WASHINGTON (AP) — Unemployment falls to 11.1% as US added a record 4.8 million jobs in June, but pandemic dims outlook for further gains.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1318299
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1318299
16 Likes
On the other hand, if the pandemic really gets rolling again, and kills off a lot more people, that will bring the unemployment figures down, no? More vacancies means more opportunities, right?
7 Likes
This is good news! It certifies the pandemic is over, the economy is the greatest ever, Joe Biden is a Communist and black people don’t appreciate how glorious Donald Trump is.
14 Likes
Every town is going to need a “bring out your dead” guy.
6 Likes
Add that the prior months numbers from March, April and May have as yet to go through the normal process of being adjusted. Don’t expect that to happen until after November, if even then.
6 Likes
Is there a certification program for that?
I read something a few months ago (can’t find it now) by an historian who said that he was surprised when he started digging into whatever records remain from 14th Century Europe, a few years post-Black Death. He said that one would think that something that catastrophic would alter society in profound ways, for a few generations. Instead, he found that life mostly just went on. If you didn’t know that the Black Death had happened, it would be hard to deduce it from the post-apocalypse records.
There were some towns that no longer reported anything re: population, agricultural output, tax receipts, etc., because they were now empty. The only other notable thing was that because of the labor shortage, the peasants who worked the land were able to demand better compensation.
9 Likes
Meaningless.
https://twitter.com/paulkrugman/status/1278655407834247168
Basically, job gains in May and early June were a false dawn, driven by a reopening that wasn’t sustainable bc we hadn’t controlled the pandemic. Today’s report will be a monument to delusion, not an indicator of success 3/
Won’t stop Trump from bellowing out a huzzuah in the Rose Garden, though.
20 Likes
Yep. Meanwhile…
9 Likes
Meanwhile…
While the country is in dire need of a leader to mitigate Covid, mass & high unemployment, police brutality…Trump does NOT read his presidential daily brief…
Instead, Trump Went to Jared!
Meanwhile…
Suffice it to say, Trump is only concern about Trump!
7 Likes
A new single-day record?! We’re #1! We’re #1!!!ONE!!!
4 Likes
George Floyd would have been so proud!!!
5 Likes
Just another surreal day on the TPM front page among many others. No fault of TPM, but the news is beginning to make it look it is suffering severe mood swings.
Literally,
Hurrah! The country is coming back online again! We are all going to die!!!
6 Likes
Much of this data were collected prior to the latest virus surge. Also, a larger % of jobs cut are becoming permanent losses. This thread captures it. Of course, Trump is gonna be in ‘imma be me’ mode and just gloat over nothing and do another face plant.
10 Likes
If I read one more article talking about whether the economy is “roaring back,” I’ll scream (plaintively). Is it possible that a growing economy can do anything other than “roar”?
A second trend that will bring forth plaintive screaming from me: the use of “uptick” to describe a huge surge in Covid cases. I saw this most recently in an article from Bloomberg. On Fox News, there were references to a “severe uptick” (!).
5 Likes
Stupid libtards. We now have achieved full employment at every ICU in Texas!
7 Likes
Curb the enthusiasm.
The Department of Labor reported Thursday that 1.4 million workers – more than expected – filed for first-time unemployment benefits last week. Continued claims, which count people filing at least two weeks in a row, stood at 19.3 million, slightly more than the revised number of the prior week.
4 Likes
BAD HEADLINE… Jobs weren’t added, they simply re-hired people.
9 Likes
US “adds” 4.8 million jobs as unemployment falls to 11.1%
Thursday’s jobs report is based on data gathered in the second week of June, which helps explain why the figures reflect an improving trend. Last week’s plateau in work shifts will instead affect the July jobs figures, to be released in early August.
3 Likes
As expected, a big number on jobs — bigger than most expected, but that hardly matters. This is a snapshot of the economy in the 2nd week of June, before the new wave of infections became obvious and things starting going to hell. --Paul Krugman
ETA: If congress does not add a lot more funding stimulus to the economy, in support of the unemployed, health care and municipalities particularly, then we go to hell in a handbasket by August.
6 Likes