The increase in the unemployment rate is not only visible in the US but also in other countries who are still struggling with the rapid increase in COVID cases. It might worsen if the situation remains until the last quarter and I think it will be hard for the economy to recover while there's still a lot of new cases. But for sure, once the vaccine is already available, the US can recover from the decline they are facing right now.
As for political views, there will always be two sides, the one who's not satisfied with the performance and the once who still believe with the administration's capability in handling the pandemic. Now it's up for the people who will vote in the next election, and I think this crisis is a big lesson for everyone.
Topic: The number of jobless people has crossed one million in US - worrying sign? - page 6. (Read 611 times)
August 23, 2020, 06:13:34 AM
August 23, 2020, 05:55:42 AM
I doubt these numbers are true, as per the report of May almost 10% of US population lost their jobs which means 30+ millions people are jobless due to this corona virus.And yes this is really worrying sign but the stimulus has been a little relief for those people but for in long term there will be crisis in the growth and this is going to reflect in the upcoming presidental election in US.
August 23, 2020, 04:57:18 AM
I was scrolling through the news and suddenly read that the number (claims) of jobless people in US had crossed 1.1 million, and in my personal opinion this is bad news for the US economy which is already struggling to bounce back from Covid19 effects.
Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.
What do you’ll think is it right to say that the US V shaped economy won’t recover this year, or it’s only matter of few months before it recovers?.
While polls suggest that voter approval of his handling of the economy remains relatively strong, Democrats are blaming him for the crisis.
Source:
https://www.bbc.com/news/business-53852315?intlink_from_url=https://www.bbc.com/news/topics/c1038wnxypvt/us-economy&link_location=live-reporting-story
Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.
What do you’ll think is it right to say that the US V shaped economy won’t recover this year, or it’s only matter of few months before it recovers?.
Quote
While polls suggest that voter approval of his handling of the economy remains relatively strong, Democrats are blaming him for the crisis.
Source:
https://www.bbc.com/news/business-53852315?intlink_from_url=https://www.bbc.com/news/topics/c1038wnxypvt/us-economy&link_location=live-reporting-story
The opposition would continually blame the party in power no matter how well he has done. It's one of their cardinal duty as an opposition party because that is a key component of them ensuring that the ruling is kept on their toes and also to market themselves for the next election. So their own opinion at this point is more political than reality.
A million unemployment rate is massive forms country like the US but in the real sense it's still doing way better than most countries across the world battling with the menace of Coronavirus and the economy is not expected to be in full gear just yet.
August 23, 2020, 04:09:32 AM
That was seriously alarming to think that the number of unemployed people in US have already reached more than a million all due because of the existing covid-19 pandemic that have caused the business establishments, offices and other workplaces to temporarily close for awhile to prevent the further spread of the virus that can be potentially gained on places where there is a large scale of working people sharing on a working area.
For sure not only US is experiencing that thing because honestly here in our country around 42% of people are unemployed because of the same reasoning. This is bad because this drag down the productivity rate of the country which also pulls out and brought economic declination in our country. At that rate the US and even other countries facing the threat of pandemic, we have nothing else to do but just to follow the "new normal" approach to somehow lessen the rate of unemployment since business establishments and other work places are already allowed to get back into operation but just for around 30 to 50 percentage working capacity that is already good to somehow boost up to progress the economic state of the country and help some people to get back to work minimizing the amount of jobless people.
For sure not only US is experiencing that thing because honestly here in our country around 42% of people are unemployed because of the same reasoning. This is bad because this drag down the productivity rate of the country which also pulls out and brought economic declination in our country. At that rate the US and even other countries facing the threat of pandemic, we have nothing else to do but just to follow the "new normal" approach to somehow lessen the rate of unemployment since business establishments and other work places are already allowed to get back into operation but just for around 30 to 50 percentage working capacity that is already good to somehow boost up to progress the economic state of the country and help some people to get back to work minimizing the amount of jobless people.
August 23, 2020, 04:06:57 AM
After a few days of Coronavirus the unemployment rates in US rised to around 20% but after a few days the charts neutralized and went to 10% again but I thought that number was manipulated by the US government to show a great picture for the upcoming elections. Now once again number has risen to around 12% which obviously means US is in great trouble again. But truth is that this was bound to happen. No corporation would pay you if they are not getting any profits. No government can do anything about it.
August 23, 2020, 02:45:45 AM
The fall in unemployment levels some weeks ago was due to the premature easing of lockdown, this meant businesses could open back up and staffs could return to work, but the numbers of infected people kept rising and businesses were forced to shut down, meaning the jobs regained were again lost. It was a band-aid strategy to cover the situation and not a solution to tackle the current economic crisis.
A V-shaped economic recovery is unlikely. The pandemic was handled poorly by the U.S government, and as the numbers keep rising, more businesses would close up, less money would circulate, more money would be printed to stimulate spending, inflation rises and the economy keeps contracting; The recovery time would take much longer, even if an effective vaccine was eventually discovered, probably U-Shaped, with a wide base line.
A V-shaped economic recovery is unlikely. The pandemic was handled poorly by the U.S government, and as the numbers keep rising, more businesses would close up, less money would circulate, more money would be printed to stimulate spending, inflation rises and the economy keeps contracting; The recovery time would take much longer, even if an effective vaccine was eventually discovered, probably U-Shaped, with a wide base line.
August 23, 2020, 02:04:51 AM
I was scrolling through the news and suddenly read that the number (claims) of jobless people in US had crossed 1.1 million, and in my personal opinion this is bad news for the US economy which is already struggling to bounce back from Covid19 effects.
Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.
What do you’ll think is it right to say that the US V shaped economy won’t recover this year, or it’s only matter of few months before it recovers?.
While polls suggest that voter approval of his handling of the economy remains relatively strong, Democrats are blaming him for the crisis.
Source:
https://www.bbc.com/news/business-53852315?intlink_from_url=https://www.bbc.com/news/topics/c1038wnxypvt/us-economy&link_location=live-reporting-story
Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.
What do you’ll think is it right to say that the US V shaped economy won’t recover this year, or it’s only matter of few months before it recovers?.
Quote
While polls suggest that voter approval of his handling of the economy remains relatively strong, Democrats are blaming him for the crisis.
Source:
https://www.bbc.com/news/business-53852315?intlink_from_url=https://www.bbc.com/news/topics/c1038wnxypvt/us-economy&link_location=live-reporting-story
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