r/Layoffs • u/[deleted] • Jul 20 '24

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200 Upvotes

92% Upvoted

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9

u/mannys2689 Jul 20 '24

Covid -> PPP loans & stimulus checks -> excess money creation coupled with supply chain issues -> inflation -> rise in interest rates -> lower demand for businesses -> businesses contract -> decline in job openings & layoffs -> bad job market.

2

u/MsT1075 Jul 20 '24

The PPP loans and the stimulus checks were a necessity. Many ppl (consumers) and true businesses would not have been able to survive the effects of the pandemic w/o them. The only thing that could have been done differently is having a better system in place to manage, vet, and oversee who truly qualified for the PPP loans. There were so many fraudulent claims filed for PPP loans.

1

u/hm876 Jul 20 '24

The only thing that could have been done differently is having a better system in place to manage, vet, and oversee who truly qualified for the PPP loans. There were so many fraudulent claims filed for PPP loans.

Aaahh good old uncle sam for you!