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Unemployment claims jam states' websites, phone lines
First the bad news.
Record numbers of people filing unemployment claims have crashed computer systems in states struggling to keep up with the demand.
Now the good news.
One bright spot: Some people are getting jobs processing claims.
Due to the enormous increase in unemployment, some unemployed are getting jobs processing unemployment claims? Well, we were all wondering what the next growth industry would be after payday loan centers. Now we know.
Payday lender barred from 356% rate
Payday lending company executives fought the interest rate cap and predicted it would cause them to leave the state as they have had to do in other states where lawmakers took similar actions.
Oh the humanity.
Blogging
Never before have so many people with so little to say said so much to so few.
Touché Despair.com, touché!
Friday: No Major Economic Releases
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[image: Mortgage Rates] Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
Friday:
• At 10:00 AM ET, *University of Michig...
7 hours ago
2 comments:
The vicious circles make my head hurt:
If employment levels improve, then there would be less need for unemployment claims processors ... which would lead to job cutbacks ...
which would increase unemployment levels ...
necessitating the hiring of more claims processors ...
OK, so I exaggerate. A little.
threetorches,
The vicious circles make my head hurt:
First, stop banging your forehead on your desk. The same thing happened to me. It reminds me of a joke.
Patient: I get a stabbing pain in my right eye every time I drink tea.
Doctor: Take the spoon out first.
Second, don't even get me started on...
The weaker the economy becomes thanks to excessive debt, the more excessive debt we can somehow find to bail it out!
Look, all I'm trying to say is that the weaker the economy becomes the stronger the economy will become.
Oops. That triggered another round of forehead pain.
Thud! Thud! Thud!
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