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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. 6.6 million jobless claims.

6.6 million jobless claims.

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  • J Offline
    J Offline
    jon-nyc
    wrote on 7 May 2020, 17:37 last edited by
    #41

    That has yet to be proven, I read somewhere that some employees in South Korea got furloughed twice.

    Only non-witches get due process.

    • Cotton Mather, Salem Massachusetts, 1692
    1 Reply Last reply
    • C Offline
      C Offline
      Copper
      wrote on 10 May 2020, 13:46 last edited by
      #42

      This is making the rounds on pilot sites

      I wonder if it is real, maybe it is

      https://ukaviation.news/qatar-airways-you-are-no-longer-required-heres-a-130000-bill/

      @ukaviation said: >

      Qatar Airways: You are no longer required, here’s a £130,000 bill

      alt text

      1 Reply Last reply
      • M Offline
        M Offline
        mark
        wrote on 10 May 2020, 16:36 last edited by
        #43

        That cannot be real. If it is, then, fuck them!

        1 Reply Last reply
        • M Offline
          M Offline
          MainerMikeBrown
          wrote on 10 May 2020, 18:57 last edited by
          #44

          Reading about current jobless claims makes me think about the bad economy overall.

          And I hate to read about people losing their livelihood.

          1 Reply Last reply
          • G Offline
            G Offline
            George K
            wrote on 28 May 2020, 13:23 last edited by
            #45

            2.1 million this week:

            And here's an interesting comment:

            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

            1 Reply Last reply
            • 8 Offline
              8 Offline
              89th
              wrote on 28 May 2020, 13:26 last edited by
              #46

              And in Q3 when tens of millions of people are "hired", Trump will claim it as the best economy EVAH

              C 1 Reply Last reply 28 May 2020, 14:26
              • L Offline
                L Offline
                Loki
                wrote on 28 May 2020, 13:28 last edited by
                #47

                The white collar job layoffs are coming and furloughs are turning into layoffs.

                C A 2 Replies Last reply 28 May 2020, 14:28
                • G Offline
                  G Offline
                  George K
                  wrote on 28 May 2020, 14:15 last edited by
                  #48

                  https://www.bea.gov/sites/default/files/2020-05/gdp1q20_2nd.pdf

                  Real gross domestic product (GDP) decreased at an annual rate of 5.0 percent in the first quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1 percent.

                  The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the decrease in real GDP was 4.8 percent. With the second estimate, a downward revision to private inventory investment was partly offset by upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment (see "Updates to GDP" on page 2).

                  Screen Shot 2020-05-28 at 9.13.56 AM.png

                  "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                  The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                  L 1 Reply Last reply 28 May 2020, 22:03
                  • 8 89th
                    28 May 2020, 13:26

                    And in Q3 when tens of millions of people are "hired", Trump will claim it as the best economy EVAH

                    C Offline
                    C Offline
                    Copper
                    wrote on 28 May 2020, 14:26 last edited by
                    #49

                    @89th said in 6.6 million jobless claims.:

                    And in Q3 when tens of millions of people are "hired", Trump will claim it as the best economy EVAH

                    If it recovers from this hit, it will be the best ever.

                    And another win.

                    1 Reply Last reply
                    • L Loki
                      28 May 2020, 13:28

                      The white collar job layoffs are coming and furloughs are turning into layoffs.

                      C Offline
                      C Offline
                      Copper
                      wrote on 28 May 2020, 14:28 last edited by
                      #50

                      @Loki said in 6.6 million jobless claims.:

                      The white collar job layoffs are coming and furloughs are turning into layoffs.

                      Turning into slave-wage factory jobs taken away from China and Contact Tracer jobs.

                      1 Reply Last reply
                      • G George K
                        28 May 2020, 14:15

                        https://www.bea.gov/sites/default/files/2020-05/gdp1q20_2nd.pdf

                        Real gross domestic product (GDP) decreased at an annual rate of 5.0 percent in the first quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1 percent.

                        The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the decrease in real GDP was 4.8 percent. With the second estimate, a downward revision to private inventory investment was partly offset by upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment (see "Updates to GDP" on page 2).

                        Screen Shot 2020-05-28 at 9.13.56 AM.png

                        L Offline
                        L Offline
                        Loki
                        wrote on 28 May 2020, 22:03 last edited by
                        #51

                        @George-K said in 6.6 million jobless claims.:

                        https://www.bea.gov/sites/default/files/2020-05/gdp1q20_2nd.pdf

                        Real gross domestic product (GDP) decreased at an annual rate of 5.0 percent in the first quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1 percent.

                        The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the decrease in real GDP was 4.8 percent. With the second estimate, a downward revision to private inventory investment was partly offset by upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment (see "Updates to GDP" on page 2).

                        Screen Shot 2020-05-28 at 9.13.56 AM.png

                        If you think Q1 was bad with 5% decline how does 40% decline projected for Q2 sound?

                        https://www.cnbc.com/2020/05/15/gdp-could-decline-by-42percent-in-the-second-quarter-according-to-the-atlanta-fed.html

                        1 Reply Last reply
                        • L Loki
                          28 May 2020, 13:28

                          The white collar job layoffs are coming and furloughs are turning into layoffs.

                          A Away
                          A Away
                          Axtremus
                          wrote on 28 May 2020, 22:07 last edited by
                          #52

                          @Loki said in 6.6 million jobless claims.:

                          The white collar job layoffs are coming and furloughs are turning into layoffs.

                          Can workers who are "furloughed" apply for unemployment benefits?
                          If they can, then the transition from "furloughed" into "laid off" is merely a nominal change that will not affect the employment statistics.

                          Still bad for the furloughed/laid off people though. 😞

                          L 1 Reply Last reply 28 May 2020, 23:12
                          • HoraceH Offline
                            HoraceH Offline
                            Horace
                            wrote on 28 May 2020, 22:52 last edited by
                            #53

                            yes, furloughed can apply for unemployment, at least in CA.

                            As you can imagine, CA is all over this, making it as easy as possible for people to get their money.

                            Education is extremely important.

                            C 1 Reply Last reply 28 May 2020, 23:04
                            • HoraceH Horace
                              28 May 2020, 22:52

                              yes, furloughed can apply for unemployment, at least in CA.

                              As you can imagine, CA is all over this, making it as easy as possible for people to get their money.

                              C Offline
                              C Offline
                              Copper
                              wrote on 28 May 2020, 23:04 last edited by
                              #54

                              @Horace said in 6.6 million jobless claims.:

                              yes, furloughed can apply for unemployment, at least in CA.

                              As you can imagine, CA is all over this, making it as easy as possible for people to get their Horace's money.

                              1 Reply Last reply
                              • A Axtremus
                                28 May 2020, 22:07

                                @Loki said in 6.6 million jobless claims.:

                                The white collar job layoffs are coming and furloughs are turning into layoffs.

                                Can workers who are "furloughed" apply for unemployment benefits?
                                If they can, then the transition from "furloughed" into "laid off" is merely a nominal change that will not affect the employment statistics.

                                Still bad for the furloughed/laid off people though. 😞

                                L Offline
                                L Offline
                                Loki
                                wrote on 28 May 2020, 23:12 last edited by
                                #55

                                @Axtremus said in 6.6 million jobless claims.:

                                @Loki said in 6.6 million jobless claims.:

                                The white collar job layoffs are coming and furloughs are turning into layoffs.

                                Can workers who are "furloughed" apply for unemployment benefits?
                                If they can, then the transition from "furloughed" into "laid off" is merely a nominal change that will not affect the employment statistics.

                                Still bad for the furloughed/laid off people though. 😞

                                All this hand out money will last as long as the Fed can buy corporate debt and do the ETF thing and stock market valuations stay high. But think about Boeing, Hertz, Carnival, restaurant chains, are they viable if people can’t/won’t get out?
                                Make no mistake American corporations and Wall Street is in on this.

                                At least after 9/11 people were out and about in a reasonable period, however...

                                1 Reply Last reply
                                • G Offline
                                  G Offline
                                  George K
                                  wrote on 5 Jun 2020, 13:26 last edited by
                                  #56

                                  https://www.foxbusiness.com/economy/may-2020-jobs-report

                                  The U.S. unemployment rate unexpectedly dropped to 13.3 percent in May, down from a record high in April, indicating the nation's economy is recovering faster than expected from the coronavirus lockdown.

                                  The Labor Department said in its Friday report that employers added a stunning 2.5 million jobs in May -- the biggest increase on record. The economy shed a combined 22.1 million jobs in April and March.

                                  Economists surveyed by Refinitiv expected the report to show that unemployment rose to 19.8 percent in May and that employers shed 8 million jobs. If the expectation had been accurate, it would have been the worst figure since the Great Depression.

                                  “Barring a second surge of Covid-19, the overall U.S. economy may have turned a corner, as evidenced by the surprise job gains today, even though it still remains to be seen exactly what the new normal will look like," said Tony Bedikian, head of global markets at Citizens Bank.

                                  "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                  The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                  8 1 Reply Last reply 5 Jun 2020, 13:30
                                  • G George K
                                    5 Jun 2020, 13:26

                                    https://www.foxbusiness.com/economy/may-2020-jobs-report

                                    The U.S. unemployment rate unexpectedly dropped to 13.3 percent in May, down from a record high in April, indicating the nation's economy is recovering faster than expected from the coronavirus lockdown.

                                    The Labor Department said in its Friday report that employers added a stunning 2.5 million jobs in May -- the biggest increase on record. The economy shed a combined 22.1 million jobs in April and March.

                                    Economists surveyed by Refinitiv expected the report to show that unemployment rose to 19.8 percent in May and that employers shed 8 million jobs. If the expectation had been accurate, it would have been the worst figure since the Great Depression.

                                    “Barring a second surge of Covid-19, the overall U.S. economy may have turned a corner, as evidenced by the surprise job gains today, even though it still remains to be seen exactly what the new normal will look like," said Tony Bedikian, head of global markets at Citizens Bank.

                                    8 Offline
                                    8 Offline
                                    89th
                                    wrote on 5 Jun 2020, 13:30 last edited by
                                    #57

                                    @George-K said in 6.6 million jobless claims.:

                                    employers added a stunning 2.5 million jobs in May -- the biggest increase on record.

                                    Anyone else tired of winning?

                                    1 Reply Last reply
                                    • C Offline
                                      C Offline
                                      Copper
                                      wrote on 5 Jun 2020, 13:36 last edited by
                                      #58

                                      Stunning

                                      1 Reply Last reply
                                      • taiwan_girlT Offline
                                        taiwan_girlT Offline
                                        taiwan_girl
                                        wrote on 5 Jun 2020, 13:57 last edited by
                                        #59

                                        Not sure if it is legal to quote myself, but I am going to do so. In the forum thread, "The Rebound",

                                        *I think the economy will be better than now. And it will be easy to spread statistics that back that up.

                                        "President Trump has created XXXXXXXX jobs in the last 5 months."
                                        "Quarter to quarter growth in the economy is up XX%, an unprecident gain!!"*

                                        The Democrats will come out with a press release that highlights the unemployment rate is highest in many years.
                                        The Republics will come out with a press release talking about record job growing.

                                        And both will be right!

                                        1 Reply Last reply
                                        • MikM Offline
                                          MikM Offline
                                          Mik
                                          wrote on 5 Jun 2020, 14:40 last edited by
                                          #60

                                          Which is a marked change from both of them lying through their teeth. 😆

                                          “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

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