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mugtang

What will be the unemployment rate tomorrow?

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It was 3.5% last month.  My prediction is 18% is what’s announced as the new unemployment rate because of the corona virus. 

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7 minutes ago, mugtang said:

It was 3.5% last month.  My prediction is 18% is what’s announced as the new unemployment rate because of the corona virus. 

Why do you hate old people? An unemployment rate of 100% is worth it to save my grandmother. 

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The March Unemployment rate is released on April 3.  Tomorrow is just the weekly jobless claims release.

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7 minutes ago, RSF said:

2 million jobless claims works out to about 1.2%, so my guess is it'll be around 5%.

California reported 1 million jobless claims yesterday.  My 18% prediction may be too high but it’ll be double digits. 

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3 minutes ago, smltwnrckr said:

Why do you hate old people? An unemployment rate of 100% is worth it to save my grandmother. 

Because I’m a heartless bastard that doesn’t want to see a famine in 6 months :shrug:

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You caught me in mid edit.....

 

 

That California number would still only add about half a percent.  And that's just job loss - several large outfits are trying to hire large numbers for the short term.  It balances out....somewhat.

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22 minutes ago, RSF said:

You caught me in mid edit.....

 

 

That California number would still only add about half a percent.  And that's just job loss - several large outfits are trying to hire large numbers for the short term.  It balances out....somewhat.

That's fair.  I think we’re in for a shocking number though tomorrow.  There’s going to be several million jobless claims. 

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My sister’s company laid off half of their work force today. That’s about 100 in a very small town where they were the largest private employer. 

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Somewhere around 10%

 

Good luck if you need to call UI. It's so jammed you don't even get the leave a call back option

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6 minutes ago, BSUTOP25 said:

My sister’s company laid off half of their work force today. That’s about 100 in a very small town where they were the largest private employer. 

Why not furlough? The government would pick up the tab.

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My guess is somewhere in the neighborhood of 12-13%. 

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3 minutes ago, mysfit said:

Why not furlough? The government would pick up the tab.

They haven’t passed the law yet though. 

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2 minutes ago, mysfit said:

Why not furlough? The government would pick up the tab.

I obviously can’t disclose specifics but cash flow isn’t as simple as most people think it is. When you’re not selling and shipping product, you can’t operate certain types of businesses. 

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19 minutes ago, mugtang said:

They haven’t passed the law yet though. 

Bill

 

Not law

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19 minutes ago, BSUTOP25 said:

I obviously can’t disclose specifics but cash flow isn’t as simple as most people think it is. When you’re not selling and shipping product, you can’t operate certain types of businesses. 

Got it, thank you

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57 minutes ago, mugtang said:

Because I’m a heartless bastard that doesn’t want to see a famine in 6 months :shrug:

...? All ag business is called out as exempt?

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9 minutes ago, mysfit said:

Bill

 

Not law

My bad 

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4 hours ago, smltwnrckr said:

Why do you hate old people? An unemployment rate of 100% is worth it to save my grandmother. 

That's a really epically clueless statement. If we had 100% unemployment, 1,000's of other people would have to die just so your grandmother could live. I don't think she would want that. 

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It'll be about 11 to 12% because a lot of people will not have filled out jobless claims yet. If a lot more get them filled out, it'll be closer to 20%. 

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