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(Forbes)   U Chicago study finds that 16M of the jobs lost over the past two months aren't coming back   (forbes.com) divider line
    More: Scary, Unemployment, Economics, permanent job losses, recent layoffs, University of Chicago estimates, new hires, result of the job, Jose Maria Barrero  
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611 clicks; posted to Business » and Main » on 20 May 2020 at 11:23 AM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

 
2020-05-20 11:55:45 AM  
8 votes:

Psychopusher: That's a bit overly dramatic.  They aren't permanent job losses in the sense that those who lost jobs will never get another.  Lots of places will go out of business or they will simply survive by keeping fewer staff, which will result in a lot of people losing those positions, but inevitably there will be new businesses to take the place of the ones that shut their doors, and they're going to need staff. Yes, there will likely be an absolute shiatload of people who can't get work for quite some time because of this, and that absolutely sucks 31 flavours of ass, but it's not "permanent."

The economy, and lost jobs, are going to take some time to recover, and that's going to put a huge strain on a large percentage of the population, not to mention government assistance for probably at least the next year, likely longer -- none of this is going to just snap back to any degree of normal.  But eventually things will approach a level of normal, even if it's a new normal, and jobs will return.  Almost certainly not under Trump, to be certain, but as long as he's shoved forcefully out of the White House, recovery will happen.

Until then though, yes, things are going to suck painfully hard for a great many people.


A couple restaurants around me are moving to contactless ordering through apps. Server will only be there to bring out food a drinks. That's going to require less wait staff, and probably lower tips since you barely have any contact with the server.

Most white collar jobs are going to be doing some form of permanent telework. You need less cleaning and maintenance staff if offices are only occupied two days a week. Cafeterias and downtown lunch spots will also take a permanent hit.

I bet there are a lot of manucturers are right now finding ways to further automate their lines so they can practice social distancing.

Basic labor jobs were already looking at major losses over the next couple of decades due to automation, AI, 3d printing, etc. Covid has just put those losses on the fast track.
 
2020-05-20 10:47:21 AM  
6 votes:

Psychopusher: But eventually things will approach a level of normal, even if it's a new normal, and jobs will return.


This is a pretty roundabout way of saying society will collapse and that we will go back to living in the trees, but I'm okay with it.
 
2020-05-20 10:23:21 AM  
6 votes:
That's a bit overly dramatic.  They aren't permanent job losses in the sense that those who lost jobs will never get another.  Lots of places will go out of business or they will simply survive by keeping fewer staff, which will result in a lot of people losing those positions, but inevitably there will be new businesses to take the place of the ones that shut their doors, and they're going to need staff. Yes, there will likely be an absolute shiatload of people who can't get work for quite some time because of this, and that absolutely sucks 31 flavours of ass, but it's not "permanent."

The economy, and lost jobs, are going to take some time to recover, and that's going to put a huge strain on a large percentage of the population, not to mention government assistance for probably at least the next year, likely longer -- none of this is going to just snap back to any degree of normal.  But eventually things will approach a level of normal, even if it's a new normal, and jobs will return.  Almost certainly not under Trump, to be certain, but as long as he's shoved forcefully out of the White House, recovery will happen.

Until then though, yes, things are going to suck painfully hard for a great many people.
 
2020-05-20 1:12:23 PM  
5 votes:

Esroc: contrapunctus: 3 years, at the minimum before things even begin to turn around.  It's going to take time.

Longer if Trump is re-elected.

At this point there's no way he doesn't get re-elected. Between all the voter suppression his administration is doing or preparing to do and the sickeningly massive number of his braindead supporters that are ready to commit violence in his name to keep him in office, there's just no way Democrats stand a chance.

I'll be happy to be proven wrong. But if historical examples of fallen democracies are any indication this next election is going to be a farce and very likely the last election for this country. We're farked. I hope I'm just overreacting. But I'm probably not.


Remember when bush jr wasn't going to leave office? Remember when Obama wasn't? The same stupid idea always crops up.
 
2020-05-20 11:45:15 AM  
3 votes:
Wow we have a short memory - wage growth only really started to occur in the past 2 years following the last recession, and even that wasn't for a lot of people. That was a ten year recovery.

Look out folks, this one is going to be a long haul. Especially if you can't describe yourself as mobile and able to relocate to where demand for your skills is good.
 
2020-05-20 2:13:29 PM  
2 votes:

SafetyThird: Remember when bush jr wasn't going to leave office? Remember when Obama wasn't? The same stupid idea always crops up.


We've never had a Putin-worshipping man-baby in charge that will likely face prosecution if he leaves office. No rational person thought for a second that GWB or Obama wouldn't leave office. I think most of us could totally envision Trump refusing to recognize the elections in any state that he narrowly lost. Unless you think states like Georgia, Arizona, or Texas are going to flip blue it isn't going to be a Democratic landslide that would leave zero wiggle room.
 
2020-05-20 11:38:52 AM  
2 votes:
3 years, at the minimum before things even begin to turn around.  It's going to take time.

Longer if Trump is re-elected.
 
2020-05-20 5:40:16 PM  
1 vote:

mcreadyblue: Iwouldhitit: University of Chicago?  Pffft.  Wake me when someone other than a state school studies this.

/Alum

LOL.

They have their own neoclassical school of economic thought named after them.


Widely ridiculed school of economic thought.
 
2020-05-20 1:54:19 PM  
1 vote:

SafetyThird: Esroc: contrapunctus: 3 years, at the minimum before things even begin to turn around.  It's going to take time.

Longer if Trump is re-elected.

At this point there's no way he doesn't get re-elected. Between all the voter suppression his administration is doing or preparing to do and the sickeningly massive number of his braindead supporters that are ready to commit violence in his name to keep him in office, there's just no way Democrats stand a chance.

I'll be happy to be proven wrong. But if historical examples of fallen democracies are any indication this next election is going to be a farce and very likely the last election for this country. We're farked. I hope I'm just overreacting. But I'm probably not.

Remember when bush jr wasn't going to leave office? Remember when Obama wasn't? The same stupid idea always crops up.


Neither of those two had spent their life larping as (the worst) wannabe mob boss in history
 
2020-05-20 1:13:15 PM  
1 vote:

SafetyThird: Esroc: contrapunctus: 3 years, at the minimum before things even begin to turn around.  It's going to take time.

Longer if Trump is re-elected.

At this point there's no way he doesn't get re-elected. Between all the voter suppression his administration is doing or preparing to do and the sickeningly massive number of his braindead supporters that are ready to commit violence in his name to keep him in office, there's just no way Democrats stand a chance.

I'll be happy to be proven wrong. But if historical examples of fallen democracies are any indication this next election is going to be a farce and very likely the last election for this country. We're farked. I hope I'm just overreacting. But I'm probably not.

Remember when bush jr wasn't going to leave office? Remember when Obama wasn't? The same stupid idea always crops up.


They didn't pull even half the illegal shiat Trump has. That's the only reason I'm scared.
 
2020-05-20 12:45:47 PM  
1 vote:

Copperbelly watersnake: Psychopusher: That's a bit overly dramatic.  They aren't permanent job losses in the sense that those who lost jobs will never get another.  Lots of places will go out of business or they will simply survive by keeping fewer staff, which will result in a lot of people losing those positions, but inevitably there will be new businesses to take the place of the ones that shut their doors, and they're going to need staff. Yes, there will likely be an absolute shiatload of people who can't get work for quite some time because of this, and that absolutely sucks 31 flavours of ass, but it's not "permanent."

The economy, and lost jobs, are going to take some time to recover, and that's going to put a huge strain on a large percentage of the population, not to mention government assistance for probably at least the next year, likely longer -- none of this is going to just snap back to any degree of normal.  But eventually things will approach a level of normal, even if it's a new normal, and jobs will return.  Almost certainly not under Trump, to be certain, but as long as he's shoved forcefully out of the White House, recovery will happen.

Until then though, yes, things are going to suck painfully hard for a great many people.

A couple restaurants around me are moving to contactless ordering through apps. Server will only be there to bring out food a drinks. That's going to require less wait staff, and probably lower tips since you barely have any contact with the server.

Most white collar jobs are going to be doing some form of permanent telework. You need less cleaning and maintenance staff if offices are only occupied two days a week. Cafeterias and downtown lunch spots will also take a permanent hit.

I bet there are a lot of manucturers are right now finding ways to further automate their lines so they can practice social distancing.

Basic labor jobs were already looking at major losses over the next couple of decades due to automation, AI, 3d printing, etc. Covi ...


You missed the big one-brick and mortar retail is going to close en masse, especially stuff that was shut down for several months due to the lockdown.  Anything in a mall, most clothing retailers, Gamestop, etc.  There's already been four or five major retailers enter bankruptcy since the lockdown started; much more to come.  Even chains that aren't going out of business will cut underperforming stores.
 
2020-05-20 11:54:22 AM  
1 vote:
Watch everything that is going on. The vast majority actually think that everything is about to go back to normal, very soon. Even some of the fark warriors.

My hope is that it does not go back to normal. It needs to go to something far from normal.

But that will impact people and no one wants that. Now, if only impacts other people, thats fine, it would seem.
 
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