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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

French Rage said:
I'm tiring of people living large off of $24K a year!
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I work with people who tell me Food Stamps is moral hazard. And they point to Biblical verses to back their argument up; no I'm not kidding, sadly.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Kepler said:
I work with people who tell me Food Stamps is moral hazard. And they point to Biblical verses to back their argument up; no I'm not kidding, sadly.
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You didn't think Jesus gave away all that bread and fish for free did you?
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

16.6 Million people have submitted for their initial unemployment claim in the last three weeks.

Another five million is expected again today.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Here we go. 5.3 Million more people filed initial jobless claims last week. :eek:


Continuing claims up to 11.9 Million. Continuing claims has some lag in it.

That puts us at 21.9 Million people have filed for unemployment in the last month.

We're looking at 12% to 20% unemployed in the US. :eek:
 
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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
Here we go. 5.3 Million more people filed initial jobless claims last week. :eek:


Continuing claims up to 11.9 Million. Continuing claims has some lag in it.

That puts us at 21.9 Million people have filed for unemployment in the last month.

We're looking at 12% to 20% unemployed in the US. :eek:
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Do those numbers include Work Share programs? We are implementing a Work Share reduction at 'my' company, where staffing is reduced by "x-amount" (we are currently reducing the workforce 20%... one day 'off' per week), and eligible for unemployment for that lost time. A much more palatable option than a full-blown layoff, but it still required me to submit a UI claim (filed it this week)... albeit for "part time" unemployment. If those numbers do include filings for these Work Share programs, the overall picture may not as bleak (we hope!).

Cheers(???) :confused:
~TTF
 
Transplanted Tiger Fan said:
Do those numbers include Work Share programs? We are implementing a Work Share reduction at 'my' company, where staffing is reduced by "x-amount" (we are currently reducing the workforce 20%... one day 'off' per week), and eligible for unemployment for that lost time. A much more palatable option than a full-blown layoff, but it still required me to submit a UI claim (filed it this week)... albeit for "part time" unemployment. If those numbers do include filings for these Work Share programs, the overall picture may not as bleak (we hope!).

Cheers(???) :confused:
~TTF
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I believe it does, as it's just everyone who filed an initial claim of unemployment.

The lagging number (I am unsure of how long it is delayed, maybe a week? Two weeks?) is the continuing unemployment claims of those who continue to draw unemployment.

I don't know how the reduced hours would work, or the eligibility requirements.

I do recall that if you earn any money from working up until the amount you would get from unemployment, unemployment will reduce their payout to fill the gap until their cap. Once you exceed the weekly cap, you're on your own.
From the State of Illinois:
Partial Benefits–Part-Time Work You may claim some benefits for a week if you work less than full-time because of lack of work. Your earnings for the week must be less than the weekly benefit amount (this amount does not include a dependent allowance) you would receive if you were totally unemployed for the week. You must report all of your earnings from part-time work.
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I will say I am unsure how the unemployment rules work currently under these emergency changes.
 
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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

I did hear an interesting tid-bit on CNBC this afternoon: some companies (especially the ones who have laid employees off) have admitted they will be able to "reset" the wages for employees they re-hire, rolling back some of the pay increases over the last few years and setting lower starting pay because of the glut of unemployed people looking for work.
 
aparch said:
I did hear an interesting tid-bit on CNBC this afternoon: some companies (especially the ones who have laid employees off) have admitted they will be able to "reset" the wages for employees they re-hire, rolling back some of the pay increases over the last few years and setting lower starting pay because of the glut of unemployed people looking for work.
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America! Yeah! Greatest nation there ever was
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
I did hear an interesting tid-bit on CNBC this afternoon: some companies (especially the ones who have laid employees off) have admitted they will be able to "reset" the wages for employees they re-hire, rolling back some of the pay increases over the last few years and setting lower starting pay because of the glut of unemployed people looking for work.
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This is my current job in a nutshell. Office Management is licking their chops at the amount of applications they will be getting if this continues for a while. As of now, if you can pass a drug test and not threaten to bomb the place, you will be hired. The job has a 90%+ failure rate within the first 90 days however (probably 60% of that is people deciding they don't want to work on a forklift in a fridge/freezer, 30% can't show up on time for the first 90 days, and 10% drive a lift like a moron). Basically they have slowly turned over longtime staff (5+ years) at the same rate that new hires make it over a year. I'm sure management is looking forward to actually screen people ahead of time AND possibly retain them past the 1 year mark...
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I mean, there's *nothing* else going on where DOD resources might be useful. <a href="https://t.co/5IWPnMe7O2">https://t.co/5IWPnMe7O2</a></p>— Rick Wilson (@TheRickWilson) <a href="https://twitter.com/TheRickWilson/status/1250950615519375364?ref_src=twsrc%5Etfw">April 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Holy hell. <a href="https://twitter.com/GovRonDeSantis?ref_src=twsrc%5Etfw">@GovRonDeSantis</a> just admitted only 33,623 unemployed Floridians, out of 825,000 applicants since mid-March, have actually been sent unemployment checks. <br><br>That's 4%. <a href="https://t.co/0TK72XxFnq">pic.twitter.com/0TK72XxFnq</a></p>— Kevin Cate (@KevinCate) <a href="https://twitter.com/KevinCate/status/1250898423584358403?ref_src=twsrc%5Etfw">April 16, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

It absolutely is. They gutted it and only have enough for a few weeks. They’ll need bailing out.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

My company is asking if any are interested in taking a Voluntary Time Off day per week (so, the 80/80 thing). Thinking long-term (would rather have a job in hand, even though I am a specialized job, can't be too careful) I said I would until the end of May, provided I don't have a PTO day scheduled (NOT working 4 business days a week would drive me nuts).

Dunno if it's going to happen, but they are really looking into it. The last major recession, they also did this, and the whole staff coordinated, especially the forklift jockeys, and rotated VTO, so everyone got a shot at a free day off, and everyone kept their jobs. The difference between last week and this week, per business, is night and day.
 
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