Post by t-bob on May 9, 2020 16:00:45 GMT -5
It’s very interesting but look at number *4. ....sci-fi or fascism?
The Washington Post
Coronavirus Updates
Important developments in the coronavirus pandemic.
By Avi Selk
The Post's coronavirus coverage linked in this newsletter is free to access from this email.
The latest
Friday's jobs report was terrible, but the staggering top-line numbers told only part of the story. Here's a deeper look into those figures, and what they mean for American workers:
1. The official unemployment rate of 14.7 percent accounts for only a fraction of Americans who have lost work during the outbreak. Millions more have been forced to work part time or aren't even looking for a new job after being laid off, The Washington Post's business desk reported. In actuality, 1 in 4 U.S. workers — 44 million people — are now unemployed or underemployed.
2. The wave of layoffs hit some groups much harder than others. The Hispanic unemployment rate quadrupled last month. The rate for Asian people increased sixfold. Black people and women were also hit especially hard. We reported that women made up less than half of the retail workforce and held many of the lowest paying positions but experienced 61 percent of that industry's job losses.
3. Many unemployed Americans are now feeling pressure to take jobs they view as unsafe. Some are being threatened with the loss of unemployment benefits in states attempting to revive their economies while the virus still spreads. “Some corporate leaders also fear their former employees have little incentive to rejoin the workforce because they’re making more money by staying on unemployment,” The Post reported.
*4. On the other hand, some economists fear the crisis will lead to a long-term decline for labor as companies replace employees with disease-immune robots. One research paper predicts nearly half of the country's coronavirus job losses will become permanent. The cumulative effect of so much economic upheaval and misery could also destabilize the U.S. political system, leading some experts to draw parallels with the rise of fascism in Europe after the Great Depression.
5. The White House and congressional Democrats aren’t even talking to each other about how to address these problems. A brief stint of bipartisan cooperation in the pandemic's early weeks has disintegrated into animosity, with top Democrats pushing for yet another stimulus program while President Trump calls them “crazy” and says he is “in no rush” to spend more than the $3 trillion already approved
The Washington Post
Coronavirus Updates
Important developments in the coronavirus pandemic.
By Avi Selk
The Post's coronavirus coverage linked in this newsletter is free to access from this email.
The latest
Friday's jobs report was terrible, but the staggering top-line numbers told only part of the story. Here's a deeper look into those figures, and what they mean for American workers:
1. The official unemployment rate of 14.7 percent accounts for only a fraction of Americans who have lost work during the outbreak. Millions more have been forced to work part time or aren't even looking for a new job after being laid off, The Washington Post's business desk reported. In actuality, 1 in 4 U.S. workers — 44 million people — are now unemployed or underemployed.
2. The wave of layoffs hit some groups much harder than others. The Hispanic unemployment rate quadrupled last month. The rate for Asian people increased sixfold. Black people and women were also hit especially hard. We reported that women made up less than half of the retail workforce and held many of the lowest paying positions but experienced 61 percent of that industry's job losses.
3. Many unemployed Americans are now feeling pressure to take jobs they view as unsafe. Some are being threatened with the loss of unemployment benefits in states attempting to revive their economies while the virus still spreads. “Some corporate leaders also fear their former employees have little incentive to rejoin the workforce because they’re making more money by staying on unemployment,” The Post reported.
*4. On the other hand, some economists fear the crisis will lead to a long-term decline for labor as companies replace employees with disease-immune robots. One research paper predicts nearly half of the country's coronavirus job losses will become permanent. The cumulative effect of so much economic upheaval and misery could also destabilize the U.S. political system, leading some experts to draw parallels with the rise of fascism in Europe after the Great Depression.
5. The White House and congressional Democrats aren’t even talking to each other about how to address these problems. A brief stint of bipartisan cooperation in the pandemic's early weeks has disintegrated into animosity, with top Democrats pushing for yet another stimulus program while President Trump calls them “crazy” and says he is “in no rush” to spend more than the $3 trillion already approved
