*sigh*

"boredalways" (boredalway666) 05/04/2020 at 15:37 • Filed to: Aviation, GE Aviation, Joblopnik, Layoffs, Reuters

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11

I guess I’m surprised it took this long, but they probably had to wait until the fiscal quarter had ended.

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HammerheadFistpunch > boredalways 05/04/2020 at 15:50

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its a good thing I don’t have a large financial investment in GE stock...oh wait...dammit!

For Sweden > boredalways 05/04/2020 at 15:51

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Does this include people who took the early retirement offer?  I know one person who took it and just started a few months of paid vacation.

Future next gen S2000 owner > HammerheadFistpunch 05/04/2020 at 15:59

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Lower operating costs! Higher profits!

EL_ULY > HammerheadFistpunch 05/04/2020 at 16:00

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time to hop on dat then lol.

$11-$12 avg. be-foe da ‘ Rona...

hmmmm. I’ll keep an eye on GE now.

boredalways > For Sweden 05/04/2020 at 16:04

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Beats me. I wish I was on a several months paid vacation.  Instead, I'm still unemployed 

ranwhenparked > boredalways 05/04/2020 at 16:11

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Well, we’re at at least 18% unemployment right now (probably quite a bit higher), wonder where it will all peak? Maybe 33% or so?

The good news is that, if the economy ever does reopen by summer, probably half of those laid off will be recalled to work, but it is going to be many, many years before we see 3.5% again, if ever. 

For Sweden > HammerheadFistpunch 05/04/2020 at 16:13

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Should have invested in Red Mini Mags

Just Jeepin' > ranwhenparked 05/04/2020 at 16:22

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I got my fair share of abuse two months ago  (actually just one person, but whatever) for predicting 20-40%. Not a prediction I would have minded being wrong about, at all.

ranwhenparked > Just Jeepin' 05/04/2020 at 16:27

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I can’t imagine why, its only logical when the majority of businesses are prohibited from operating indefinitely , that there’s going to be mass joblessness. The 18% is just who’s managed to apply for unemployment, so the real number is almost certainly above 20, which is getting close to the 24.9% we saw at the peak of the Great Depression. And, of course, it isn’t like entire industries ceased to exist overnight in the Great Depression, they contracted, but they didn’t disappear entirely , which is what happened this time.

Dr. Zoidberg - RIP Oppo > ranwhenparked 05/04/2020 at 16:44

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I agree, the actual percentage of people who had jobs two months ago and now don't is probably far higher than 15-18%. I know a  handful of people that are not applying for unemployment (various reasons) and not actively looking at this time since their skills as a worker apply to industries that are either 1) perpetually non-essential, or 2) collapsing nationally. My best friend's wife said screw it and is taking a 6 month break and then going back to school. These anecdotes are not captured by how we measure unemployment, as they've "left the active workforce."

ranwhenparked > Dr. Zoidberg - RIP Oppo 05/04/2020 at 16:51

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Even a lot of companies that are still technically hiring are pushing interviews until the end of the shutdown, whenever that is, so most job postings out there are pretty much useless.

Unless you want to go work in an Amazon warehouse, fast food, a grocery store, or drive for Instacart or Uber Eats, jobs are pretty much nonexistent. Almost all other essential ones are going to require licenses and training, which you also  can’t get now.