every day by day.

[AmoreJaz]

Many countries been affected by the pandemic but it doesn't mean that we will blame the  government about the situation, no one forsee it coming but we need to determine whether the government is truly doing ways to find effective solution to control the virus while maintaining the economy. What we can do is to follow and help now then just decide next election.

Unemployment may increase but sometimes it can be for their safety, some of those unemployed now might be in airlines company or services that needs too much crowd. There is a need to weigh between safety of the employees or money. The lesson here is every individual should be prepare next time to have emergency funds or other sources of income. In my country now many unemployed find ways to do small business based in their skills.

that is my point here. not only US is suffering from unemployment of its people but around the globe. i dont think it is fair that someone will blame their government about this unless, they are just sitting and not doing their job to alleviate the problem of its people. the aftermath of virus is still here and will be for long time. but it doesnt mean we will not do something about it and just rely on our govt. because thats a stupid move. we need to help ourselves even on our small ways that we know of. because blaming the Pres or the govt is not a solution to this crisis!

[cryptomarcianos]

I think with the roads now open to "Agenda 2030" it is more natural that people will loose more jobs and everything will get automated.

[AniviaBtc]

Loss of jobs can really worsen the economy, how?

Due to unemployment, people will not have any budget to buy their necessities during this pandemic and that will affect the market.

If people doesn't have money to spend, then the demand for those goods will decrease. The economy will struggle so hard if unemployment continues to occur, but what can we do if the health and lives of our people are at risk when they go outside just to work for themselves. Health is the most important thing in life so as soon as possible we should prioritize it and take care of it.

But famine will also be the next problem with unemployment.

[arwin100]

Many countries been affected by the pandemic but it doesn't mean that we will blame the  government about the situation, no one forsee it coming but we need to determine whether the government is truly doing ways to find effective solution to control the virus while maintaining the economy. What we can do is to follow and help now then just decide next election.

Unemployment may increase but sometimes it can be for their safety, some of those unemployed now might be in airlines company or services that needs too much crowd. There is a need to weigh between safety of the employees or money. The lesson here is every individual should be prepare next time to have emergency funds or other sources of income. In my country now many unemployed find ways to do small business based in their skills.

that is my point here. not only US is suffering from unemployment of its people but around the globe. i dont think it is fair that someone will blame their government about this unless, they are just sitting and not doing their job to alleviate the problem of its people. the aftermath of virus is still here and will be for long time. but it doesnt mean we will not do something about it and just rely on our govt. because thats a stupid move. we need to help ourselves even on our small ways that we know of. because blaming the Pres or the govt is not a solution to this crisis!

Actually those blaming the government in times of pandemic have a bad agenda on the administration, we experience that here since despite of the efforts given the critics didn't credit anything and they are just waiting to see a single mistake and used it for bad propagandas.

Lets get back to the US topic and I really think they wi suffer badly here and provably they will struggle to regain back by this year since even up till know we don't really know on when the vaccine will became available and this is the only hope waited by the governments around the globe so that we can resume our normal life without worrying about disease or anything.

[davis196]

Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.

Trump has nothing to do with the economic mess caused by the lockdowns and the pandemic.
On the other hand,Trump is completely helpless and unable to stabilize the economy,because the fiscal and monetary stimulus packs are pretty much wasted and more stimulus packs might lead to problems with the US foreign debt and the stability of the US dollar.
Joe Biden will be pretty much helpless as well,if he becomes the next US president.

[molsewid]

Of course, it's a worrying sign. People lost their job due to the Coronavirus, not only in the US in many countries also. The economy can't go back to normal instantly even Trump can't do that. I think we need a year to recover from this pandemic.

[YOSHIE]

The US has experienced several recessions to the Economy, this time possibly the worst ever experienced by the US.

The economy is currently experiencing a sharp decline, this is due to an increase in unemployment due to: (lockdown), where the US is the largest income of consumers who shop, if this epidemic is not resolved it will likely beincreased more unemployment.

Sectors, tourism, restaurants, almost all sectors experienced a decline in turnover that is more severe.
There's nothing the US government can do, besides saving the country's economy by solving all the epidemics and the people can return to normal including the economy.

[philipma1957]

That was seriously alarming to think that the number of unemployed people in

US have already reached more than a million all due because of the existing covid-19

pandemic that have caused the business establishments, offices and other workplaces to temporarily close for awhile to prevent the further spread of the virus that can be potentially gained on places where there is a large scale of working people sharing on a working area.

For sure not only US is experiencing that thing because honestly here in our country around 42% of people are unemployed because of the same reasoning. This is bad because this drag down the productivity rate of the country which also pulls out and brought economic declination in our country. At that rate the US and even other countries facing the threat of pandemic, we have nothing else to do but just to follow the "new normal" approach to somehow lessen the rate of unemployment since business establishments and other work places are already allowed to get back into operation but just for around 30 to 50 percentage working capacity that is already good to somehow boost up to progress the economic state of the country and help some people to get back to work minimizing the amount of jobless people.

Hey this is so wrong it is silly.

 The amount of people that lost their jobs due to covid-19 in the USA  not 1 million or 2 million  or 3 million our 4 million. how about 20 million up from 6 million.

Please fix your title

https://www.pewresearch.org/fact-tank/2020/06/11/unemployment-rose-higher-in-three-months-of-covid-19-than-it-did-in-two-years-of-the-great-recession

... The COVID-19 outbreak and the economic downturn it engendered swelled the ranks of unemployed Americans by more than 14 million, from 6.2 million in February to 20.5 million in May 2020. As a result, the U.S. unemployment rate shot up from 3.8% in February – among the lowest on record in the post-World War II era – to 13.0% in May. That rate was the era’s second highest, trailing only the level reached in April (14.4%).

The rise in the number of unemployed workers due to COVID-19 is substantially greater than the increase due to the Great Recession, when the number unemployed increased by 8.8 million from the end of 2007 to the beginning of 2010. The Great Recession, which officially lasted from December 2007 to June 2009, pushed the unemployment rate to a peak of 10.6% in January 2010, considerably less than the rate currently, according to a new Pew Research Center analysis of government data.   ...

note this dates to June 11 2020, but it is so much higher then  the 1 million you are tossing out there please change the title.  Use 10 million. as it is most likely far better then the 1 million you are using.

[dondonk]

I'm also concerned about what's happening in United States. In several other countries also experienced the same thing, businesses closed and layoffs. I hope d business will be opened soon so that the US economy will recover.