Future Economy / COVID (w/poll)

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What is your current economic/job situation and/or outlook?

1. Pretty good - I have a job that looks pretty secure right now/no major changes anticipated with COVID
2
20%
2. Alright - I have a job right now but seems possibly tentative, have had to make some adjustments for COVID but seems sustainable.
5
50%
3. Not good - Currently laid off - but hope to get my job back soon/have had to scramble to find other work.
0
No votes
4. Pretty terrible - Laid off due to COVID with no expectation of job coming back and my whole industry is collapsing.
1
10%
5. Doesn't apply to me - Not working and/or not worried at the moment.
2
20%
 
Total votes: 10

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mockbee
Posts: 3468
Joined: Mon Oct 17, 2011 12:05 am
Location: Portland, OR

Future Economy / COVID (w/poll)

#1 Post by mockbee » Thu Jun 18, 2020 11:38 pm

So, another poll.

Seems that unemployment, or the threat of losing your job/work, has to be touching pretty much everyone at this point, even if just friends and family.

Personally, I think this is a watershed moment for large (and small business') Small businesses seem to be really struggling to stay afloat and can only bring back half the people if sales/activity stays down. Then large corporations are using this time as a means to totally restructure with a jobless recovery. Great for their bottom line and their stock, but 10s of millions of jobs never coming back.....? :noclue:
What are we going to do about that? :hs:
Unemployment insurance forever? Maybe just call it UBI? :noclue:
Unemployment claims top one million for the 13th straight week.

Businesses are reopening, but the layoffs won’t quit.

Another 1.5 million people applied for state unemployment benefits last week, the Labor Department said Thursday.

It was the 13th straight week that state filings topped one million. Until the coronavirus crisis, the most new claims in a single week had been 695,000, in 1982.

Claims for Pandemic Unemployment Assistance, a federal program for self-employed workers, independent contractors and others ineligible for standard benefits, added 760,000 to the total.

“It’s a sustained hemorrhaging of jobs unlike anything we’ve seen,” said Heidi Shierholz, director of policy at the Economic Policy Institute, a progressive think tank.

Economists said recent layoffs, though smaller than the wave in March and early April, suggested that the crisis was reaching deeper into the economy.

Hilton Worldwide, the hotel operator, said this week that it was eliminating 2,100 corporate jobs globally and would extend previous furloughs and cuts in hours and wages for 90 days. AT&T disclosed plans to shed 3,400 technician and clerical jobs nationwide and permanently close more than 250 stores, according to one of its unions. The gym chain 24 Hour Fitness said it was filing for bankruptcy protection and would permanently close more than 100 locations.

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Pandemonium
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Re: Future Economy / COVID (w/poll)

#2 Post by Pandemonium » Fri Jun 19, 2020 10:03 am

My wife lost her job in April, my freelance work dropped off to zero and even my son who was doing part time at a local Grocery Outlet store was let go. If either my wife or I doesn't get a solid job by early August, we're going to have to crack open our retirement 401k which is going to suck big time.

creep
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Re: Future Economy / COVID (w/poll)

#3 Post by creep » Fri Jun 19, 2020 7:48 pm

luckily no changes for me. my current occupation is pretty stable.

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mockbee
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Location: Portland, OR

Re: Future Economy / COVID (w/poll)

#4 Post by mockbee » Fri Jun 19, 2020 10:15 pm

I haven't had a job this whole year. I was interviewing pretty consistrntly before March/COVID and looked pretty promising to get a position I would be pretty happy with. Even continued to have a lot of hits through April but little since.
Its actually a pretty huge boon as the stimulus payments bring in an extra $2,400 after taxes, also I am loving not working and doing my own thing all day, including a bunch of volunteer design work.
I'm good through the end of the year, could even do most of next year fine after payments run out. But after that would be interesting... :noclue:

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Larry B.
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Location: Santiago

Re: Future Economy / COVID (w/poll)

#5 Post by Larry B. » Fri Jun 19, 2020 10:35 pm

My translation work has been steadily dropping off for years, due to machines taking over. I started on a low-paying (but absolutely lovely) coaching job, and covid hit. They haven’t laid me off, but if there’s no-one whom to coach live, there’s no reason for them to keep any of us.

We’re still doing fine, but it doesn’t feel good.

clickie
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Joined: Sun Oct 16, 2011 8:15 am

Re: Future Economy / COVID (w/poll)

#6 Post by clickie » Sat Jun 20, 2020 5:34 am

Was your football team any good?

Hokahey
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Re: Future Economy / COVID (w/poll)

#7 Post by Hokahey » Sat Jun 20, 2020 12:12 pm

With rates falling off a cliff i have more refinance applications than I can almost keep up with. I feel guilty doing well when others are suffering, but at least I'm helping people save money.

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