Bringing back permanent job losers took years the last two times, and it hasn’t even started yet.
February confirms: V-shaped jobs recovery petered out in October about two-thirds into it.
Down 11 million jobs from pre-Pandemic trend. Like the overall economy, the job market has split in two.
Fraudulent payments by California could exceed $20 billion. New security measures to prevent fraud cause delays in payments that triggered a new hullabaloo.
“Lower interest rates reduced our earnings in 2020 and will put pressure on our profitability this year.” After having promised, no layoffs in 2020. But this is 2021.
Corporate cost cutters salivate over working from anywhere. Oh my, the free gourmet cafeteria is gone. Companies already said they’d cut salaries if folks move to cheaper locations.
The cut-off date (Nov. 14) kept much of the hit from the Covid spike out of the data. Then there are the long-term hits to the American job market, such as rampant globalization.
Jobs not galore. And the target keeps moving.
California Emerged from its “Reset.”
Landlords and their lenders who’re still thinking work-from-home is just a blip will undergo a reckoning in due time.