49 Percent Of U.S. Companies Expect Layoffs "In The Next Three Months" As Unemployment Heads To Great Depression Levels

This is really “War of the Worlds” type gullibility. People keep watching cable news and are utterly convinced that there are corpses just piling up everywhere, but of course this isn’t happening. Of course the real world observations are just a bunch of people running around acting scared for no explicable reason beyond their belief in a story that keeps not coming true. I still don’t know of any infectees within any number of degrees of separation from myself. But people are begging for National Guard roadblocks.

Of course they will lay people off.

No work, no revenue really don’t ned people.

I believe there will be many people laid off, but I can’t see a 30% Unemployment rate for this year. It could happen in a year and a half - half of 2021. But not in one month are some economists are saying (or predicting). That seems a bit far-fetched. But I would put the number at around maybe half of that for the rest of April.
Having said that, I am quite optimistic that jobs will bounce back by Summer. Yes, it will be slow. But by Election time, we will see an increase in employment. And the stock markets around the world will gradually “see the light” - in green.

It’s the Winter of 2021, we may have to worry about (again). I don’t know for certain.

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Virus’s mutate on a regular basis. Th next iteration may be in a month or several years. One has to ask, last year 80K africans did from the flu. There was no panic, there were no lay offs, the government didn’t declare a national emergency.

The flu is as contagious as the cover virus, why the panic?

And yes we can and will hit 30% unemployment as the governors add more severe restrictions on people in their state.

I’m instituting work from home starting tomorrow and pulling all of the folks out in the field.

I’m going to cover their average pay and see where we stand in two weeks. We still need to find out if, for instance, Unemployment Insurance will ding you for this. If they do and your number is so high, you may not be able to get unemployment insurance. Might as well close the doors if that turns out to be the case.

Went out and bought groceries for everyone yesterday and asked them to limit their trips to the grocery stores for the next two weeks.

I’m in what is an up and coming hot spot, it kills me to do this but if anyone gets sick or dies because I made them work, I’d have a hard time living with myself. :frowning_face:

Let’s hope by then it has mutated into a much weaker version and we have an effective vaccine and treatment regiment.

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I understand companies that bottle water, cannot keep up with the demand.

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Grandma Vilula told me, during the Spanish flu, you could go out in the morning, look up or down any street, and see bodies wrapped in bedsheets on the sidewalks, waiting to be picked up. Several mass graves in my area. Probably in every area.

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It’s very much like the flu which mutates on a regular basis preventing a long time vaccine.

In order to survive, it has to mutate.

The L Strain was so deadly it killed itself off while the S Strain, less deadly survived.

We can thank CHINA for lying and the WHO telling everyone the virus can NOT be spread from human to human . The WHO ANDTHE UN are useless money grabbing commies . They sided with CHINA and put us in this death trap .

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Today it was reported 6,6000,000 filed for unemployment with websites crashing under the load .

And why is anyone surprised with the states shutting down businesses and companies force to lay people off?

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Well, at least this is good news:

On Thursday, DHS officials said they were halting the plan to bring in those additional 35,000 H-2B foreign visa workers “due to present economic circumstances” wherein 6.6 million Americans have now filed jobless claims in the midst of the Chinese coronavirus crisis.

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Responsible companies should have set aside 3 months of expenses in a savings account for a rainy day and maybe not over-extended so much. Personal responsibility … it’s not just for when boomers want to talk down to kids about college debt.

You’d be surprised at how many have. 3 months at a minimum

Those that have done so will survive. Those that did not? Well their survival is TBD.

That is a lesson well learned across the board. When you have six months of overhead at a minimum saved, then you can purchase whatever.

Never tap into those reserve funds.

I never relied on data from China or WHO. I put my company on a two week shut down and the blow back is beyond the pale.

Profits over people. I was absolutely sick over this yesterday but today I am good with my decision. I only wish more would take the stand that I did. Not going to happen.

It is all kinds of “fun” being the salmon that swims upstream rather than those who go with the flow.

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They realised after the Tucker expose, the blowback was too much. Message received!

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I did the same thing and laid off everyone after the ACA was put into effect. I gave my employees 10K a year to purchase healthcare. Most had spouses with healthcare benefits and pocketed the 10K a year. The costs of healthcare rose and several employees approached me wanting an increase in healthcare stipends.
A difficult decision as 1/3rd of the time I received no compensation yet every employee was always paid.
I made that difficult choice and gave them 90 days notice and began shutting down the business excluding several customers I kept. I assisted those that needed help finding other employment.
The decision upset me a great deal however since then I have always received a paycheck for work performed. I’m good with my choice today.

Best of luck as you go forward.

I tried that as well with the same results. Except most didn’t have spouses with healthcare benefits. So, when sick they would complain they didn’t have the money to see a doctor.

So, I switched to you’ll have insurance and offered two plans.

It does get so frustrating that sometimes you just want to hang it all up.

Thank you, Lou :heart:

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