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.
“Hybrid workplace,” it calls it. The trend for many companies with office workers and enough tech savvy to pull it off. A nightmare for landlords.
Even Fitch weighs in on the data chaos.
“Some things actually work really well virtually”; but “the vast majority of us can’t wait until we can be back in the office.”
Continued unemployment claims rise for 2nd week, to 29.6 million, worst since Aug 1, meaning 18.4% of labor force is on unemployment insurance. State & federal initial claims jumped to 1.7 million in the week.
Most states are also rolling it out. On top of other stimulus programs and housing payment deferrals via eviction bans & mortgage forbearance
Continued unemployment claims jumped by 2.2 million to 29.2 million, worst since Aug 1, as claims by gig workers under federal PUA program soar. State plus federal initial claims jumped to 1.59 million “not seasonally adjusted.” 18.3% of labor force on unemployment insurance.
A sort of sector rotation of layoffs, and it’s not a good sign, even as millions of lower-wage workers are being hired back (transcript of my podcast).
A sort of sector rotation of layoffs, and it’s not a good sign, even as millions of lower-wage workers are being hired back.