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This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1319402
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1319402
Trump will see this as a win
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Trump wants his numbers in Covid nice = low stats…
Did Trump want his unemployment/jobless numbers nice too?
It’s just too hard to trust Trump with numbers because cheating is a way of life for him, just ask his niece!
Addendum:
Biden launches his 1st step of his economic recovery plan today:
$700-billion for American manufacturing:
$300 billion R&D in clean energy, telecom, AI…
$400 billion in federal procurement USA made products
Future parts of recovery plan:
-clean energy
-infrastructure
-workforce development (caregivers and educators)
-advancing racial equity.
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He doesn’t care.
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Seems it would be nice in an article covering this subject if TPM put that number in context, for instance including a recap of the last 3-4-5 week’s filings?
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I can hardly wait until we get reliable numbers we can all trust again. If it says its 1.3 million jobless claims I’m thinking it could realistically be twice that. Why? Just because.
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The only jobless claim I’m interested in is Donnie’s.
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Add to this news the expiring of both forbearance on rents and the extra money added to jobless benefits, plus (so far) Senate inaction on extending all of this . . .
If Republicans were smart (I know, I know), they’d act for cynical, purely political reasons by defying Trump and extending these things into January like the Dems want to do, and accidentally stumble into making a good policy decision in the process.
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How’s that “greatest ever” “America First” “punish our allies” economy working out for ya’ now?
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The government’s jobs report for June showed a solid gain of 4.8 million jobs and an unemployment rate that fell to 11.1% from 13.3%.
Ugh. It’s my understanding that the jobs report for June didn’t include the caveat that at least half of that “solid gain” were jobs that had been furloughed but brought back. They weren’t new jobs at all. They were jobs already in existence.
@hagarwood Thanks for that info. from Biden’s team.
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Man, I am absolutely fucking exhausted from all of this winning, aren’t you?
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And the June jobs report reflected surveys of Americans that were conducted in the middle of that month — before the pandemic flared up again.
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Horrifically, we are learning in real-time that the experts are right. There is no economic recovery until COVID-19 is under control (meaning case levels are low enough to manage with aggressive testing, tracing and isolating).
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The entire choice was framed economy vs. public health. It is embarrassing that so few were willing to point out that it was a false choice, that is, that one can’t restart an economy when there is no confidence that participating in it will not be a fatal decision. The imbeciles like Peter Navarro and Steve Mnuchin advising this president are just not qualified to do more than be cheerleaders for the stock market. And while others will lose their jobs or even their lives, those two will go on failing upward, sitting on their fortunes and summering in the Hamptons.
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I hear the folks who do that are long-time civil servants burdened with only one political appointee, who sees the stats only when they are published. Or so claimed NPR during one of the brief intermittent periods in which the radio worked.
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The issue isn’t political manipulation as much as the way BLS tracks and reports job numbers is not well-suited for the fast moving and usual circumstances of the pandemic. They basically admit this in the last unemployment report:
The degree of misclassification declined considerably in June. BLS and Census Bureau staff have been reviewing survey responses that might have been misclassified.
In general, the unemployment numbers almost always get retroactively adjusted after the initial monthly report.
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Except it also used to be the case that presidents didn’t get advanced information on the unemployment numbers or other vital statistics related to work force measurements that could affect the markets because it was considered embargoed data by those agencies until its release. That was the case I thought until tRump came along. I believe he’s let the cat out of the bag on a few occasions with comments ahead of the release to the public over the years.
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