Economy of the Day
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- MondoMorphic
Discussion about the death trap roller coaster that is the US and World economy.
- MondoMorphic1
Utopian's post from the America is Fucked thread:
Over 40 million Americans have filed for unemployment during the pandemic—real jobless rate over 23.9%
US Unemployment Rate
Sep 2019, 3.5 - Actual
Oct 2019, 3.6 - Actual
Nov 2019, 3.5 - Actual
Dec 2019, 3.5 - Actual
Jan 2020, 3.6 - Actual
Feb 2020, 3.5 - Actual
Mar 2020, 4.4 - Actual
Apr 2020, 14.7 - Actual
May 2020, 20.4 - Forecast (Actual 23.9% Released: 05.28.20)
Jun 2020, 23.1 - Forecast
Jul 2020, 24.4 - Forecast
Aug 2020, 24.8 - Forecast
Sep 2020, 25.0 - Forecast
Oct 2020, 25.1 - Forecast
Nov 2020, 25.2 - Forecast
Dec 2020, 25.2 - Forecast- A hugely significant topic that was going to get lost in the AiF thread.MondoMorphic
- The effects of this will be devastating in the long run, and immeasurable to the nation's psyche, and likely to cause far more damage beyond the economy. Tragicmonospaced
- nb1
- monospaced1
In stark contrast, there is a huge group of Americans whose jobs remain secure, employers embraced flexibility, and can work from home.
U.S. savings rate hits record 33% as coronavirus causes Americans to stockpile cash, curb spending
https://www.cnbc.com/2020/05/29/…- I'm not stockpiling cash, there's just nothing to spend it on anymore.nb
- If American's save more will this actually help the economy?utopian
- I don't really know what the long term affect will be. Hard to say.monospaced
- I think the point I'm making is that while 25% of people are losing jobs, many more have all their money, and more.monospaced
- It's a stark contrast, the difference between the two groups. One will be able to spend like crazy when this is over.monospaced
- It's a good point monospaced. I think it all depends on how quickly we can return safely to normal life. Very difficult to judge right now.yuekit
- I predict that there will be a much larger divide between socioeconomic classes than ever before.monospaced
- monospaced0
The article I posted didn't really get to the point fully. While 25% of the world loses their jobs, just as many — or more — didn't, and are stockpiling cash. When the world gets back on its feet, and the economy starts moving again, there will be a lot of money pent up ready to go. And there will be a new outlook on preparing for emergencies, etc.
- Businesses here in TX saw that effect to some extent when the quarantine ended.MondoMorphic