1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

The economy

Discussion in 'BBS Hangout: Debate & Discussion' started by NewRoxFan, Aug 18, 2019.

  1. RayRay10

    RayRay10 Houstonian

    Joined:
    Apr 14, 2015
    Messages:
    4,629
    Likes Received:
    11,030
    https://patch.com/texas/houston/coronavirus-texas-unemployment-claims-top-1-5m

    Coronavirus: Texas Unemployment Claims Top 1.5M
    Over 250,000 Texans filed for unemployment during the week ending April 28 as the new coronavirus continues to impact jobs.

    More than 250,000 Texans (254,199) applied for unemployment during the week ending April 25 as the new coronavirus continues to impact jobs across the country. Nationally, 3.8 million Americans filed for unemployment, a slight decrease from the prior week, the latest figures from the Department of Labor show.

    As states began implementing "stay-at-home" orders in response to the pandemic in March, many businesses were forced to lay off and furlough workers due to a significant lack in revenue. In Texas, starting Friday, retail stores, restaurants, movie theaters and malls will be allowed to operate at partial capacity, Gov. Greg Abbott announced earlier this week. The openings on Friday are part of Abbott's plan to have a phased reopening of the world's 10th largest economy.

    Nationally, some 30.3 million Americans have filed for unemployment in the six-week period since the coronavirus began affecting jobs. In Texas, the number of workers who have filed for unemployment in that same period stands at over 1.5 million, according to the Department of Labor.

    With more employers cutting payrolls to save money, economists have forecast that the unemployment rate for April could go as high as 20 percent. That would be the highest rate since it reached 25 percent during the Great Depression.

    This week, the government estimated that the economy shrank at a 4.8 percent annual rate in the first three months of this year, the sharpest quarterly drop since the 2008 financial crisis. Yet the picture is likely to grow far worse: The economy is expected to contract in the April-June quarter by as much as 40 percent at an annual rate. No previous quarter has been anywhere near as weak since the government began keeping such records after World War II.

    "As states begin the process of reopening and Americans return to work, today's unemployment report reflects once again the hardship caused by the coronavirus pandemic," Labor Secretary Eugene Scalia said in a statement.

    "The President's actions and policies will continue to support American workers during this crisis. All 50 states are now delivering the $600 additional weekly unemployment benefit provided by the CARES Act. The Department has disbursed more than three-quarters of a billion dollars to States to help them deliver this relief as quickly as possible as Americans follow the guidance of public health officials to 'slow the spread.' Looking ahead, as workplaces reopen, we must ensure that individuals transition from unemployment back into the workforce. Key to this process will be workplace safety. The Occupational Safety and Health Administration has been at the forefront of workplace safety since January, delivering important resources and guidance to businesses to help them keep workers safe, and investigating and responding to worker complaints."
     
    No Worries likes this.
  2. SamFisher

    SamFisher Contributing Member

    Joined:
    Apr 14, 2003
    Messages:
    58,732
    Likes Received:
    36,182
    The economy is being destroyed and because the stock market is bouncing around and not falling legislators and policy makers look at their IRA and assume things are kind of ok.

    Things are so ****ing far from ok
     
    B-Bob, RayRay10 and Invisible Fan like this.
  3. NewRoxFan

    NewRoxFan Contributing Member

    Joined:
    Feb 22, 2002
    Messages:
    53,825
    Likes Received:
    53,620
  4. NewRoxFan

    NewRoxFan Contributing Member

    Joined:
    Feb 22, 2002
    Messages:
    53,825
    Likes Received:
    53,620
  5. NewRoxFan

    NewRoxFan Contributing Member

    Joined:
    Feb 22, 2002
    Messages:
    53,825
    Likes Received:
    53,620
    Fed's Kashkari says monthly jobs report likely to understate COVID job losses: NBC
    https://www.reuters.com/article/us-...understate-covid-job-losses-nbc-idUSKBN22J1R9
     
    RayRay10 likes this.
  6. rocketsjudoka

    rocketsjudoka Contributing Member
    Supporting Member

    Joined:
    Jul 24, 2007
    Messages:
    53,675
    Likes Received:
    41,562
    RayRay10 likes this.
  7. NewRoxFan

    NewRoxFan Contributing Member

    Joined:
    Feb 22, 2002
    Messages:
    53,825
    Likes Received:
    53,620
    RayRay10 likes this.
  8. NewRoxFan

    NewRoxFan Contributing Member

    Joined:
    Feb 22, 2002
    Messages:
    53,825
    Likes Received:
    53,620
  9. Ziggy

    Ziggy QUEEN ANON

    Joined:
    Jun 11, 1999
    Messages:
    36,740
    Likes Received:
    13,133
    They were gonna file regardless of the virus, let's be honest.
     
    RayRay10 likes this.
  10. No Worries

    No Worries Contributing Member

    Joined:
    Jun 30, 1999
    Messages:
    29,850
    Likes Received:
    16,704
  11. Air Langhi

    Air Langhi Contributing Member

    Joined:
    Aug 26, 2000
    Messages:
    21,617
    Likes Received:
    6,244
    14.7% seems low. Haven't we lost like 30 million jobs. The government ****ed up by giving money to these companies. Just directly pay the people.
     
    Rocket River and B-Bob like this.
  12. RayRay10

    RayRay10 Houstonian

    Joined:
    Apr 14, 2015
    Messages:
    4,629
    Likes Received:
    11,030
    Some of them might have applied for unemployment, and then been hired somewhere else or ended up not getting benefits and not attempting to get them again.
     
    Rocket River likes this.
  13. SamFisher

    SamFisher Contributing Member

    Joined:
    Apr 14, 2003
    Messages:
    58,732
    Likes Received:
    36,182
  14. No Worries

    No Worries Contributing Member

    Joined:
    Jun 30, 1999
    Messages:
    29,850
    Likes Received:
    16,704
    I think that furloughed employees are not considered unemployed, but still can get unemployment benefits???
     
    RayRay10 likes this.
  15. Newlin

    Newlin Member

    Joined:
    May 22, 2015
    Messages:
    8,031
    Likes Received:
    9,727
    Did we really have the “strongest economy in the history of the world” before the covid pandemic?

    Trump keeps saying this, but is it true? Unemployment was low, but did we really have the strongest economy ever?
     
    Rocket River likes this.
  16. LabMouse

    LabMouse Member

    Joined:
    Jun 27, 2008
    Messages:
    3,662
    Likes Received:
    251
    No, Bill Clinton time had a better economy, people keep switch jobs for a high salary.


     
    Rocket River likes this.
  17. SamFisher

    SamFisher Contributing Member

    Joined:
    Apr 14, 2003
    Messages:
    58,732
    Likes Received:
    36,182
    No.

    Doesn't really matter. Now we have the worst in the history of the world. And it's due to Trump-Pence 2020.
     
    RayRay10 likes this.
  18. ROXTXIA

    ROXTXIA Contributing Member

    Joined:
    Apr 25, 2000
    Messages:
    20,024
    Likes Received:
    11,694
    FOUR MORE YEARS! FOUR MORE YEARS! Signed,
    -TJ
    Commodore
    big_texxxxxxxxxxxxx
    basso
    dachuda

    etcetera
     
    RayRay10 likes this.
  19. NewRoxFan

    NewRoxFan Contributing Member

    Joined:
    Feb 22, 2002
    Messages:
    53,825
    Likes Received:
    53,620
  20. The Real Shady

    The Real Shady Contributing Member

    Joined:
    Jun 8, 2000
    Messages:
    17,170
    Likes Received:
    3,966
    The left would like to see that number go to 50% by continuing to stay at home. Can't complain about unemployment when you want to keep every business from opening up.
     

Share This Page

  • About ClutchFans

    Since 1996, ClutchFans has been loud and proud covering the Houston Rockets, helping set an industry standard for team fan sites. The forums have been a home for Houston sports fans as well as basketball fanatics around the globe.

  • Support ClutchFans!

    If you find that ClutchFans is a valuable resource for you, please consider becoming a Supporting Member. Supporting Members can upload photos and attachments directly to their posts, customize their user title and more. Gold Supporters see zero ads!


    Upgrade Now