The Stock Market Is Not The Economy Thread II

[Boyiee]

498k new unemployment claims

One is me!

[Mertron]

here we go fellas we’re kicking people out of their houses and were stopping unemployment

https://twitter.com/breaking911/stat...598998020?s=21

[Fondue]

What are people's rationales behind not looking for a job now? You probably aren't going to die from covid if you go to work and there are clearly plenty of jobs to be had

The conditionless unemployment needs to end at some point

[Salodin]

What are people's rationales behind not looking for a job now? You probably aren't going to die from covid if you go to work and there are clearly plenty of jobs to be had

The conditionless unemployment needs to end at some point

People are looking for work. The ones complaining are the people who want to pay minimum wage or close to it, but can't find anyone unless people are literally forced to in order to feed themselves. If the jobs are worth it they wouldn't need state assisted desperation to fill their roles.

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[Fondue]

If the jobs are worth it they wouldn't need state assisted desperation to fill their roles.

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jej'd
anecdotal information here but most of our customers and other business owners we've spoken with all pay at least $15 and still struggle to find anyone but r*tards from temp companies to fill entry level positions

maybe we shouldnt have overincentivized sitting on your ass for the last almost 1.5 years for people who really didnt need to

[Salodin]

As long as you know it's anecdotal and that that's actually not what's going on.

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[Mrbeansman]

The conditionless unemployment needs to end at some point

The expanded UI benefits are 100% not going to be extended again after August.


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[Salodin]

Imagine using state power to increase suffering of your constituents when the program was expiring by September anyways

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[Fondue]

yeah fuck jobs and working and shit

[kuronosan]

yeah fuck jobs and working and shit

Needs more context.

[6souls]

https://finance.yahoo.com/news/april...181552009.html

Number of new payrolls added in April is below expectations and the unemployment rate has risen.

The U.S. economy brought back far fewer jobs than estimated in April, and the unemployment rate unexpectedly increased.

The Labor Department released the April jobs report Friday morning at 8:30 a.m. ET. Here were the main results from the report, compared to consensus data compiled by Bloomberg:

• Non-farm payrolls, April: +266,000 vs. +1.000 million expected and a revised +770,000 in March
• Unemployment rate, April: 6.1% vs. 5.8% expected and 6.0% in March
• Average hourly earnings, month-over-month, April: 0.7% vs. 0.0% expected and -0.1% in March
• Average hourly earnings, year-over-year, April: 0.3% vs. -0.4% expected and 4.2% in March

Non-farm payrolls rose for a fourth straight month but at a sharply slower-than-expected clip, even as easing social distancing standards across the country helping support the recovery. March's non-farm payroll gain was also revised sharply lower, showing a rise of 770,000 versus the 916,000 previously reported. February's payrolls were revised up by 68,000 to 536,000.

Many Americans remain on the sidelines of the labor market, and will likely continue to do so until concerns around the pandemic recede further. But with more than 40% of the population already injected with at least one dose of a COVID-19 vaccine, additional progress is unlikely to come quite as quickly, and many epidemiologists are now predicting the U.S. will never entirely reach "herd immunity." The labor market's ability to rebound further as businesses focus on risk mitigation rather than total elimination will be a key focus going forward.

"A big segment of the workers are still concerned about the pandemic. We estimate roughly 1.6 million workers want a job but didn't look for a job recently because they were still concerned about contracting the virus, or other factors around the pandemic," Joe Song, Bank of America U.S. economist, told Yahoo Finance on Wednesday. "On top of that, you had some workers citing that childcare was still a big factor for their decision not to participate in the labor market."

[Kaslo]

jej'd
anecdotal information here but most of our customers and other business owners we've spoken with all pay at least $15 and still struggle to find anyone but r*tards from temp companies to fill entry level positions

maybe we shouldnt have overincentivized sitting on your ass for the last almost 1.5 years for people who really didnt need to

Maybe we shouldn't have killed off a half-million of potential workers :/

[arus2001]

Alternatively, shit jobs still need to pay and incentivize more. If the entry level positions are only attracting stupid people, it tells me the smart ones are seeing something wrong somewhere. Potential coworkers talking shit about the potentials being one such clue. But I guess we're at that point of supply in demand in capitalism where it swinging toward the benefit of workers is a bad thing because the invisible hand isn't stroking wall street wang.

[Krandor]

Maybe we shouldn't have killed off a half-million of potential workers :/

Like 80% of deaths in the US were in the 65+ age group weren't they?

Not exactly "potential workers"

[6souls]

Like 80% of deaths in the US were in the 65+ age group weren't they?

Not exactly "potential workers"

Still 100k~ below that age have died.

https://www.cdc.gov/nchs/nvss/vsrr/c...ekly/index.htm

[NynJa]

Not sure what you're trying to refute. He said ~80% of the 500k were in the 65+ age group, 80% of 500k would be 400k, leaving 100k people below that age group.

[Salodin]

Leisure and hospitality gained jobs, which are the sectors people complain about when they say these people would rather collect UI than work.

It was transportation, shipping, and manufacturing that was pretty lame. Other areas as well. Pretty sure all those jobs already pay more than whatever UI does.

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[Roranora]

yeah fuck jobs and working and shit

honestly this is really deep and wise

but yeh you wanna fling anecdotes many of the jobs on offer are shit. i never stopped working or looking for a better job and (so far) the only offers i've had are for similarly shitty jobs. i've never applied for/received UI but i damn sure would've if i could've

[NynJa]

Its big bootstraps energy.

[Kaslo]

Like 80% of deaths in the US were in the 65+ age group weren't they?

Not exactly "potential workers"

But, they are greeters for every Wal-Mart