MGM Resorts just announced that they are permanently terminating 18,000 workers that were on furlough.
MGM Resorts is laying off 18,000 furloughed workers in the U.S. as a global travel slowdown impedes the casino industry’s recovery https://t.co/NES46fZilN
— The Wall Street Journal (@WSJ) August 28, 2020
The travel and hospitality industry is going to be in for some tough times in the years ahead so this news is no surprise.
It further highlights how real unemployment is nowhere near 10 percent. We are looking at unemployment that is between 30 percent and 50 percent.
We can’t even start to recover economically until people in government finally admit that this whole virus hysteria has been an overblown hoax.
Even after five months the economy is still not fully reopened and they are no doubt going to try to fully close it again because of flu season or some other stupid shit.
