This chart is just getting crazier and crazier: https://pbs.twimg.com/media/EUmW1PgXYAEdggm?format=png&name=...
Additional 6.6M File for Initial Unemployment Benefits [pdf]
41–50 of 563 posts
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#42Earlier quoted context omitted.
I'm also hearing this morning that we've hit the 10% mark. I also heard the same economist say "The economy is collapsing, and it's a global collapse". I don't even need coffee to be alert the rest of the day...
Any speculations on how bad is this going to get? Should I stock up on TP, on food, or on vodka and ammo?
No.
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#43Earlier quoted context omitted.
To what type of positions ? So like a barber for a random secretary or mail room etc? Or just all up and down the chain
To Software Engineer, lvl 3 support, Data Scientist, etc. Roles that they would almost certainly fail in without previous experience.
One of the requirements for unemployment benefits is that you are actually looking for work and can proof a certain number of applications per week. It makes sense to just randomly apply as long as the applications count towards the minimum number needed to stay eligible.
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#44The odd thing to me about it is that futures seem largely positive. Is it because the CAREs act or dropped labor is supposed to equal money not spent and thus meant to shield companies ( and investors )? I honestly do not get how market interprets it as good news.
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#45Earlier quoted context omitted.
I have heard people say that it was an advance but found conflicting info, can you source?
It is free money, which is technically a tax credit for the 2020 tax year. Since that would not be filed for another year, they advanced the issue date based on previous tax returns. If you made $150k last year as a single person but just lost your job and end up out of work for 6 months, you won’t see your credit until you do your taxes next year. It is not an advance on your normal tax return.
Source?
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#46Earlier quoted context omitted.
I'm also hearing this morning that we've hit the 10% mark. I also heard the same economist say "The economy is collapsing, and it's a global collapse". I don't even need coffee to be alert the rest of the day...
Any speculations on how bad is this going to get? Should I stock up on TP, on food, or on vodka and ammo?
Food, non-perishables, fuel? Yes. Firearms and ammo? To each their own. We did, but we're more rural.
Our concern is a supply chain meltdown when you have millions infected and sick. I would rather be prepared and not need something, then need something and not be prepared.
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#47My job has been inundated with applications from people who are not even in tech in any way (think like barbers & home depot workers). I see now why so many companies use automation to filter out resumes.
Edit - covered by dakna below.
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#48Unemployment benefits have been significantly expanded under the Coronavirus aid bill. The benefit amounts will sound small if you're living in an expensive city like SF or Seattle, but $600/week from the federal government and a similar amount from state unemployment insurance means that unemployment benefits can pay up to an equivalent of $50-60K/year right now. That goes a long way in most parts of the country, es…
What will the employees, in the US at least, do for health insurance? A pandemic is when you need it. These employees will be strained to pay for COBRA.
I fear that we will see revolutions in countries where this is not contained, from either a health or economic perspective. An old saying is that you should buy stocks when there is blood in the streets. I hope that doesn't become literal.
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#49I hope that tech industry employees do not feel immune to this. I encourage you to take a look at your customer base and think very critically about where that money is actually coming from.
As leadership at my institution meets to discuss long-term impacts of other people not spending money on us, the first items on the chopping blocks are the super-convenient, but not super-mission critical SaaS that can be replaced by slower, but still effective processes.
The first items. Really, the only items right now. We're 100% not looking at cutting the people working here. This is new and different. 2011 was the last reduction in our labor force, and we only considered human cuts at that time.
Re: Additional 6.6M File for Initial Unemployment Benefits [pdf]
#50Earlier quoted context omitted.
..and an additional $60,0000 national debt per household.
It's weird how the national debt is only a problem when the proposal is helping ordinary people and never a problem when the proposal is to go to war overseas.
I don't like either and think both are largely wastes of money. In both cases there are always the very few poorest who need help from others and there are always a very few situations where we need to go to war. Would you please stop with the tu quoque now?