Payroll processor ADP CEO says hiring data indicate the jobs market has begun to 'stabilize'

As the economy shed tens of millions of jobs since mid-March due to the coronavirus pandemic, the benchmark"I think what might be happening is [investors] may be already anticipating the worst may have been behind us" in slowing the spread of coronavirus, Rodriguez said in a "

About 4 million people sought jobless benefits in the Labor Department's most recent report, which was down from higher rates in prior weeks. A record 6.6 million individuals filed for benefits in back-to-back weeks earlier this month."This downturn is much worst than what we saw in the last two recessions, in terms of just magnitude and also the speed, but that doesn't' mean that it necessarily has to last as long," Rodriguez said.

There could be an uptick in hiring as states authorize nonessential businesses, such as barbershops, nail salons and dine-in restaurants, to resume operations. Government officials in Alaska, Georgia, South Carolina, Texas and Tennessee have begun easing restrictions on establishments.

caugh...Bullshit!

Really? That fast? I have my doubts.

What!!

I guess he didn't look at Floridaunemploymentbenefits?

Well that's a crock of shit. Way to use those journalism skills!

Stabilize at 2-3M lost per week.

Translation: go down less quickly

Being stupidly optimistic is worthless. Nothing has stabilized. NOTHING.

That’s positive news... Let the bounce-back begin!

Like hitting bottom of a deep well

Wait what about all the unemployment claims

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Boeing CEO Sees Years Of Recovery From Coronavirus Ahead For Aviation IndustryBoeing's CEO told shareholders in a virtual annual meeting on Monday that it may take several years for commercial airlines to recover from the huge drop-off caused by the coronavirus pandemic. Well Boeing really has no room to talk... Do we need to go down the 747 Max rabbit hole? You’d be experiencing years anyway recovering. While the rest of the airline industry was having their best several years on record, once the gaslighting is over w/ Covid it’ll bounce Poor babies. Translation: we have an excuse to jack up baggage fees again
Source: NPR - 🏆 96. / 63 Read more »

Adidas CEO doubles down on ecommerce as 70% of its global stores remain closed - Business InsiderAdidas plans to ramp up digital presence and reopen stores in the US by mid-May; currently, more than 70% of its global store base remains shut. I feel these big companies should have the resources to manage the necessary changes the global situation has forced on our way of life. Most retailers should already have 90% of it's business online and be running lean on overhead, anyway. We are a digital society who got tired of hiking thru malls. The consumer has changed the way we buy. After lockdown, we are going to be real lazy now...
Source: BusinessInsider - 🏆 729. / 51 Read more »