On the scale of tens of millions of people?
There’s about to be a new wave of unemployment this week. The newly unemployed won’t take kindly to being told they are going on vacation while seeing the benefit cut that they never got because their company was able to stay open longer.
You might have a point if UE hadn’t started falling dramatically within weeks of the first stimulus payments.
Of course you don’t, but you could have.
Yeah, the only thing that the extra unemployment is doing for me is that I’m not going to have to exhaust my life savings, including the mortgage down payment for the house I was going to buy this year, to survive.
I had my ■■■■■■■ three months of rent and expenses saved up for a rainy day. The service industry will breed that habit into you. But we’re looking at months more of this.
2 Likes
Just had the biggest week of new unemployment claims in months last week. You were saying?
3 Likes
The end being when the employer calls.
So what? Many of those businesses are “open” and offering them less hours. Someone who was getting 40 is cutting their own throat going back for 20. And it’s not their fault.
Waitresses survive off of tips. If I call them back to do take out only, do they have an opportunity to earn a good tip? No.
If we can spend a $billion a day to bomb goat rapers, I got no problem if some waitresses get over for a few months.
2 Likes
The July jobs report is going to be a massacre. The last report cut off in mid-June, right before the virus surged again and the country started shutting down again.
I was running thinner than I normally do because of expenses my wife and I have had preparing for retirement in a decade.
I usually have six months of cushion set aside because I have been a freelancer all my life. but this hit just as I was ready to build that back up.
So dipping into the 401k I go.
Even if I had the cushion money… it would have been gone by now.
I wi be lucky to come out with a third of what I normally make in a year for 2020 and then I have to pay back the 401k loan.
So yeah… great vacation.
2 Likes
…and before the ppp ran out
1 Like
If this is your first home purchase, a bit of unsolicited advice. 3 months is not enough.
1 Like
Well they had to featherbed the nests of companies owned by Trump donors and Trump family members. One of my favorite restaurants and a bar owned by a dude I’ve known twenty years and his wife just closed permanently because PPP ran out both times before they could even get a listen.
When you’re looking at signing the lease for another year at higher rent, again, it’s enough.
I’d rather have bought my first house broke than not at all.
I disagree.
Yep
My bank told me “everyone gets one month payroll”. So that’s what everyone took. No debate or negotiation, they looked at the stubs and said here
That month is up
The business next to me is a fastener supply. They closed Monday.
They closed monday because no new customers were putting in orders to have filled by this monday.
Which means the wall has been hit.
That’s a big group of warehouse guys making $15-20/hr, plus a few salesmen and a manager out. I love those dudes but they will not just “learn to code” over the next week and get new careers.
Plus they’ve got the biggest shop in the complex, rent is still ticking. So now it’s on the owner to guess how long it will be until he can open back up vs the cost of paying rent on the place that has no business.
The snowball has turned into a ■■■■■■■ avalanche, and its going to wipe out the ones who have been doing everything right, first.
1 Like
I love these dudes with their “learn to code” horse ■■■■■ Truth is, the first wave of automation and algorithms may have come for the service industry but the next wave of it is coming for middle management, administrative and IT/IS. Only a fraction of them are gonna be needed anymore, five years from now.
2 Likes
Playing by the rules gets you nowhere in America and hasn’t for twenty years at least.
2 Likes
Right? Imagine being an actuary right now.
“What do you do?”
-“complex math”
“Ah, like this computer”
-“yes, but slower, and more error prone”
2 Likes
Yeah the only middle management jobs that are safe are the ones that involve direct management of human beings or dealing with customers, because most human beings can’t do that ■■■■ let alone computers, and I was feeling pretty cocky that I had fallen on my ass into a field of clover with this food and beverage manager thing. Until the pandemic wrecked my industry for what’s likely to be years.
I hear ya, my “can’t go wrong” big plan for 2020 of finally milking the hell out of my proximity to all the festivals and events here never considered pandemic. I have a pallet of umbrellas sitting on a concrete RV pad that I’m pretty sure has become art.
1 Like
