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Respected Contributor
Posts: 2,851
Registered: ‎06-09-2010

Unemployment On The Rise Due To Closures

I live in Colorado and the News stated that 7,000 people have applied for unemployment. Many more could not get through on the website. Many people in the service industry live pay check to pay check. This shuttering of restaurants and bars is causing hardship. We are living in a ****** if you do and ****** if you don't environment.

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Honored Contributor
Posts: 9,877
Registered: ‎03-10-2010

Re: Unemployment On The Rise Due To Closures

Yes, it was reported today unemployment will reach 20%. I feel the numbers will reduce when bars and restaurants reopen.  Sadly, there will be those businesses who will not make it through.  Or borrow too much to get through, the find they cannot keep up payments.

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Trusted Contributor
Posts: 1,014
Registered: ‎09-14-2011

Re: Unemployment On The Rise Due To Closures

This is a scary situation. Experts are now talking months of social distancing. The serivce industry layoffs just starting to take place will ripple through the rest of the economy quickly. My husband's place of employemnt just laid off 90% of their workers as they had to close most locations. A few managers are kept on. My husband accepted a 65% pay cut, as there are no other options out there. Our economy is based on consumer sales and this is quickly going to put us into a depression. Everyone try to stay healthy.

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Valued Contributor
Posts: 711
Registered: ‎06-27-2016

Re: Unemployment On The Rise Due To Closures

Unfortunately it will continue to rise. I guess on the bright side of things, at least there IS some help available to people.

~ Hope in TN ~
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Honored Contributor
Posts: 11,719
Registered: ‎06-09-2014

Re: Unemployment On The Rise Due To Closures

I just heard this morning that my employer may be shutting down completely. 

 

I will probably still be able to get in and clock in and out and work from home but I am considering myself extremely lucky to be able to earn something while we are all on lockdown.  

 

 

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Respected Contributor
Posts: 2,771
Registered: ‎04-04-2015

Re: Unemployment On The Rise Due To Closures

This is what I've been saying.  This panic is going to hurt a lot more people than the virus likely will.  Yes yes I know millions will die.

 

However, if they don't and it ends up being far less than flu or even H1N1 - and we end up in a depression, then this will have been an unnessessary tragedy and the ones who caused it will just go on their way.

 

And the economy was doing so well and unemployment was the lowest in a very long time.  Hmmmmm.

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Honored Contributor
Posts: 26,863
Registered: ‎08-19-2010

Re: Unemployment On The Rise Due To Closures

Hopefully they will get on the ball and send out those economic stimulus checks then hopefully people will spend them wisely.

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QVC Customer Care
Posts: 1,644
Registered: ‎06-14-2015

Re: Unemployment On The Rise Due To Closures

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Trusted Contributor
Posts: 1,903
Registered: ‎05-13-2010

Re: Unemployment On The Rise Due To Closures

@sharke Even if people spend the checks unwisely it will help the stores.

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Honored Contributor
Posts: 10,437
Registered: ‎07-09-2011

Re: Unemployment On The Rise Due To Closures


@Isobel Archer wrote:

This is what I've been saying.  This panic is going to hurt a lot more people than the virus likely will.  Yes yes I know millions will die.

 

However, if they don't and it ends up being far less than flu or even H1N1 - and we end up in a depression, then this will have been an unnessessary tragedy and the ones who caused it will just go on their way.

 

And the economy was doing so well and unemployment was the lowest in a very long time.  Hmmmmm.


~~~

"Animals are not my whole world, but they have made my world whole" ~ Roger Caras