{"id":757,"date":"2020-05-07T14:59:39","date_gmt":"2020-05-07T14:59:39","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=757"},"modified":"2022-07-04T23:48:56","modified_gmt":"2022-07-04T23:48:56","slug":"unemployment-hope-horizon","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/unemployment-hope-horizon\/","title":{"rendered":"Unemployment: Hope on the Horizon"},"content":{"rendered":"
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Unemployment: Hope on the Horizon<\/p><\/div>\n

Tomorrow, the unemployment rate for April 2020 will be released by the\u00a0U.S. Bureau of Labor Statistics.<\/em>\u00a0It will hit a peak this country has never seen before, with data representing real families and lives affected by this economic slowdown. The numbers will alarm us. There will be headlines and doomsday scenarios in the media. There is hope, though, that as businesses reopen, most people will become employed again soon. Last month\u2019s report indicated we initially lost over 700,000 jobs in this country, and the unemployment rate quickly rose to 4.4%. With the release of the new data, that number will climb even higher. Experts forecast this report will show somewhere between a 15% \u2013 20% national unemployment rate, and some anticipate that number to be even greater\u00a0(see graph below):<\/em><\/p>\n

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2020 Unemployment Rate Forecast<\/p><\/div>\n

What\u2019s happened over the last several weeks?<\/strong>\u00a0<\/strong><\/h4>\n

Here\u2019s a breakdown of this spring\u2019s weekly unemployment filings:<\/p>\n

\n
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U.S. Bureau of Labor Statistics Weekly Unemployment Filings<\/p><\/div>\n<\/div>\n

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\n
\n
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The good news shown here indicates the number of additional unemployment claims has decreased week over week since the beginning of April. Carlos Rodriguez,\u00a0CEO\u00a0<\/em>of\u00a0Automatic Data Processing<\/em>\u00a0(ADP)\u00a0says<\/a>\u00a0based on what he\u2019s seeing:<\/p>\n

\u201cIt\u2019s possible that companies are already anticipating some kind of normalization, opening in certain states and starting to post jobs.\u201d<\/em><\/p><\/blockquote>\n

He goes on to say that this doesn\u2019t mean all companies are hiring, but it could mean they are at the point where they\u2019re not cutting jobs anymore. Let\u2019s hope this trend continues.<\/p>\n

What will the future bring?<\/strong><\/h4>\n

Most experts predict that while unemployment is high right now, it won\u2019t be that way for long. The length of unemployment during this crisis is projected to be significantly shorter than the duration seen in the Great Recession and the Great Depression.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n

<\/div>\n
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Years for Unemployment Rate to Return to Pre-Crisis Level<\/p><\/div>\n

While forecasts may be high, the numbers are trending down and the length of time isn\u2019t expected to last forever.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Don\u2019t let the headlines rattle you. There\u2019s hope coming as we start to safely reopen businesses throughout the country. Unemployment affects our families, our businesses, and our country. Our job is to rally around those impacted and do our part to support them through this time.<\/p>\n

 <\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Hope on the Horizon Finish Reading Unemployment: Hope on the Horizon<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[15,124,125,152,178,132,10,18,16,177,49,42,23,40,63,20,12,48,13,19,154],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/757"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=757"}],"version-history":[{"count":3,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/757\/revisions"}],"predecessor-version":[{"id":2771,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/757\/revisions\/2771"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}