Study Finds 42% Of Pandemic Layoffs Will Become Permanent Job Losses

Washington Examiner ^ | 05/11/20 | Mica Soellner

[CurlyDave]

Look up the term “Creative Destruction” as it applies to capitalism.

We are constantly “losing” lower productivity jobs and adding new ones. Some of the new ones become permanent and some fade away. This is the life blood of our economic system, the most productive the world has ever seen.

The shutdown has gone through our employment like a gardener, pulling weeds everywhere. We have accelerated years of progress into a few months.

This is why the stock market is looking up.

I drove by a store advertising “now hiring” yesterday.

Don’t believe them when they say the economy is heading into a depression. That will only be true if we get Joe Biden.

[Crusher138]

I have an uphill fight.

My business serves primarily schools and businesses. If I am allowed to be open, but my customers are not, what good is it?

My employees are earning more collecting unemployment than they would be working. Even if I brought them back, I would be paying them to stand around.

I received a whopping $8K of PPP, and gave $2500 in back rent to my landlord and then a creditor sucked $2700 out of my checking account without permission.

Still no EIDL, stimulus or even my tax refund.

[CurlyDave]

I love how people who have never owned a small business think it will be as easy as pushing the on button.

I do own a small business. I took extraordinary measures to keep it afloat during the worst of the crisis, which is now behind us, and I firmly believe that we will be roaring along in 6 months.

Not quite like an on button, but if anyone who does not move out quickly in the next month will be run over by the competition.

[Kazan]

Study Finds 42% Of Pandemic Layoffs Will Become Permanent Job Losses...if the lockdowns continue for months.

We haven't reached that point yet.

[Wiser now]

I personally know of two restaurants that will not reopen. One is a natioanal chain closing an under performing location, the other is a local family place associated with a family fun complex. The manager of this restaurant learned of the closing last Friday. HE ALREADY HAS ANOTHER JOB; a permanent, full time job.
Everywhere I go I see help wanted signs in the windows of businesses.
This article is just more msm fear mongering. The media doesn’t want us to go out to eat next week when dining rooms reopen. They want us to stay home out of fear and put more of these places out of business so they can push a genuine recession come September.

[glennaro]

The commentary is incorrect in its initial statement, "coronavirus pandemic layoffs". The layoffs are not the result of the virus, they're the result -- the direct result -- of the governors who deliberately locked down the people and the businesses in their state.

We must stop blaming "The Virus" for the crushing damage to our economy and to our social fabric which has been caused -- and continues to be harmed -- by the governors.

[hinckley buzzard]

When a business closes for good, the jobs lost no longer exist.