A growing side effect of the pandemic: Permanent job loss

Permanent layoffs have already begun spreading beyond industries directly affected by the pandemic. Nick Bunker, the director of economic research with the Indeed Hiring Lab, found that while permanent losses were concentrated in April in service-sector occupations that have been the hardest hit — waiters and retail salespersons, for example — they had spread by June throughout the labor market.

“What’s happening now is more companies that thought they could survive are giving up,” said Nicholas Bloom, an economics professor at Stanford. “The most painful time to lose your job may well be coming up.” Workers who remain unemployed over the long term end up increasingly less likely to return to the labor market for a number of reasons: Their skills may erode; they may lose motivation or employers may discriminate against them, Bloom said. Even after returning to the labor market, they could see effects like lower pay that linger throughout their careers.

Without more aid, business closures are likely only to increase, in turn keeping unemployment high. Afound that 84 percent of business owners who had received loans under the Paycheck Protection Program said they would exhaust the funding by this week. And only one in six reported being “very confident” they would be able to maintain their payroll without further aid.

😢

Facebook took down a post from President Trump's personal page of a Fox News interview in which he said that children are “almost immune” from COVID-19, citing its misinformation policy. THIS IS WHAT I AM TALKING ABOUT

For those refusing mask, you are no better than the woman who licked ice cream knowing she was sick and wanted to make others sick as well. You are doing the exact same thing even if you tell yourself you are not. STUPID ARROGANT AMERICANS.

So to all those that believe it's your right to not wear a mask, who appointed you executioner to the people you come in contact with? Would you like your family member to get sick/die just because you feel the need to be stupid?

And then there are politicians who believe its ok the elderly die so the economy can be saved. Or to spread false info contradicting your own experts and then bash the experts who actually have brains.

Thanks to China. U.S. economy was going real well before the pandemic.

Here come the demcorats making the case for universal income. Just watch

This is now the Trump recession.

Corona virus thanks to China. It’s not like a recession that was brought on by ourselves.

Thanks Don.

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