It's the economy, stupid! (Finance-related news)

[Salodin]

Society was designed to have 1 adult watching 15-30kids at a time while the parents worked productively elsewhere. We ain't setup for each household actually having to take care of their own kid throughout the day.

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[Guyverarmor]

Well yes I mean I work in IT and I won't be losing my job anytime soon but with a 10yo, 8yo, 3yo, and 7month old on our property the kids all are extremely time consuming and even with my mom living with us and handling the majority of the school work with the kids it is really hard to work part time let alone full time. Usually on a typical day my mom takes three boys and my wife takes the baby and I work. Then as soon as I am done working I help my mom with the boys. It is a crazy amount of effort.

I know how you feel on the hands being full. Son is a special needs kid so while I am working from home currently, I'm still helping out with him too. And then as soon as the shift ends, the 2nd half picks up to full time.

The effort is real, I know it all too well. Not four kids well, but our son def needs more than standard child attention.

[djzombie]

I know how you feel on the hands being full. Son is a special needs kid so while I am working from home currently, I'm still helping out with him too. And then as soon as the shift ends, the 2nd half picks up to full time.

The effort is real, I know it all too well. Not four kids well, but our son def needs more than standard child attention.

We have a 9 and 14 year old and while they both have chrome books and are doing the remote learning thing its basically like their teacher isn't present. The 14 year old works mostly independently which is great, but the 9 year old needs constant supervision or she's off on youtube watching videos. She also needs constant help with things she doesn't understand and that her teacher isn't helping her with. It's almost like trying to teach math in a google doc is a poor plan.

I also work from home full time, even prior to covid, so the kids being home and me playing home school teacher takes me away from my work quite a bit. Between them needing me to play teacher, referee, chef, and concierge, its pretty fucking distracting.

[Guyverarmor]

We have a 9 and 14 year old and while they both have chrome books and are doing the remote learning thing its basically like their teacher isn't present. The 14 year old works mostly independently which is great, but the 9 year old needs constant supervision or she's off on youtube watching videos. She also needs constant help with things she doesn't understand and that her teacher isn't helping her with. It's almost like trying to teach math in a google doc is a poor plan.

I also work from home full time, even prior to covid, so the kids being home and me playing home school teacher takes me away from my work quite a bit. Between them needing me to play teacher, referee, chef, and concierge, its pretty fucking distracting.

Your 9 year old pretty much is mine 10 year old ! I've had plenty of issues with they have been using Google Classroom ( especially with math ). Yeah I noticed I got to get up real early (like start at 0530 for work) and get as much done as I can on projects before my son really gets going. Luckily the wife is awesome in helping when I got calls I have to attend to ( lately which has been a lot due to some new network build deployments I am doing for the ISP in NYC )

[zoobernut]

I just find it interesting both from a personal level and a larger sense. This whole thing is going to have a longer impact on the economy with respect to working parents and child care situations. I wonder if anything will change there. Personally I think it is stupid that our economy in its current state pretty much requires two income families in so many situations and that is broken. I also think that childcare and school are both not very functional the way they are set up and looking at the options that schools have to be able to reopen it is going to really suck for the students going to school. Not only that if they are lucky enough to reopen school students might only be at school for 3 hours a day which isn't enough for two parents to both work and stagger their schedules like you can do with a 5 or 6 hour school day.

The implications of this are pretty big in my opinion and I haven't seen much discussion about this aspect of the whole thing.

[Mrbeansman]

As a school bus driver I'm not looking forward to what the coming school year will entail.

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[Tyche]

After going down 20% on the year 6 weeks ago, my 403b almost back to even.

[Zealot]

Apparently we were expected to shed 7.5M jobs and instead added 2.5M?

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[Salodin]

Apparently we were expected to shed 7.5M jobs and instead added 2.5M?

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Huh?

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[Zealot]

https://www.cnbc.com/2020/06/05/jobs...-may-2020.html

Economists were braced for an unemployment rate of almost 20% and instead it dropped to 13.3%.

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[archibaldcrane]

I...don't understand these figures at all. They completely contradict the unemployment filings.

[Salodin]

So how many months until those numbers get readjusted down? Lol

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[Salodin]

https://twitter.com/mattyglesias/sta...510718466?s=19

Lol

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[archibaldcrane]

So, I guess one possible explanation sort of is that when the first batch of PPP money got distributed a bunch of employers "hired back" their workers, even if it was to do nothing since the PPP was paying for the payroll. But that would still show up in UI filings...

And this number is from a survey around May 12th, when stuff was more closed down than it is now...

[Zealot]

It says half the "new" jobs were hospitality and restaurant workers being brought back on.

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[synistar]

iirc, Georgia, Florida, Wisconsin, Texas are the big states that opened late April/early May. I wouldn't doubt that they rehired a bunch at that time. There were a lot fewer new filings during the first 2 weeks of May.

Now what information is usually pushed aside are the people who stopped looking for jobs and are removed from the unemployment equation. Probably lowers the unemployment rate a fair bit.

[Salodin]

Yeah honestly for florida it makes sense. We're pretty much opened up, those who didn't fold, with just serious distancing going on, at least locally in the south Florida area. Business is slower but super steady. Even tattoo shops are open.

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[Salodin]

https://twitter.com/DanielStrauss4/s...225613830?s=19

Which makes sense

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[Salodin]

https://twitter.com/sarahkliff/statu...331900931?s=19

Fucking lul

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[TsingTao]

Just went to the dentist yesterday. They have been open for a week after an eight week shutdown.

So how many months until those numbers get readjusted down? Lol

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2-3? Gotta make sure everything looks great before the election.