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To: kidl who wrote (52989)6/29/2020 5:09:10 PM
From: Johnny Canuck  Read Replies (2) | Respond to of 67739
 
I think it was a trend before but like many things the pandemic will accelerate the process.

I still remember the refrigirator plant in the US central states that took a Federal grant to not move their plant to Mexico The rationale was that it would save jobs. I know someone mentioned the company invested most of the money in automation so the jobs are going anyway, not today but a few years down the road when the switch over is complete. No quite what was intended.

I think the challenge has been that the bulk of the jobs created during the last decade was low paying, service jobs. Normally not a issue except that 70 percent of the economy is due to domestic spending. If you have half the working population unemployed and potentially a significant amount under-employed you kill 35 percent or more of the economy.



To: kidl who wrote (52989)6/29/2020 5:29:39 PM
From: Return to Sender  Respond to of 67739
 
The majority of employees in the USA have been working in service related positions. While Walmart and McDonald's will keep people employed many restaurants and retailers are closing down permanently.

What if you worked in the hospitality industry?

I know I am not flying off on vacation any time soon.

I am sure a lot of workers at restaurants, retailers, hotels, motels and whatnot are currently unemployed. To make matters worse some workers have been getting their unemployment checks plus an additional $600 per week.

They are getting paid so well doing nothing that they do not want to go back to work at all.

So yes, more an more jobs are being automated but the Covid-19 is shutting down businesses left and right.

What concerns me is that the FED, unemployment benefits, additional payouts and cash back for just being a tax payer cannot go on forever.

Most people are also seeing their credit limits reduced regardless of whether they are employed or not. Those who are already overextended with credit card debt and other problems have not even begun to be seen as the problem they most likely will be.

We need incentives to put people back to work not incentives to keep them unemployed.

We need a vaccine yesterday. It's not coming anywhere soon enough.

RtS