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Half the U.S. population is without a job

grip

grip

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Wait till the extra unemployment benefits run out in August. If there's no new stimulus to shore up those out of work, the number of unpaid bills will hit the economy and markets like a load of bricks.


Coronavirus: Nearly half the U.S. population is without a job

Nearly half of the population is still out of a job showing just how far the U.S. labor market has to heal in the wake of the coronavirus.

The employment-population ratio - the number of employed people as a percentage of the U.S. adult population - plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.

This ratio is a broader look at the employment picture. It takes into account adults not in the labor force and captures those who were discouraged about the prospects of finding a job, whereas the unemployment rate looks at people actively looking for a job.
 
... but this is all just a hoax, :roll:
 
grip said:
Wait till the extra unemployment benefits run out in August. If there's no new stimulus to shore up those out of work, the number of unpaid bills will hit the economy and markets like a load of bricks.


Coronavirus: Nearly half the U.S. population is without a job

Nearly half of the population is still out of a job showing just how far the U.S. labor market has to heal in the wake of the coronavirus.

The employment-population ratio - the number of employed people as a percentage of the U.S. adult population - plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.

This ratio is a broader look at the employment picture. It takes into account adults not in the labor force and captures those who were discouraged about the prospects of finding a job, whereas the unemployment rate looks at people actively looking for a job.
Click to expand...

so we are talking about 10.5% not "half the population" since 38.8 % were already not working.
 
OrphanSlug said:
... but this is all just a hoax, :roll:
Click to expand...

Mortgages/rents, utilities, car payments, credit cards, etc will not be laughing come Sept. The gov will be eager to pass the next stimulus before that happens though.
 
grip said:
Wait till the extra unemployment benefits run out in August. If there's no new stimulus to shore up those out of work, the number of unpaid bills will hit the economy and markets like a load of bricks.


Coronavirus: Nearly half the U.S. population is without a job

Nearly half of the population is still out of a job showing just how far the U.S. labor market has to heal in the wake of the coronavirus.

The employment-population ratio - the number of employed people as a percentage of the U.S. adult population - plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.

This ratio is a broader look at the employment picture. It takes into account adults not in the labor force and captures those who were discouraged about the prospects of finding a job, whereas the unemployment rate looks at people actively looking for a job.
Click to expand...

And it seems that nobody is calculating how many folks like me, who work in live entertainment, are out of work for the duration. As well as all the ancillary jobs cleaning convention centers and hotels, banquet staff, bar and restaurant workers whose businesses rely on convention attendees.

The maskholes are delaying the recovery of these industries with their exercise of their freedumb.

Thanks, maskholes.
 
grip said:
Mortgages/rents, utilities, car payments, credit cards, etc will not be laughing come Sept. The gov will be eager to pass the next stimulus before that happens though.
Click to expand...

Debt service doesn't stimulate the economy. It is payment for past purchases that were already counted.
 
Drawdown said:
so we are talking about 10.5% not "half the population" since 38.8 % were already not working.
Click to expand...

Attending any conventions this year? Got any concert or play tickets?

Do you think the economy can absorb tens of millions of live entertainment employees as well as all the workers whose businesses closed forever?

What do you think is going to happen when tens of millions can't feed their landlords? When those landlords can't make their mortgage payments because their peasants don't have jobs?

We haven't even begun to reap the whirlwind trump's incompetence and denial has caused.
 
Drawdown said:
Debt service doesn't stimulate the economy. It is payment for past purchases that were already counted.
Click to expand...

It's the ripple effect it has on banking, markets, and credit.
 
damned if you do and damned if you don't, but at this point i think opening back up and taking as many precautions as possible is the best course of action.
 
im scared that big businesses will eat up the economy
 
TypicalRussian said:
im scared that big businesses will eat up the economy
Click to expand...

Retail sales make up the largest portion of the GDP. If there's no disposable income left from job losses, there won't be much of an economy.
 
What if...? said:
Attending any conventions this year? Got any concert or play tickets?

Do you think the economy can absorb tens of millions of live entertainment employees as well as all the workers whose businesses closed forever?

What do you think is going to happen when tens of millions can't feed their landlords? When those landlords can't make their mortgage payments because their peasants don't have jobs?

We haven't even begun to reap the whirlwind trump's incompetence and denial has caused.
Click to expand...

Democrats were handed a convenient crisis to destroy the economy and stain Trump.

As if that weren't enough, media has flamed racism at the worst possible time to ensure economic disaster and civil unrest.

I believe a majority of Americans have seen enough of Democrat policy failure and Marxist-Leninist guerrilla tactics to make a decision.
 
grip said:
Retail sales make up the largest portion of the GDP. If there's no disposable income left from job losses, there won't be much of an economy.
Click to expand...

true that
 
grip said:
Retail sales make up the largest portion of the GDP. If there's no disposable income left from job losses, there won't be much of an economy.
Click to expand...

Yep, and even 'essential' (still open) businesses require steady customer sales volume in order to meet their operating expenses (including payroll).
 
grip said:
Wait till the extra unemployment benefits run out in August. If there's no new stimulus to shore up those out of work, the number of unpaid bills will hit the economy and markets like a load of bricks.


Coronavirus: Nearly half the U.S. population is without a job

Nearly half of the population is still out of a job showing just how far the U.S. labor market has to heal in the wake of the coronavirus.

The employment-population ratio - the number of employed people as a percentage of the U.S. adult population - plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.

This ratio is a broader look at the employment picture. It takes into account adults not in the labor force and captures those who were discouraged about the prospects of finding a job, whereas the unemployment rate looks at people actively looking for a job.
Click to expand...

But we just had to make sure the rich got their HUGE bailouts.

Why didn’t those poor corporations and banks save for a rainy day instead of wasting their money on avocado toast?
 
What if...? said:
Attending any conventions this year? Got any concert or play tickets?
Click to expand...

Nope but when I get them I get them for free anyway or else I don't go.

Do you think the economy can absorb tens of millions of live entertainment employees as well as all the workers whose businesses closed forever?
Click to expand...

Yep.


What do you think is going to happen when tens of millions can't feed their landlords? When those landlords can't make their mortgage payments because their peasants don't have jobs?
Click to expand...

I guess they will get jobs that require them to like work and stuff.

We haven't even begun to reap the whirlwind trump's incompetence and denial has caused.
Click to expand...

Not Trump's fault New Yorkers couldn't wash their hands and "denial" has no operative value.
 
Countries in the EU are absolutely shocked at how badly Trump has managed this pandemic, that's why they will block every US citizen from entering their country. Their countries have been showing their numbers of new cases shrink while the US continues to explode state by state.

If Trump had signed an executive order on April 1st to lock down the entire country, just shutter it, close non-essential business, enforce wearing a mask and social distancing, and flood states with enough test kits to test their entire population if necessary, we would be looking at the sunny side of this pandemic. Instead we're seeing it get uglier and uglier and more deaths, more hospitalization and less opportunity to contact trace. It's a disaster and all because Trump did something far worse than not taking charge of this from the start, he denied it was ever a threat.
 
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