WASHINGTON (AP) — America’s employers sharply scaled back their hiring last month as the viral pandemic accelerated across the country, adding 245,000 jobs, the fewest since April and the fifth straight monthly slowdown.
Haven’t analyzed the math. But we read of tens of millions of people out of work. Jobs lost that are never coming back. Thousands of companies bankrupt, closed for good, or so downsized they’re ghosts of their former selves. Yet unemployment is only 6.7%. 6.7% doesn’t seem a terrible number in the grand scheme of things, and certainly doesn’t seem to accord with the dismal reporting on those out of work and the state of business in many sectors. Kinda hard to square in my mind.
Anounced on MSMBC, the reason for the low unemployment rate is because so many people droped out of the job market so they are no longer counted.
Yes; 400,000 people left the labor market. That’s much more than the number of new jobs.
Hey, I’m still waiting for the virus to magically disappear!
Heck of a job, Trumpty Dumpty!
This is why the GOP will not pass a strong Relief Bill.
This is why I think looking at the Employment Rate (rather than Unemployment Rate) is likely a better measure right now. From the St. Louis Fed:
Basically, we have “recovered” back to the lowest point of the Great Recession.
We’re going to have a double dip recession, and it’s all the fault of the Republicans. If they encouraged the right health response, we wouldn’t have this wave of infection piling onto the nation, and the economy would have bounced back pretty strongly for the most part. If they passed the HEROES act and pumped money into the economy, we’d see people holding it together financially, and not be worried about the millions who may lose their housing in January.
Instead, the pandemic is running out of control, everything is slowing down because of it, people are scared, and it’s freezing the economy. And, without support, we’re going to see more hungry and homeless people. All due to the Republicans.
History won’t forget this, how bad it’s about to be, and will blame the right people…we’ll see if voters remember that it’s Republican’s fault in 2022, though I fear they will lay it on Biden as he takes over as things really fall apart.
Also, the trump administration hasn’t been counting people furloughed because of Covid-related restrictions as unemployed. For example, if bars are forced to scale-back or close in an area because of Covid-related restrictions, the employees no longer working are not considered unemployed because the bars might reopen someday…
Here is an idea. When Biden gets in he should stop ALL aid to every single fucking red state. Let their economies creater and let their hospitals go belly up. I’m sick of Trumpy and GOP blaming everything on blue states. Lets just fuck the red states.
No, because that would make us just like them.
What we can do is make future aid conditional on meeting certain conditions, as we do with things like Medicaid expansion. This makes it clear that you are receiving federal aid, and it’s your own “leadership” that has refused the help.
Agree to disagree. There has to be consequences for their not recognizing Biden as President and trying to blame Covid on blue states. No one learns a lesson or changes behavior without consequences.
I definitely agree with this, but am proposing what I might call a more “subtle” mechanism, to help prevent the asshole republican messaging machine doing more of its famous projection. I’m all for consequences, but within a rule-based system where they can choose to “do it right” and be rewarded for it, or “do it wrong” and be punished for it.
As a resident of a red state, I say we have to stop this absolutist nonsense of “let them secede” and “cut them off” and “defund their asses,” or whatever.
Make support conditional to provide incentives, sure, but don’t just sweep all us red state liberals into the fire because you’re pissed we’re in the minority.
And when you’ve established the conditional requirements, there must be in-state advertising campaigns that point out that it’s STATE officials who are refusing to fulfill the Federal requirements to get the aid/support.
