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(CNBC)   Weekly jobless claims come in at 778K vs 730K expected. 20.45m people still on Gov assistance vs 20.31m last week   (cnbc.com) divider line
    More: News, Unemployment, hospitality industry, jobless claims, gross domestic product, Durable goods orders, Commerce Department, last week, past week  
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415 clicks; posted to Politics » on 25 Nov 2020 at 10:35 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-11-25 8:46:49 AM  
Latest report out now.

As the title states, more layoffs have started. This report is a lagging report, meaning this data is a week to several weeks old. So we are just now seeing the effects of ~ month ago when temps dropped and people went indoors.

Full report here.

On the graph pictured below you can see it barely start to go back up. But it is now heading in the wrong direction.

Fark user imageView Full Size


Fark user imageView Full Size


media.tenor.comView Full Size
 
2020-11-25 8:50:25 AM  
Full report here if you need some real riveting material.
 
2020-11-25 8:52:00 AM  
Thanks, OBiden
 
2020-11-25 8:58:50 AM  
Why don't these stupid poor people just buy more stock and put food on their families?

Fark user imageView Full Size
 
2020-11-25 9:07:53 AM  
Talking with a friend last night who works at a small independent movie theater in New England that has been shut down since last spring and his unemployment ran out last week with no sign of when his job will come back, and no sign of any other jobs to work for without moving.
 
2020-11-25 9:10:13 AM  
Fark user imageView Full Size

I was cleaning out an old meme file this morning and ran across this one that I clipped some time back. The stock market is not the economy. I can't eat their speculation.
 
2020-11-25 9:48:24 AM  
*raises hand*

Laid off since March. On my 2nd Unemployment extension which expires in December. One extension left after that for MAYBE 7 weeks. My work just laid off all hourly employees. The property I work at has now stopped taking reservations Monday through Thursday.

Still nothing from congress. I've given up hoping for any progress and I hope they ALL rot. I'm pretty despondent now and have zero hope for the future.

/sorry I'm depressed
//I did watch a good movie this morning
///Boss Level... Check it out
 
2020-11-25 10:01:55 AM  

Calypsocookie: *raises hand*

Laid off since March. On my 2nd Unemployment extension which expires in December. One extension left after that for MAYBE 7 weeks. My work just laid off all hourly employees. The property I work at has now stopped taking reservations Monday through Thursday.

Still nothing from congress. I've given up hoping for any progress and I hope they ALL rot. I'm pretty despondent now and have zero hope for the future.

/sorry I'm depressed
//I did watch a good movie this morning
///Boss Level... Check it out


:(

I was just in the same boat. Kept a log of all the resumes I sent out. 65 in total. Got only a few callbacks. I wasnt even applying for things out of my realm in hopes of getting something. Finally something landed. The first 3 months I did not apply because I thought I was going to go back and they kept telling me so. So those 65 came in months 4-6. By the time I start it'll be 7+ months. But I did get a part time gig unloading Amazon trucks in the interim. That did help. Shiat sucks. Im sorry.
 
2020-11-25 10:14:54 AM  
Amazon warehouse workers in Alabama petition to form a union

https://www.latimes.com/business/tech​n​ology/story/2020-11-24/amazon-warehous​e-workers-in-alabama-petition-to-form-​a-union

I'm hopeful that We The People will start a new labor movement. This especially includes the unemployed and underemployed. Get them the help they need, get all of us the health care we need.
 
2020-11-25 10:29:56 AM  

Kat09tails: [Fark user image 272x199]
I was cleaning out an old meme file this morning and ran across this one that I clipped some time back. The stock market is not the economy. I can't eat their speculation.


Yep.  You have too many people in charge who can't fathom what that is like.  Hell, I can't really fathom it myself but I have had a "taste" of it. It sucks enough returning things to the shelf after you do some calculation and worrying about groceries in general.

And the greater effects - sticking with crappy but secure jobs and taking less risk and stagnating have a serious negative effect on people's lives which has a cumulative effect on society.
 
2020-11-25 10:34:37 AM  

AsparagusFTW: Calypsocookie: *raises hand*

Laid off since March. On my 2nd Unemployment extension which expires in December. One extension left after that for MAYBE 7 weeks. My work just laid off all hourly employees. The property I work at has now stopped taking reservations Monday through Thursday.

Still nothing from congress. I've given up hoping for any progress and I hope they ALL rot. I'm pretty despondent now and have zero hope for the future.

/sorry I'm depressed
//I did watch a good movie this morning
///Boss Level... Check it out

:(

I was just in the same boat. Kept a log of all the resumes I sent out. 65 in total. Got only a few callbacks. I wasnt even applying for things out of my realm in hopes of getting something. Finally something landed. The first 3 months I did not apply because I thought I was going to go back and they kept telling me so. So those 65 came in months 4-6. By the time I start it'll be 7+ months. But I did get a part time gig unloading Amazon trucks in the interim. That did help. Shiat sucks. Im sorry.


Thanks and I'm sorry for your situation also. I know I'm not alone and how lucky I am that I have family to turn to. I didn't mean to come across as whiny I just literally have no hope for a semblance of normal life. Same thing happened to me where in the first 6 months I was reassured I'd be called back. Then things slowly unraveled and it's obviously not goin to happen. My insurance is gone and of course now I'm having some physical ailments and I don't qualify for Medicare because... Get this... I MAKE TOO MUCH FROM UNEMPLOYMENT 😂😂😂 so maybe once it expires and I can't pay any of my bills and I'm homeless I'll finally qualify for it.

Ugh.

I do have an interview with the only new property opening this year on the Vegas strip on 12/4. One interview after hundreds of resumes. One interview for a position hundreds are seeking. One. Interview.

Fingers crossed.
 
2020-11-25 10:36:48 AM  
All those poor people deliberatly remaining poor just to make our Favorite President look bad.  Does the deep state know no bounds?
 
2020-11-25 10:38:27 AM  
Is everyone tired of winning yet?
 
2020-11-25 10:40:04 AM  

AsparagusFTW: Latest report out now.

As the title states, more layoffs have started. This report is a lagging report, meaning this data is a week to several weeks old. So we are just now seeing the effects of ~ month ago when temps dropped and people went indoors.

Full report here.

On the graph pictured below you can see it barely start to go back up. But it is now heading in the wrong direction.

[Fark user image image 850x250]

[Fark user image image 808x289]

[media.tenor.com image 220x121]


And while it looks like just a tiny tick up, that's only because of the absolutely insane spike that kind of knocks the y-axis out of whack.  The numbers are still way bad.
 
2020-11-25 10:40:58 AM  
Why won't Biden and the Democrats do anything???!!?

If Trump were still in charge, you would see winning numbers, not this low energy anti-American Demorat-wrecked economy
 
2020-11-25 10:41:27 AM  
Why won't Biden just lead?
 
2020-11-25 10:42:00 AM  

NewportBarGuy: Why don't these stupid poor people just buy more stock and put food on their families?

[Fark user image 850x1000]


If the fact that the dow is at 30K while we have record unemployment isn't an argument against Trickle Down Economics, I don't know what is.
 
2020-11-25 10:47:58 AM  
20.45m people still on Gov assistance vs 20.31m last week

Under McConnell's leadership, that number should start falling soon, as assistance runs out and these people become homeless in winter and die.
 
2020-11-25 10:48:57 AM  

AsparagusFTW: Latest report out now.

As the title states, more layoffs have started. This report is a lagging report, meaning this data is a week to several weeks old. So we are just now seeing the effects of ~ month ago when temps dropped and people went indoors.

Full report here.

On the graph pictured below you can see it barely start to go back up. But it is now heading in the wrong direction.

[Fark user image 850x250]

[Fark user image 808x289]

[media.tenor.com image 220x121] [View Full Size image _x_]


Look, there are a whole bunch of sectors where full employment simply isn't possible until the virus is functionally gone.  The economy won't fully recover until that happens (unless we stimulus the fark out of things, which apparently we aren't going to do).

Sectors heavily affected include: Bars/restaurants/night clubs/discos/dance halls/pubs/comedy clubs/etc.; trains, planes, and (rental) automobiles; hotels/motels/convention centers/etc.; museums/amusement parks/other tourist attractions; and movie theaters/live theater/sports with live attendance/concerts.

These types of businesses (and businesses that supply these types of businesses with good or services) are farked until the virus is no longer a significant thing, either because they are shut down completely or partially or demand is down organically or both.  Nothing can be done to fix this except getting rid of the virus.
 
2020-11-25 10:49:46 AM  
Why don't they just cash in their stocks?
 
2020-11-25 10:50:19 AM  

Tad_Waxpole: NewportBarGuy: Why don't these stupid poor people just buy more stock and put food on their families?

[Fark user image 850x1000]

If the fact that the dow is at 30K while we have record unemployment isn't an argument against Trickle Down Economics, I don't know what is.


The thing is is that the Fed is doing its job (propping up Wall Street) but the government isn't doing its job (propping up Main Street).  Hence the disconnect.
 
2020-11-25 10:50:20 AM  
Ya but disposable income as a whole is up after trillions were dumped into the pockets of the rich, so why bother care about the unemployed?

I mean there are RULES, and the rules state nothing can be done so long as Kentucky keeps sending the turtle to Congress.  And even better, a president can't take office for months because of how long it took to get to DC by horse in the 1700s.

These are the rules that make for a stable nation
 
2020-11-25 10:54:42 AM  
and what is Joe Biden doing to fix this mess? hm?

yeah that's what i thought NOTHING
 
2020-11-25 10:55:53 AM  
Lazy "job creators" aren't imagining new jobs.

Tax them.
 
2020-11-25 10:56:32 AM  
My kid was let go from her PT retail job in March and has earned more cumulatively in UI than if she had continued dealing with Karens and plague rats.

Sucks for the people who have to live off UI, but a blessing for others.

Let's see what happens next.
 
151
2020-11-25 10:58:34 AM  
I'm a statistic!
 
2020-11-25 10:59:11 AM  

Calypsocookie: One interview for a position hundreds are seeking. One. Interview.

Fingers crossed.


Sometimes one is all it takes. Good luck.
 
2020-11-25 11:02:17 AM  

lilbjorn: 20.45m people still on Gov assistance vs 20.31m last week

Under McConnell's leadership, that number should start falling soon, as assistance runs out and these people become homeless in winter and die.


As you point out, Congress is a real problem, with McTurtle being the slow-moving leader who should be on the menu as a soup

Even so, McTurtle is merely the administrative assistant carrying out the wishes of the people that bribe him. Maybe time for Class Warfare Part II

A strike here, an AOC there -- change would be possible if more Americans believed in it. Too many think it's their own fault and kill themselves when really they should be throwing bricks thru a bank's window

/ please don't attack credit unions, they're mostly cool
 
2020-11-25 11:07:06 AM  

links136: Ya but disposable income as a whole is up after trillions were dumped into the pockets of the rich, so why bother care about the unemployed?

I mean there are RULES, and the rules state nothing can be done so long as Kentucky keeps sending the turtle to Congress.  And even better, a president can't take office for months because of how long it took to get to DC by horse in the 1700s.

These are the rules that make for a stable nation


Don't let the voters in all the states that elect Republican Senators (who then vote for the Turtle to be in charge) off the hook.  They are just as to blame as Kentucky's voters.

Also, the lame duck session was shortened in 1933 via the 20th amendment.  Before that, it lasted until March 4th.
 
2020-11-25 11:07:43 AM  
Can't we just fire them?
 
2020-11-25 11:12:15 AM  
It is terrifying to think that if Trump hadn't farked up the pandemic response we'd probably have him for another 4 years.
 
2020-11-25 11:12:25 AM  

UberDave: Kat09tails: [Fark user image 272x199]
I was cleaning out an old meme file this morning and ran across this one that I clipped some time back. The stock market is not the economy. I can't eat their speculation.

Yep.  You have too many people in charge who can't fathom what that is like.  Hell, I can't really fathom it myself but I have had a "taste" of it. It sucks enough returning things to the shelf after you do some calculation and worrying about groceries in general.

And the greater effects - sticking with crappy but secure jobs and taking less risk and stagnating have a serious negative effect on people's lives which has a cumulative effect on society.


I'm feeling this.  I'm still in my job I've wanted to leave for five years, because it's remote and I still have income.  I try to remember I'm one of the fortunate ones, as another year ticks by and I huddle indoors while people who complain about shutdowns hurting the economy scream and whine and stamp their feet and drag this sh*tshow on and on instead of getting with the f*king program and putting their face cloth on so we can end this stupidity and start actually putting people back to work.

But hey, we're free of socialist mask tyranny!
 
2020-11-25 11:13:47 AM  
My ignorant Trumper cousin assured me there are a lot of jobs out there, but people are making so much on unemployment they don't want to work.
 
2020-11-25 11:14:58 AM  
Someone please Farksplain how the stock market hit 30k while unemployment is still incredibly high and the outlook for the next few months is ominous at best? Is there really *that* much more stimulus expected?

Personally, I moved everything into canned beans and shotgun shells quite some time ago. Even with a more stable president, i fail to see how the economic outlook for the market (I know.. only 30 companies, but it is at least *supposed* to represent a broad cross section) can be that high....

At some point, there must be a correction..
 
2020-11-25 11:15:33 AM  
Be sure and mention this to any Republican family members you encounter tomorrow.
 
2020-11-25 11:16:08 AM  

reno301: My ignorant Trumper cousin assured me there are a lot of jobs out there, but people are making so much on unemployment they don't want to work.


This is the Democrats' plan.  Give people free stuff so they'll vote for them.

So I was also reliably infromed.
 
2020-11-25 11:17:51 AM  

bainsguy: and what is Joe Biden doing to fix this mess? hm?

yeah that's what i thought NOTHING


Actually surprised there hasn't been a tweet today about it.  "Record unemployment! This is what happens when you find fake votes for Sleepy Joe! I won, and can help!"
 
2020-11-25 11:18:01 AM  
But the DOW.... 30000... the DOW
 
2020-11-25 11:18:03 AM  

lilbjorn: 20.45m people still on Gov assistance vs 20.31m last week

Under McConnell's leadership, that number should start falling soon, as assistance runs out and these people become homeless in winter and die.


And then the migrations began..
 
2020-11-25 11:19:14 AM  

reno301: My ignorant Trumper cousin assured me there are a lot of jobs out there, but people are making so much on unemployment they don't want to work.


yeah, tons of jobs

so many, in fact, some greedy people are working 3 or 4 of them! blame those people! don't blame the corporations and the rich! they haven't done anything wrong - all they've done is take their fair share of tax breaks while allowing wages to stagnate across the past 30 years and, i mean, we can all agree that's clearly no one's fault but the greedy greedy workers who hoard jobs like they're toilet paper because they need to pay for things like "food" and "water" and "housing."
 
2020-11-25 11:19:25 AM  

meat0918: It is terrifying to think that if Trump hadn't farked up the pandemic response we'd probably have him for another 4 years.


At least the economy probably would have been excellent then (as it was prior to Covid).

But, yeah, Trump had only not farked up the economy pre-Covid by sheer chance, and in fact the economy would have been even better without his capricious trade wars.
 
2020-11-25 11:23:32 AM  

HighTechHick: Someone please Farksplain how the stock market hit 30k while unemployment is still incredibly high and the outlook for the next few months is ominous at best? Is there really *that* much more stimulus expected?


The stock market recently soared on the GSA authorizing the transition funds (reducing the chances of, well, civil farking war), and of Biden picking Yellen, who is seen as a known, experienced, steady, competent, non-radical figure.

Overall, the Fed has been doing it's job propping up the stock market by basically buying any and all corporate debt, among other things.

The chances of stimulus are still low; the market will really go up if that changes.
 
2020-11-25 11:23:51 AM  
The company I work for (in an industry unaffected by the pandemic) recently announced the consolidation of several departments in the name of working "more collaboratively and efficiently". They did this after continually crowing about how profits and earnings have never been higher.  The team I work on is safe for the time being but we're petrified it won't be that way for long and a lot of people have been looking elsewhere for months. There's nothing.

Merry Christmas.
 
2020-11-25 11:24:42 AM  
Call the Guy:
A strike here, an AOC there -- change would be possible if more Americans believed in it. Too many think it's their own fault and kill themselves when really they should be throwing bricks thru a bank's window.

When I suggested on Facebook that people had a right to be angry and rioting was sometimes the only way to get people to listen to their pain and anger (this was during the George Floyd nationwide BLM protests) a life-long friend of mine, someone I grew up with and considered family told me that that kind of thinking was indicative of someone who had everything handed to them in life and then unfriended me. This was a couple of weeks after hooking him up with free IT service for his practice which in turn was a couple months after hooking him up with even more free IT service. This is after years of my dad hooking up his family with free electrical and boiler service and years of my family helping his out financially and emotionally whenever they needed help. 
Some people, just can't see things differently from how they want to them be.
 
2020-11-25 11:25:26 AM  

Geotpf: AsparagusFTW: Latest report out now.

As the title states, more layoffs have started. This report is a lagging report, meaning this data is a week to several weeks old. So we are just now seeing the effects of ~ month ago when temps dropped and people went indoors.

Full report here.

On the graph pictured below you can see it barely start to go back up. But it is now heading in the wrong direction.

[Fark user image 850x250]

[Fark user image 808x289]

[media.tenor.com image 220x121] [View Full Size image _x_]

Look, there are a whole bunch of sectors where full employment simply isn't possible until the virus is functionally gone.  The economy won't fully recover until that happens (unless we stimulus the fark out of things, which apparently we aren't going to do).

Sectors heavily affected include: Bars/restaurants/night clubs/discos/dance halls/pubs/comedy clubs/etc.; trains, planes, and (rental) automobiles; hotels/motels/convention centers/etc.; museums/amusement parks/other tourist attractions; and movie theaters/live theater/sports with live attendance/concerts.

These types of businesses (and businesses that supply these types of businesses with good or services) are farked until the virus is no longer a significant thing, either because they are shut down completely or partially or demand is down organically or both.  Nothing can be done to fix this except getting rid of the virus.


This. We will not have a fully functioning economy or society until vaccinations are deployed en masse. Anyone saying anything different is an idiot.
 
2020-11-25 11:26:37 AM  

reno301: My ignorant Trumper cousin assured me there are a lot of jobs out there, but people are making so much on unemployment they don't want to work.


This is partly true.  In fact, an example of such was posted in this very thread...

Turbo Cojones: My kid was let go from her PT retail job in March and has earned more cumulatively in UI than if she had continued dealing with Karens and plague rats.


Unemployment was topped up so much that some people were making more on it than on their actual jobs.  This is a real thing.  (Or was; I think the top up has expired; not sure.)
 
2020-11-25 11:26:48 AM  

Smelly Pirate Hooker: Be sure and mention this to any Republican family members you encounter tomorrow.


I plan to encounter as few as possible even remotely
 
2020-11-25 11:28:19 AM  

alitaki: Call the Guy:
A strike here, an AOC there -- change would be possible if more Americans believed in it. Too many think it's their own fault and kill themselves when really they should be throwing bricks thru a bank's window.

When I suggested on Facebook that people had a right to be angry and rioting was sometimes the only way to get people to listen to their pain and anger (this was during the George Floyd nationwide BLM protests) a life-long friend of mine, someone I grew up with and considered family told me that that kind of thinking was indicative of someone who had everything handed to them in life and then unfriended me. This was a couple of weeks after hooking him up with free IT service for his practice which in turn was a couple months after hooking him up with even more free IT service. This is after years of my dad hooking up his family with free electrical and boiler service and years of my family helping his out financially and emotionally whenever they needed help. 
Some people, just can't see things differently from how they want to them be.


Honestly some people are just selfish pieces of sh*t.
 
2020-11-25 11:37:02 AM  
The Biden collapse begins.  Weird that it is simultaneous with the Trump rally on wall street, but life is funny sometimes.
 
2020-11-25 11:42:54 AM  

Geotpf: reno301: My ignorant Trumper cousin assured me there are a lot of jobs out there, but people are making so much on unemployment they don't want to work.

This is partly true.  In fact, an example of such was posted in this very thread...

Turbo Cojones: My kid was let go from her PT retail job in March and has earned more cumulatively in UI than if she had continued dealing with Karens and plague rats.

Unemployment was topped up so much that some people were making more on it than on their actual jobs.  This is a real thing.  (Or was; I think the top up has expired; not sure.)


I made double my average monthly pay on unemployment.  Because I'm poor and already frugal as fark, I spent next to none of it and went from broke to ten grand in two months.

Most of which is gone now, because contrary to what the Trumper cousin believes, you don't magically get to keep unemployment when your boss calls you back to work.

I hadn't had a vacation (one weekend trip a year doesn't farking count) in six years.  I feel guilty saying it, but those were the happiest eight weeks of my adult life.  It was probably the closest thing to a retirement I'll ever have.

Wheee.
 
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