Unemployment thread

[Davidson Deac II]

2 hours ago, Paa Langfart said:

Got to sacrifice the 3% to make it easy on the 1%.  You sir are a gullible fool.

WTH are you talking about?  You brought up the 1%, but it had nothing to do with what I clearly said.  

What part of "more people died due to unemployment, homelessness, malnutrition in the great depression than during the spanish flu" has to do with helping the 1%?  I don't disagree with what the various governors have done, but at some point, the economic issues could kill more than the virus.  Historically there are plenty of examples of just that.  Severe economic issues lead to famine, malnutrition, and sometimes even war.  

 

[Davidson Deac II]

11 hours ago, CatTower said:

Banks make a killing while average person loses their head.  This trend has been going on for awhile now.  No longer does it pay to be nice, the ruthless have taken over America.

https://finance.yahoo.com/news/wall-street-bankers-doing-well-070148115.html 

You are confusing banks with investment bankers.  Some Investment bankers are doing ok.  Banks (the ones that do mortgages and checking accounts) are getting crushed, and no they are not being bailed out by the government.  After the 08/09 crisis, the government did (wisely) force the banks to have more capital to weather the storms such as this one, but the earnings reports this week were not good.    Better than some industries, but still an example of a struggling economy.    

https://www.cnbc.com/2020/04/17/a-blast-of-earnings-news-is-coming-but-the-market-may-be-more-focused-on-when-the-economy-will-reopen.html

Quote

"First quarter earnings began to roll in during the past week, starting with major banks. So far, based on actual reports and forecasts, first quarter earnings are expected to be down 14.5% in the first quarter, the worst quarter since the more than 15% decline in the third quarter of 2009. As for the second quarter,  a much sharper 27.3% decline is expected, according to I/B/E/S data from Refinitiv."

 

[LinvilleGorge]

Over 300k people in Colorado have filed for unemployement since mid-March. That's roughly 10% of Colorado's entire civilian workforce.

[Paa Langfart]

North Carolina is 49th worst state for unemployment benefits.  Source fileunemployment.org

[LinvilleGorge]

2 minutes ago, Paa Langfart said:

North Carolina is 49th worst state for unemployment benefits.  Source fileunemployment.org

$350 per week maximum benefit. Fug... Only 8 states are lower. Maximum of 12 weeks. Fug... that tied for dead last.

Colorado is $618 for 26 weeks for comparison.

[Paa Langfart]

this website actually has NC ranked dead worst.

 

Quote

#1 NORTH CAROLINA

Over the past three years, North Carolina has been systematically reducing the amount and duration of unemployment benefits, even going so far as to deny federal extended benefits to the long-term unemployed six months before Congress discontinued the program.  The state’s political environment remains unfavorable to the unemployed, with slow claim processing and poor claimant service.

NC pays a somewhat higher benefit of $350 per week for a duration of anywhere between 5-20 weeks.  At the moment, NC’s maximum benefit duration is only 13 weeks, determined by its state unemployment rate.   Further, NC’s partial benefit formula if claimant works, allows claimant to retain 20% of his/her weekly benefit amount before deducting earnings from the benefit.  In other words, if the maximum benefit rate is $350, claimant can earn $70, after which  earnings are a dollar-for-dollar offset to benefits.  In addition, this formula is doubly punitive because it is paid only in a week of less than three (3) customary scheduled full-time days.

https://www.aboutunemployment.org/faqs/best-and-worst-states-for-unemployment-benefits/

[ladypanther]

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North Carolina, which ranks last in the nation at making timely payments to people who qualify for unemployment insurance

^why hasn't anyone fixed poo like this before now?

 

https://www.morganton.com/news/nc-still-overwhelmed-with-jobless-claims-as-governor-expands-eligibility/article_189bae85-c7ba-5da5-a703-cfb92df1e21b.html

[LinvilleGorge]

Uh oh... posting up stuff from my hometown rag. It can't be good. LOL!