649,000

[Randy]

That's a depressing number which is only going to rise and rise and rise.


https://news.sky.com/story/coronavirus-employment-crisis-builds-as-649000-lose-their-jobs-12029435

And these numbers haven't even begun to accelerate yet.

 

[Laughing]

It is heartbreaking Randy, I think there may be one difference with this depressed economy ver other time this has happened. I wonder if recovery will be quicer because there is a nown cause and that can be managed. I am no economist, but this situation is very different to, for example, the collapse of the banking system.

 

[ticker_tape]

I think it will put the Thatcher years in the shade.

 

[bear66]

I think it will put the Thatcher years in the shade.

It may be comparable in terms of numbers unemployed and even the time for the economy to totally recover. Thatcher had the advantage of very high inflation which reduced the consequences of government debt. The major difference will be that this is caused by a world economic crisis rather than partially policy driven.

 

[Randy]

It is heartbreaking Randy, I think there may be one difference with this depressed economy ver other time this has happened. I wonder if recovery will be quicer because there is a nown cause and that can be managed. I am no economist, but this situation is very different to, for example, the collapse of the banking system.

I hope so mate I really do.

I just hope this lockdown was worth it in the long run.

 

[ticker_tape]

They had no option but to pay for the Furlough as they wouldnt have had a country to Govern. The unemployment, a major recession with companies laying staff off and shutting down offices will ensue(its already happening) It will be tough times until the vaccine arrives. I think Brexit will compound things with this bunch of fools negotiating us into a no deal.

 

[Laughing]

I agree about a no deal Brexit Ticker, that may well compound the issue. We live in interesting times.

 

[FabioPorkpie]

I saw Sunak on the telly some weeks ago, acknowledging that we are predicted to be the worst affected country economically, but also that we are predicted to have one of the largest and strongest rebounds. Think it was on Marr. Whether it was just typical Tory spin and waffle I didn’t look into, partly because I really really wanted him to be right.

 

[NYboro]

I saw Sunak on the telly some weeks ago, acknowledging that we are predicted to be the worst affected country economically, but also that we are predicted to have one of the largest and strongest rebounds. Think it was on Marr. Whether it was just typical Tory spin and waffle I didn’t look into, partly because I really really wanted him to be right.

I'm afraid that with a hard Brexit, there is unlikely to be any rebound at all.