With the millions of people being laid off, like some of the rest of you, I am scratching my head with the last couple of weeks of market action. I wonder how long the Federal pump and bump can last.
Airline employees make real good wages. They will find nothing else in the job market that even comes close to what they currently make. That is not good for consumer spending.
This airline bailout will end on October 1. The election will only be 7 more weeks away. I am wondering if authorities will be considering extending this airline bailout.
" US airline workers have been largely spared from the carnage that's pushed the country's unemployment to record highs since the start of the coronavirus pandemic. But those same workers -— roughly 750,000 pilots, flight attendants, baggage handlers, mechanics and others — will soon be among the most at-risk for losing their jobs."
" But executives have been blunt that job cuts are coming once that prohibition lifts on October 1, with estimates that up to a third of the sector's jobs could disappear."
" Deep, permanent cuts in the well-paying jobs found across the industry are inevitable come fall, even if the economy has improved by then, because it's clear that it will take years for air travel to return to previous levels.