Unemployment Data

[r3volution 3.0]

https://moneymaven.io/mishtalk/econ...nemployment-claim-data-dojzBt6Ms02ZFhwuq3LcGQ

The Trump administration is asking state labor officials to delay releasing the precise number of unemployment claims they are fielding, an indication of how uneasy policymakers are about further roiling a stock market already plunging in response to the coronavirus outbreak.

In an email sent Wednesday, the Labor Department instructed state officials to only “provide information using generalities to describe claims levels (very high, large increase)” until the department releases the total number of national claims next Thursday.

The email, which was shared with The New York Times, noted that the reports were monitored closely by financial markets and should therefore remain embargoed. “States should not provide numeric values to the public,” wrote Gay Gilbert, the administrator of the department’s Office of Employment Insurance.

This isn't a dig at Trump, I don't really care if they lie about these numbers (been doing it for years anyway).

The point is that the data is going to be horrifying.

I wouldn't be surprised in the slightest if we hit 25% unemployment by month's end.

 

[oyarde]

Around here there will be some . I do not know how significant . Basically Greeters / Seaters , waitresses , waiters , bartenders , but I have no idea how many of them work how many hours a week and if it is considered employment if they work 30 or whatever . Teachers are still getting paid , what am I forgetting ?

 

[Madison320]

https://moneymaven.io/mishtalk/econ...nemployment-claim-data-dojzBt6Ms02ZFhwuq3LcGQ



This isn't a dig at Trump, I don't really care if they lie about these numbers (been doing it for years anyway).

The point is that the data is going to be horrifying.

I wouldn't be surprised in the slightest if we hit 25% unemployment by month's end.

I told my Trump supporting co-worker that I thought this was the objectively the weakest our economy has ever been in it's history. He looked at me like I was crazy but I told him it was based on the debt levels which are the true, objective measure of economic health. As you know unemployment numbers are a poor indicator. You can buy 100% employment for a while until everything collapses. Besides that communist countries have no unemployment, but I wouldn't be bragging about their economies.

Not that this is all Trump's fault, he just continued the trend. The biggest problem with Trump was that he gave everybody confidence which helped blow an even bigger bubble. We might've been better off with Hillary. We would've gone right into recession with Hillary. At least we wouldn't have had so far to fall and the fall would be blamed on socialism not incorrectly on capitalism.

 

[BortSimpson]

I told my Trump supporting co-worker that I thought this was the objectively the weakest our economy has ever been in it's history. He looked at me like I was crazy but I told him it was based on the debt levels which are the true, objective measure of economic health. As you know unemployment numbers are a poor indicator. You can buy 100% employment for a while until everything collapses. Besides that communist countries have no unemployment, but I wouldn't be bragging about their economies.

Not that this is all Trump's fault, he just continued the trend. The biggest problem with Trump was that he gave everybody confidence which helped blow an even bigger bubble. We might've been better off with Hillary. We would've gone right into recession with Hillary. At least we wouldn't have had so far to fall and the fall would be blamed on socialism not incorrectly on capitalism.

Thinking the same exact thing. I think it would’ve been much better had Hillary gotten elected. Then again who knows if things would’ve played out the same way.

Interestingly, the establishment doesn’t seem to want Bernie either (not that I want socialism). Biden is definitely of diminished mental capacity but I’d say he’s the clear cut favorite at this point. No way trump gets re-elected with probably the biggest crash in US history occurring on his watch. And it happened 3+ years in (and he took credit for the economy many times) so he can’t back out of this now. Personally I think that he did his part in this collapse but it certainly was a “big fat ugly bubble” (as he termed it) too when he took office.

 

[BortSimpson]

Some things that are going to take a huge hit:
Restaurants, bars, entertainment, housing, the movie industry, Music industry, Financial industry, sports, cruise liners, probably luxury goods. Probably many other things too. But think of how many people are associated with these jobs. In a restaurant the chefs, waiters, bus boys, greeters, bartenders, bar backs, dishwashers, cleaning crew, door check, maybe valet parking (not to mention the owners).

Every industry has a lot of people associated with it. This is going to be a cascade. And it will be a lot less safe going forward.

 

[AZJoe]

3.3 Million File For Unemployment Claims, Shattering Records