U.S. Bureau of Labor Statistics announces decline in unemployment rate from 7.9% to 6.9% over the last month, beats expectations

[resjudicata]

@shirin Nice 420.69

 

[godsgurl25]

@beautybarb Number of small businesses are closed out forever around me. These jobs aren’t coming back.

 

[loveisthelaw99]

@godsgurl25 Yeah, no one will ever rent those store fronts and have another go at making money and hiring people. Sad.

 

[fleetstar]

@godsgurl25 Man reddit loves doom porn. I work for a nonprofit that gives small businesses low interest loans and grants. Small businesses create and destroy mass amounts of jobs. It’s the process of creative destruction. Reddit doesn’t want to hear it but the jobs will indeed come back.

 

[santiagojp]

@fleetstar Reddit absolutely loves doom porn. Definitely keep that in mind and it will help you stay the course especially when it comes to investing during a crisis.

 

[mizpahde]

@santiagojp Yep. Lost a lot of fucking money at the end of March/April because of "dead cat bounce" " v shape recovery not possible" "there is no good news, we're going to 1929 levels". Should never trust the hive mind.

Almost all of my big losses are from taking reddit sentiment too seriously and not doing my own research.

 

[bre1]

@mizpahde Yea no bounce because the fed shot the cat full of adrenaline for a short while. We will see how long that can last!

 

[resjudicata]

@bre1 How’s the new zero hedge article?

 

[resjudicata]

@fleetstar It’s pretty entertaining. There’s always a market crash or a Great Depression right around the corner.

Some people should try going outside, they’ll be shocked to see that the world doesn’t actually look like Germany in 1351.

 

[tambestanley]

@resjudicata But it’s similar to the US in 1918-20. So don’t forget your mask.

 

[kidspray2]

@tambestanley so we have still 9 years of bull market before the big one hits?

 

[jesusismywheelchair]

@fleetstar What about stagnation in wage growth? Before COVID the competitive job market led to higher wages; now employees are desperate and many are doing more work for less pay. When enough people are saying the same thing, it stops being anecdotal...economy is not as rosy as it looks on paper. People are still hurting.

 

[shefa]

@godsgurl25 And new businesses will take there place. Yes it's sad to see your favorite shop closed but it's not like the employees and customers will never be able to shop and buy things ever again for the rest of their lives. Some of these new businesses might even be better run than the old ones and bring in new ideas that better serve the customers.

 

[bradbee]

@godsgurl25 Bob’s specific job and company X may not be coming back. It’s irrelevant. John at company Y will replace the economic activity.

 

[seekthegame]

@godsgurl25 if the reason that kept them there comes back they come back

 

[girlrose]

@godsgurl25 Exactly , lot did these pandemic economic effects won't be seen till 6 -12 months ... Plus the US. Fed keeps printing money to papwr over the real effects. Sucks to be a saver, but not so sure an investor will do so great long term

 

[ashley755]

@girlrose I remember seeing your exact same comment ~6 months ago.

 

[mylenelise]

@ashley755 lol as I was reading this person's comment this is exactly what I was thinking. They keep sabotaging themselves and kicking it down the road. Don't you worry it's going to happen any day now!!

 

[girlrose]

@mylenelise Yeah, because the Fed keeps kicking the can down the road ..

 

[mylenelise]

@girlrose And you think it's smart to bet AGAINST the Fed? No sympathy