1.5 million Americans to Lose Their Jobs Soon

[MuscleXtreme]

The Fed is conservatively estimating that as a result of the economic plan that the US economy will see a loss of 1.5 million jobs.

Americans are at the highest levels ever seen of credit card debt.

Home prices are dropping so the HELOCs won’t be of any use.

This is going to have a tremendous impact on the economy, particularly with many losing their homes due to bankruptcy and foreclosure.

Rough waters ahead.

[N0stradamus]

Something happened on March 1st, 2022.... did we shift into a new timeline....????...

[Condo41]

Apes in GME have known about this for a long time

[BrunotheBoxer]

It’s alright. No more mean tweets.

[naich]

I'm highly suspicious that they are not tampering with the unemployement numbers currently. Anyone else find it odd that we are at 3.7% unemployement (stable), yet every other store front has a hiring sign? Service industry has been understaffed since Covid. Real life and the numbers arent adding up, almost like we saw this with Covid numbers for the last two years. Also what a coincidence that they are hanging the definition of a recession on unemployement instead of 2 Q negative growth..

INB4 unemployemnt goes to 6% overnight November 8th.

[reddanak]

MuscleXtreme, an INTJ - Christian... finally, a source I can trust. Bless you.

[SamIAm1892]

I am ready bro.

Ready for my neighbors to start raiding my house.

We gunna be raining bullets more than Hurricane Ivan.

Pow pow pow pow

[Holyfenix]

I'm highly suspicious that they are not tampering with the unemployement numbers currently. Anyone else find it odd that we are at 3.7% unemployement (stable), yet every other store front has a hiring sign? Service industry has been understaffed since Covid. Real life and the numbers arent adding up, almost like we saw this with Covid numbers for the last two years. Also what a coincidence that they are hanging the definition of a recession on unemployement instead of 2 Q negative growth..

INB4 unemployemnt goes to 6% overnight November 8th.

If there are now-hiring signs every where then those unemployment numbers would make sense. If you are talking about active participation in the labor force then yeah employment numbers are way off because a ton of people are still living off stimmy/unemployment/free gibs.

[HaiMeesk]

Eliminate 1.5 million full time jobs
Create 3 million part time jobs
President takes credit for creating 1.5 million new jobs

[iloveus]

If there are now-hiring signs every where then those unemployment numbers would make sense. If you are talking about active participation in the labor force then yeah employment numbers are way off because a ton of people are still living off stimmy/unemployment/free gibs.

Stimmy money is long gone

[GeezersPalace]

All the new jobs don’t pay a living wage lol

[bluebeltATT]

Mentally ill liberals living in a tent will say it's A ok as long as no more mean tweets

[PepperedAngus]

And blackrock buys up all those foreclosures.

if there is a dip in the housing market, real actual Americans will be too broke to buy.

[Jasonw1178]

I think a lot of companies will let go of these people who are getting overpaid for low positions. They can't cut your pay, but they can lay you off and then restructure and hire new people at a lower rate. Definately not a good time to lose a job.

Eliminate 1.5 million full time jobs
Create 3 million part time jobs
President takes credit for creating 1.5 million new jobs

Worked for Obama.

[nickh04]

debt free crew u mirin?



stay safe

[naich]

If there are now-hiring signs every where then those unemployment numbers would make sense. If you are talking about active participation in the labor force then yeah employment numbers are way off because a ton of people are still living off stimmy/unemployment/free gibs.

Right, except we have no boom in population over the last two years and the cost of living has doubled, at least. So with no more free money from Uncle Sam and your monthly bills doubled, how is every single position not filled in low skilled labor/service industry? Same weird vibe during covid, no one working and the explaination was stimmy checks, but then stimmy checks ran out and the trend continued. Average savings account is $400, its not adding up...where did all the workers from 2019 go?


Either a million working age people died from Vaxx related injuries or their ability to accurately count unemployement/metrics used are trash.

[MARAVILLA1011]

its cool lets send more money to ukraine

[Kev1972]

I'm highly suspicious that they are not tampering with the unemployement numbers currently. Anyone else find it odd that we are at 3.7% unemployement (stable), yet every other store front has a hiring sign? Service industry has been understaffed since Covid. Real life and the numbers arent adding up, almost like we saw this with Covid numbers for the last two years. Also what a coincidence that they are hanging the definition of a recession on unemployement instead of 2 Q negative growth..

INB4 unemployemnt goes to 6% overnight November 8th.

Unemployment numbers are only those actively seeking work.

Scabs living on benefits, homeless, retirees, housewives, people who have been unemployed longer than a year don't factor in.

[MuscleXtreme]

MuscleXtreme, an INTJ - Christian... finally, a source I can trust. Bless you.

Glad to be of service.

[MuscleXtreme]

debt free crew u mirin?



stay safe

Good position to be in bro.

Unfortunately, a lot of other Americans aren’t in the same boat, and stagflation has made it worse. https://fred.stlouisfed.org/series/REVOLSL

[AndrewTateTopG]

Not me because we need drivers lul

[3000RT]

Everyone wants their cake and eat it too, and nobody wants to lift no heavy ass weights. A 4% unemployment is worth a strong currency. A strong currency is worth every sacrifice in growth as the euro plunges into darkness.

Everyone wants to be a millionaire on realestate but everybody wants affordable housing. These are not possible together.

[MuscleXtreme]

Unemployment numbers are only those actively seeking work.

Scabs living on benefits, homeless, retirees, housewives, people who have been unemployed longer than a year don't factor in.

I think it could be argued that the US never recovered from the dotcom bust in 2000.

https://fred.stlouisfed.org/series/CIVPART

Went from a 67.4% labor participation rate in February 2000 to 62.4% today.

Like how does 5% of the labor force just disappear when the nation has grown from 282 million in 2000 to 332 million today? The nation has grown by 17.7% since then and yet we’ve lost 5% of the labor force. What?

[Destor]

It’ll need to be more, the first 1.5 million will just be people WFHing 2+ full time jobs

[katya422]

I'm highly suspicious that they are not tampering with the unemployement numbers currently. Anyone else find it odd that we are at 3.7% unemployement (stable), yet every other store front has a hiring sign? Service industry has been understaffed since Covid. Real life and the numbers arent adding up, almost like we saw this with Covid numbers for the last two years. Also what a coincidence that they are hanging the definition of a recession on unemployement instead of 2 Q negative growth..

INB4 unemployemnt goes to 6% overnight November 8th.

Some employers are refusing to increase their pay rate for workers and so they just run understaffed. I read that Dollar Tree/Dollar General caps pay at $12.50 for their regular/non management workers.



Link:
https://wealthofgeeks.com/americans-work-more/

Places that aren't willing to pay better wages aren't likely to see a big pickup when the cost of living is rising so rapidly.

At least not yet- people will hold out for the best starting wage they can find knowing that employers are not increasing pay in line with rising inflation.

Tying yourself to a lower wage job if you can get one with higher wages is too expensive right now.

[MuscleXtreme]

Some employers are refusing to increase their pay rate for workers and so they just run understaffed. I read that Dollar Tree/Dollar General caps pay at $12.50 for their regular/non management workers.



Link:
https://wealthofgeeks.com/americans-work-more/

Places that aren't willing to pay better wages aren't likely to see a big pickup when the cost of living is rising so rapidly.

At least not yet- people will hold out for the best starting wage they can find knowing that employers are not increasing pay in line with rising inflation.

Tying yourself to a lower wage job if you can get one with higher wages is too expensive right now.

Meta is going to be doing layoffs soon. Hard to say if it’s a bellwether or it’s because Apple’s privacy changes have made that large of an impact?

[EctoCanuck]

Why no link OP? When I googled it this was the first thing to pop up...

THE BUDGET MESSAGE OF THE PRESIDENT



We ended 2021 having created over 6.5 million new jobs, the most
our Nation has ever recorded in a single year. Our economy grew at a rate of 5.7 percent, the stron-
gest growth in nearly 40 years. As of February, the unemployment rate has fallen from 6.4 percent
when I took office to 3.8 percent—the fastest decline in recorded history. We are bringing everyone
along, and leaving no one behind; child poverty is projected to reach the lowest level ever recorded,
while long-term unemployment, youth unemployment, and Black and Hispanic unemployment have
all dropped at record rates. Though family budgets are still tight, millions more Americans are earn-
ing paychecks today—and families have more money in their pockets than they did a year ago.
This progress was no accident. It was a direct result of the new economic vision for America I ran
on—to build our economy from the bottom up and the middle out.

President Joe Biden

[blissful88]

I'm highly suspicious that they are not tampering with the unemployement numbers currently. Anyone else find it odd that we are at 3.7% unemployement (stable), yet every other store front has a hiring sign? Service industry has been understaffed since Covid. Real life and the numbers arent adding up, almost like we saw this with Covid numbers for the last two years. Also what a coincidence that they are hanging the definition of a recession on unemployement instead of 2 Q negative growth..

INB4 unemployemnt goes to 6% overnight November 8th.

They're 350% lying; I bet it's more like 8% not joking

Just about every business anywhere is seeking employees



Ever since 2020 I've noticed road traffic is 3-5x higher to this day

Brb drive through town/city & it's almost bumper-to-bumper @ 11am/2pm/4pm



I always mumble "doesn't anyone fukn work anymore?"

[Mountaineer92]

its almost like shutting down the economy over covid and printing 6 trillion was the most retarded thing in us history