[CT_Yank]

Originally Posted by ObedientSir

It wasn't just the stock market that was doing great. We were at statistical "full employment" too.

No, it was mostly the stock market. We were at statistical full employment under Obama. Reality is that tax cuts and cranking Fed printing press in 2018/2019 did little to add good paying jobs and went straight to stock buybacks, inflating exec pay. Job additions were mostly in lower paying food/service/retail sector. CT was particurlarly hit hard by downgrade in job quality over last decade.

[BPt111]

Connecticut reached a level of joblessness this week matching the national unemployment rate during the heart of the Great Depression.

The state on Thursday surpassed 400,000 new unemployment insurance applications filed since March 10, when Gov Ned Lamont ordered businesses to shutter in an effort to stem the spread of the novel coronavirus.

That number represents roughly 23 percent of the state’s working population, most having lost jobs during the six weeks since Lamont’s declaration of a public health emergency.


https://www.ctpost.com/business/arti...n-15221413.php

[BobNJ1960]

Originally Posted by BPt111

Connecticut reached a level of joblessness this week matching the national unemployment rate during the heart of the Great Depression.

The state on Thursday surpassed 400,000 new unemployment insurance applications filed since March 10, when Gov Ned Lamont ordered businesses to shutter in an effort to stem the spread of the novel coronavirus.

That number represents roughly 23 percent of the state’s working population, most having lost jobs during the six weeks since Lamont’s declaration of a public health emergency.


https://www.ctpost.com/business/arti...n-15221413.php

I knew this would be bad, but underestimated just how horrible it would be economically.

[SteveM85]

Originally Posted by CT_Yank

No, it was mostly the stock market. We were at statistical full employment under Obama. Reality is that tax cuts and cranking Fed printing press in 2018/2019 did little to add good paying jobs and went straight to stock buybacks, inflating exec pay. Job additions were mostly in lower paying food/service/retail sector. CT was particurlarly hit hard by downgrade in job quality over last decade.

Full employment is full employment. More employment for the less economically fortunate folks is a good thing to boast about in my humble opinion. In CT or anywhere else.

[BobNJ1960]

Friendlys laid off 149 at 6 Ct restaurants, and in their WARN act letter, indicated the layoffs may last 6+ months with no guarantees they will call employees back.

[Stepfordct]

Originally Posted by BobNJ1960

Friendlys laid off 149 at 6 Ct restaurants, and in their WARN act letter, indicated the layoffs may last 6+ months with no guarantees they will call employees back.

Right before ice cream season....not good. That chain has issues already......dead man walking.....

[SteveM85]

Originally Posted by Stepfordct

Right before ice cream season....not good. That chain has issues already......dead man walking.....

This era's Howard Johnson, they've seen better days.
The virus will die off at some point and it's going to take some long overdue chains with it.

[Stepfordct]

Originally Posted by SteveM85

This era's Howard Johnson, they've seen better days.
The virus will die off at some point and it's going to take some long overdue chains with it.

Yes Rocky Roads ahead...... except this time there might not be anyone to take over the lease

[JayCT]

Originally Posted by BobNJ1960

Friendlys laid off 149 at 6 Ct restaurants, and in their WARN act letter, indicated the layoffs may last 6+ months with no guarantees they will call employees back.

They are a Massachusetts company that has a long history of poor management. They are a shell of the once great company they once were. They once had at least one restaurant in each major town. They are now down to six having sold off some of their best locations for a quick profit. This may be the final nail in the long time coming coffin. Sad. We will see. Jay

[BobNJ1960]

Originally Posted by Stepfordct

Right before ice cream season....not good. That chain has issues already......dead man walking.....

I doubt they survive this financially, and I do mean the entire operation, including the factories.