America's jobs crisis could be about to get even worse
By Anneken Tappe, CNN Business Updated 9:23 AM ET, Wed August 5, 2020
New York (CNN Business) America's fragile jobs market recovery, after just two months of improvement, appears to be losing steam as Covid-19 infections rise and federal funds for businesses begin to dry up. On Friday, the US government is set to release its monthly jobs report, and economists are predicting another 1.6 million jobs were added in July — a sharp slowdown from the 4.8 million added in June.
That would bring the monthly unemployment rate to 10.5% in July
If those predictions hold true, America would still be down some 13 million jobs since February, and the unemployment rate would still be higher than at the peak of the 2007-09 financial crisis.
America's jobs crisis could be about to get even worse
By Anneken Tappe, CNN Business Updated 9:23 AM ET, Wed August 5, 2020
New York (CNN Business) America's fragile jobs market recovery, after just two months of improvement, appears to be losing steam as Covid-19 infections rise and federal funds for businesses begin to dry up. On Friday, the US government is set to release its monthly jobs report, and economists are predicting another 1.6 million jobs were added in July — a sharp slowdown from the 4.8 million added in June.
That would bring the monthly unemployment rate to 10.5% in July
If those predictions hold true, America would still be down some 13 million jobs since February, and the unemployment rate would still be higher than at the peak of the 2007-09 financial crisis.
America's jobs crisis could beabout to get even worse By Anneken Tappe, CNN BusinessUpdated 9:23 AM ET, Wed August 5, 2020 New York (CNN Business) America's fragile jobs market recovery, after just two months of improvement, appears to be losing steam as Covid-19 infections rise and federal funds for businesses begin to dry up.On Friday, the US government is set to release its monthly jobs report, and economists are predicting another 1.6 million jobs were added in July — a sharp slowdown from the 4.8 million added in June. That would bring the monthly unemployment rate to 10.5% in July If those predictions hold true, America would still be down some 13 million jobs since February, and the unemployment rate would still be higher than at the peak of the 2007-09 financial crisis. Source: https://tinyurl.com/yxv4m2xl
This will be interesting to see
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Quote Originally Posted by fubah2:
America's jobs crisis could beabout to get even worse By Anneken Tappe, CNN BusinessUpdated 9:23 AM ET, Wed August 5, 2020 New York (CNN Business) America's fragile jobs market recovery, after just two months of improvement, appears to be losing steam as Covid-19 infections rise and federal funds for businesses begin to dry up.On Friday, the US government is set to release its monthly jobs report, and economists are predicting another 1.6 million jobs were added in July — a sharp slowdown from the 4.8 million added in June. That would bring the monthly unemployment rate to 10.5% in July If those predictions hold true, America would still be down some 13 million jobs since February, and the unemployment rate would still be higher than at the peak of the 2007-09 financial crisis. Source: https://tinyurl.com/yxv4m2xl
Another 1.2 million Americans filed for unemployment benefits last week Thu August 6, 2020 Thursday’s report reflected the twentieth straight week that new claims topped 1 million, as the pandemic forced furloughs and layoffs across the country. Since the week ended March 20, more than 55 million individuals filed for new unemployment insurance claims. First-time jobless claims peaked at 6.9 million in the last week of March and then declined for four months. But around mid-July, they reversed directions and rose again.That's not a good look for a labor market that desperately needs to recover after millions of workers were displaced by the pandemic. Those numbers are only regular jobless benefits and don't include the pandemic assistance the government rolled out over the past months. On Wednesday, the closely watched ADP National Employment Report showed private payrolls rose by a meager 167,000 in July. Consensus economists had expected private employers added back 1.2 million payrolls. Source: https://tinyurl.com/y4bwgata
thats true . the real jobless numers r much higher than reported by trumps people
"I'm the MOST HONEST HUMAN BEING that God has EVER created!!" - Donald Trump
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Quote Originally Posted by fubah2:
Another 1.2 million Americans filed for unemployment benefits last week Thu August 6, 2020 Thursday’s report reflected the twentieth straight week that new claims topped 1 million, as the pandemic forced furloughs and layoffs across the country. Since the week ended March 20, more than 55 million individuals filed for new unemployment insurance claims. First-time jobless claims peaked at 6.9 million in the last week of March and then declined for four months. But around mid-July, they reversed directions and rose again.That's not a good look for a labor market that desperately needs to recover after millions of workers were displaced by the pandemic. Those numbers are only regular jobless benefits and don't include the pandemic assistance the government rolled out over the past months. On Wednesday, the closely watched ADP National Employment Report showed private payrolls rose by a meager 167,000 in July. Consensus economists had expected private employers added back 1.2 million payrolls. Source: https://tinyurl.com/y4bwgata
thats true . the real jobless numers r much higher than reported by trumps people
America's jobs crisis could be about to get even worse
CNN Business, Fri August 7, 2020
Although most economists say the pace of the recovery slowed in July, some say it reversed. Oxford Economics senior US economist Lydia Boussour says she expects Friday's report to show a loss of 280,000 jobs, rather than a gain. That would signal even more clearly that the foundation of the recovery is cracking.
Another government jobs survey, from the Census Bureau, indicated a decline in jobs last month. Meanwhile, President Donald Trump boasted on FOX that America would see "another big job number on Friday."
Initial claims for unemployment benefits ticked up around mid-July, putting an end to four months of declines.
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Are we going to see a fudged jobs report today?
===================================
America's jobs crisis could be about to get even worse
CNN Business, Fri August 7, 2020
Although most economists say the pace of the recovery slowed in July, some say it reversed. Oxford Economics senior US economist Lydia Boussour says she expects Friday's report to show a loss of 280,000 jobs, rather than a gain. That would signal even more clearly that the foundation of the recovery is cracking.
Another government jobs survey, from the Census Bureau, indicated a decline in jobs last month. Meanwhile, President Donald Trump boasted on FOX that America would see "another big job number on Friday."
Initial claims for unemployment benefits ticked up around mid-July, putting an end to four months of declines.
Boston Fed president warns the economy won't recover until coronavirus is controlled
From CNN Business' Anneken Tappe
America has started on the long and arduous path to recovery, but there are plenty of hurdles in its way until Covid-19 has been effectively contained or eradicated, said Eric Rosengren, president of the Federal Reserve Bank of Boston.
As long as the virus poses a threat, consumers will be more cautious. And that will keep them from engaging in the kind of economic activity (meaning spending) they engaged in before, he said.
The central banker also said he thinks the recovery is losing steam, saying that "the recent slowdown in economic activity…is likely to continue."
1
Boston Fed president warns the economy won't recover until coronavirus is controlled
From CNN Business' Anneken Tappe
America has started on the long and arduous path to recovery, but there are plenty of hurdles in its way until Covid-19 has been effectively contained or eradicated, said Eric Rosengren, president of the Federal Reserve Bank of Boston.
As long as the virus poses a threat, consumers will be more cautious. And that will keep them from engaging in the kind of economic activity (meaning spending) they engaged in before, he said.
The central banker also said he thinks the recovery is losing steam, saying that "the recent slowdown in economic activity…is likely to continue."
Boston Fed president warns the economy won't recover until coronavirus is controlled From CNN Business' Anneken Tappe America has started on the long and arduous path to recovery, but there are plenty of hurdles in its way until Covid-19 has been effectively contained or eradicated, said Eric Rosengren, president of the Federal Reserve Bank of Boston. As long as the virus poses a threat, consumers will be more cautious. And that will keep them from engaging in the kind of economic activity (meaning spending) they engaged in before, he said. The central banker also said he thinks the recovery is losing steam, saying that "the recent slowdown in economic activity…is likely to continue."
So essentially do not expect the economy to recover until 3-6 months into Biden's first term in 2021?
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Quote Originally Posted by fubah2:
Boston Fed president warns the economy won't recover until coronavirus is controlled From CNN Business' Anneken Tappe America has started on the long and arduous path to recovery, but there are plenty of hurdles in its way until Covid-19 has been effectively contained or eradicated, said Eric Rosengren, president of the Federal Reserve Bank of Boston. As long as the virus poses a threat, consumers will be more cautious. And that will keep them from engaging in the kind of economic activity (meaning spending) they engaged in before, he said. The central banker also said he thinks the recovery is losing steam, saying that "the recent slowdown in economic activity…is likely to continue."
So essentially do not expect the economy to recover until 3-6 months into Biden's first term in 2021?
Quote Originally Posted by fubah2: Boston Fed president warns the economy won't recover until coronavirus is controlled From CNN Business' Anneken Tappe America has started on the long and arduous path to recovery, but there are plenty of hurdles in its way until Covid-19 has been effectively contained or eradicated, said Eric Rosengren, president of the Federal Reserve Bank of Boston. As long as the virus poses a threat, consumers will be more cautious. And that will keep them from engaging in the kind of economic activity (meaning spending) they engaged in before, he said. The central banker also said he thinks the recovery is losing steam, saying that "the recent slowdown in economic activity…is likely to continue." So essentially do not expect the economy to recover until 3-6 months into Biden's first term in 2021?
Yeah, Dee...unfortunately, it looks like ONCE AGAIN the Democrats will be handed the ball 4th and very long inside their own 3 from a REPUBLICAN regime......sigh....
2
Quote Originally Posted by DeezyAZ81:
Quote Originally Posted by fubah2: Boston Fed president warns the economy won't recover until coronavirus is controlled From CNN Business' Anneken Tappe America has started on the long and arduous path to recovery, but there are plenty of hurdles in its way until Covid-19 has been effectively contained or eradicated, said Eric Rosengren, president of the Federal Reserve Bank of Boston. As long as the virus poses a threat, consumers will be more cautious. And that will keep them from engaging in the kind of economic activity (meaning spending) they engaged in before, he said. The central banker also said he thinks the recovery is losing steam, saying that "the recent slowdown in economic activity…is likely to continue." So essentially do not expect the economy to recover until 3-6 months into Biden's first term in 2021?
Yeah, Dee...unfortunately, it looks like ONCE AGAIN the Democrats will be handed the ball 4th and very long inside their own 3 from a REPUBLICAN regime......sigh....
New York (CNN Business) Another 963,000 Americans filed for regular first-time unemployment benefits last week on a seasonally adjusted basis.
For 20 straight weeks, the number of people filing for first time-unemployment consistently came in at more than 1 million, peaking at nearly 7 million at the end of March. While the decline is a positive sign, the numbers are still historically high!!
Even during the Great Recession just over a decade ago, jobless claims weren't as high as in the current crisis!! (enabled by trump's blunders)
Another lesson from the Great Recession: it took nearly five years — from its peak in 2009 until 2014 — for claims to come back down to where they were before the financial crisis!!
The latest numbers are a reminder that recovery from the current pandemic recession won't be an easy or quick feat!!
New York (CNN Business) Another 963,000 Americans filed for regular first-time unemployment benefits last week on a seasonally adjusted basis.
For 20 straight weeks, the number of people filing for first time-unemployment consistently came in at more than 1 million, peaking at nearly 7 million at the end of March. While the decline is a positive sign, the numbers are still historically high!!
Even during the Great Recession just over a decade ago, jobless claims weren't as high as in the current crisis!! (enabled by trump's blunders)
Another lesson from the Great Recession: it took nearly five years — from its peak in 2009 until 2014 — for claims to come back down to where they were before the financial crisis!!
The latest numbers are a reminder that recovery from the current pandemic recession won't be an easy or quick feat!!
(CNN) US Secretary of State Mike Pompeo on Monday announced a major reversal of the US' longstanding policy on Israeli settlements in the occupied West Bank, rejecting a 1978 State Department legal opinion that deemed the settlements "inconsistent with international law."
The announcement, which breaks with international law and consensus, is the latest in a string of hardline, pro-Israeli moves that are likely to inflame tensions between the Trump administration and Palestinians and widen the divide between the Trump administration and traditional US allies in Europe.
(CNN) US Secretary of State Mike Pompeo on Monday announced a major reversal of the US' longstanding policy on Israeli settlements in the occupied West Bank, rejecting a 1978 State Department legal opinion that deemed the settlements "inconsistent with international law."
The announcement, which breaks with international law and consensus, is the latest in a string of hardline, pro-Israeli moves that are likely to inflame tensions between the Trump administration and Palestinians and widen the divide between the Trump administration and traditional US allies in Europe.
Trump says he opposes funding USPS because of mail-in voting
(CNN)President Donald Trump said Thursday that he opposes much-needed funding for the United States Postal Service because he doesn't want to see it used for mail-in voting this November. By directly linking USPS funding to mail-in voting, Trump is fueling allegations that he is trying to manipulate the postal system for political gain.
The pandemic has led to record-shattering levels of voting-by-mail, but Trump has tried to restrict the voting method because HE SAYS it will hurt his re-election and Republicans across the board.
During an interview on Fox News, Trump said that if USPS does not receive the additional $25 billion funding request that Democrats included in the ongoing stimulus negotiations, then he believes the Post Office won't be able to handle the influx of mail-in ballots in the upcoming election.
""The President of the United States is sabotaging a basic service that hundreds of millions of people rely upon, cutting a critical lifeline for rural economies and for delivery of medicines, because he wants to deprive Americans of their fundamental right to vote safely during the most catastrophic public health crisis in over 100 years," Biden campaign spokesman Andrew Bates said in a statement. Source: https://tinyurl.com/y37koz44
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Trump says he opposes funding USPS because of mail-in voting
(CNN)President Donald Trump said Thursday that he opposes much-needed funding for the United States Postal Service because he doesn't want to see it used for mail-in voting this November. By directly linking USPS funding to mail-in voting, Trump is fueling allegations that he is trying to manipulate the postal system for political gain.
The pandemic has led to record-shattering levels of voting-by-mail, but Trump has tried to restrict the voting method because HE SAYS it will hurt his re-election and Republicans across the board.
During an interview on Fox News, Trump said that if USPS does not receive the additional $25 billion funding request that Democrats included in the ongoing stimulus negotiations, then he believes the Post Office won't be able to handle the influx of mail-in ballots in the upcoming election.
""The President of the United States is sabotaging a basic service that hundreds of millions of people rely upon, cutting a critical lifeline for rural economies and for delivery of medicines, because he wants to deprive Americans of their fundamental right to vote safely during the most catastrophic public health crisis in over 100 years," Biden campaign spokesman Andrew Bates said in a statement. Source: https://tinyurl.com/y37koz44
Everybody knows mass mail in voting is fraught w problems, like mailing ballots out to dead people, people who have moved, etc. So, just who is filling out these ballots FUBAR ? No thanks. I bet your next best idea is to allow voting over the internet. Lol. What could go wrong there ! Don't forget to properly affix your dunce cap.
1
Everybody knows mass mail in voting is fraught w problems, like mailing ballots out to dead people, people who have moved, etc. So, just who is filling out these ballots FUBAR ? No thanks. I bet your next best idea is to allow voting over the internet. Lol. What could go wrong there ! Don't forget to properly affix your dunce cap.
Appearing Wednesday night on Sean Hannity's show on Fox News, Pence said, "We've already created more jobs in the last three months than Joe Biden and Barack Obama created in their eight years in office." Pence later posted a tweet that repeated the FALSE claim.
Facts First: Pence's "last three months" time frame is absurd: he is boasting about the addition of about 9.3 million jobs in May, June and July right after a loss of about 22.2 million jobs in March and April; the economy is still down nearly 13 million jobs because of the coronavirus crisis (which trump enabled!) (Also, many of the added jobs were people returning to their previous jobs after temporary layoffs.) And even if you accept Pence's dishonest premise, it's not true that these last three months saw more jobs added than were added in the eight years of the Obama administration.
It clearly doesn't make sense to compare the last three months of Trump's tenure to the entire 8 year Obama admin. But even if you feel like doing this comparison for some silly reason, Pence is still wrong! There were about 11.6 million jobs added under Obama and Biden from February 2009, their first full month in office, through January 2017, when Trump took office -- far more than the 9.3 million added under Trump in May, June and July of this year. Source: https://tinyurl.com/y4n84ng2
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Fact check: Pence makes wildly dishonest claim
By Daniel Dale, CNN
Appearing Wednesday night on Sean Hannity's show on Fox News, Pence said, "We've already created more jobs in the last three months than Joe Biden and Barack Obama created in their eight years in office." Pence later posted a tweet that repeated the FALSE claim.
Facts First: Pence's "last three months" time frame is absurd: he is boasting about the addition of about 9.3 million jobs in May, June and July right after a loss of about 22.2 million jobs in March and April; the economy is still down nearly 13 million jobs because of the coronavirus crisis (which trump enabled!) (Also, many of the added jobs were people returning to their previous jobs after temporary layoffs.) And even if you accept Pence's dishonest premise, it's not true that these last three months saw more jobs added than were added in the eight years of the Obama administration.
It clearly doesn't make sense to compare the last three months of Trump's tenure to the entire 8 year Obama admin. But even if you feel like doing this comparison for some silly reason, Pence is still wrong! There were about 11.6 million jobs added under Obama and Biden from February 2009, their first full month in office, through January 2017, when Trump took office -- far more than the 9.3 million added under Trump in May, June and July of this year. Source: https://tinyurl.com/y4n84ng2
Mail in voting isn't perfect but there's no proof of massive fraud taking place. We have similar issues with SS checks going to deceased people. So is your plan to stop mailing checks because of these isolated instances? Stop drinking the Kool-aid.
SS checks going to deceased people is a little different than deciding the outcome for our next election ? Agreed ?
And to answer your first question, we haven't done this mail in voting on a "massive scale," so how could their be any history of fraud ?
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Quote Originally Posted by Midnight1:
Mail in voting isn't perfect but there's no proof of massive fraud taking place. We have similar issues with SS checks going to deceased people. So is your plan to stop mailing checks because of these isolated instances? Stop drinking the Kool-aid.
SS checks going to deceased people is a little different than deciding the outcome for our next election ? Agreed ?
And to answer your first question, we haven't done this mail in voting on a "massive scale," so how could their be any history of fraud ?
Lifelong Republican: "I'm voting Biden because I'm disgusted"
Some Republicans voters in Arizona say they are dissatisfied with the way President Trump has handled the response to coronavirus pandemic and are organizing to defeat him in 2020.
Lifelong Republican: "I'm voting Biden because I'm disgusted"
Some Republicans voters in Arizona say they are dissatisfied with the way President Trump has handled the response to coronavirus pandemic and are organizing to defeat him in 2020.
Quote Originally Posted by Midnight1: Mail in voting isn't perfect but there's no proof of massive fraud taking place. We have similar issues with SS checks going to deceased people. So is your plan to stop mailing checks because of these isolated instances? Stop drinking the Kool-aid. SS checks going to deceased people is a little different than deciding the outcome for our next election ? Agreed ? And to answer your first question, we haven't done this mail in voting on a "massive scale," so how could their be any history of fraud ?
First, Trump appointed Kobach to find alleged voter fraud that took place after the 2016 election & he came back empty. Nothing, Zilch. Nada. So propagation of this bullshit is just that....bullshit. I do recall the dude in North Carolina who was caught ballot tampering in 2018 but it was localized & not on a national scale. People have been voting by mail for decades including our heroes in the military & there is no evidence of any hanky-panky. To believe all of a sudden we will have hugeeeee fraud because there is an increase in voting by mail has no basis in fact.
1
Quote Originally Posted by Rush51:
Quote Originally Posted by Midnight1: Mail in voting isn't perfect but there's no proof of massive fraud taking place. We have similar issues with SS checks going to deceased people. So is your plan to stop mailing checks because of these isolated instances? Stop drinking the Kool-aid. SS checks going to deceased people is a little different than deciding the outcome for our next election ? Agreed ? And to answer your first question, we haven't done this mail in voting on a "massive scale," so how could their be any history of fraud ?
First, Trump appointed Kobach to find alleged voter fraud that took place after the 2016 election & he came back empty. Nothing, Zilch. Nada. So propagation of this bullshit is just that....bullshit. I do recall the dude in North Carolina who was caught ballot tampering in 2018 but it was localized & not on a national scale. People have been voting by mail for decades including our heroes in the military & there is no evidence of any hanky-panky. To believe all of a sudden we will have hugeeeee fraud because there is an increase in voting by mail has no basis in fact.
Trump says he's willing to give USPS money *if* Dems concede to 'some' funding asks in coronavirus relief package By Morgan Phillips | Fox News
President Trump said he would accept Democrats’ request for $25 billion for the postal service, including billions to bolster mail-in voting, if they were willing to bow on some of his concessions.
Well there we have it folks....trump is holding American's medicine and mail-needs *HOSTAGE* in order to extort concessions from Dems.
Recall he did something similar with the record 35 day gov't shutdown where he said he would shoulder the full responsibility...only to about face days later and blame it all on the dirty Dems.
1
posted on FOX website:
Trump says he's willing to give USPS money *if* Dems concede to 'some' funding asks in coronavirus relief package By Morgan Phillips | Fox News
President Trump said he would accept Democrats’ request for $25 billion for the postal service, including billions to bolster mail-in voting, if they were willing to bow on some of his concessions.
Well there we have it folks....trump is holding American's medicine and mail-needs *HOSTAGE* in order to extort concessions from Dems.
Recall he did something similar with the record 35 day gov't shutdown where he said he would shoulder the full responsibility...only to about face days later and blame it all on the dirty Dems.
THE PRESIDENT: "I’m only against — what I’m against is I’m against doing anything where the people aren’t taken care of, and the people aren’t being taken care of properly. We have — we want people to get money. It wasn’t their fault that they got shut down. They got shut down by China.
So whether it’s the Post Office or whether it’s the three and a half billion dollars — you know, they’re asking for three and a half billion dollars just for the universal mail-in ballots, but they’re not willing to make a deal. These are two points within a very big deal.
The thing they want more than anything else, Kaitlan — and you know this — is bailout money for the states and for the cities that are in trouble, which, for the most part, are Democrat-run states and cities. So New York has a problem, California has a problem, Illinois has a tremendous problem, and others. They want to be able to bail out these states, and we don’t want to be doing that, or certainly don’t want to do it to the extent. They’re looking for $1 trillion; we don’t want to be doing that."
The Democrats could help the American people but they care more about bailing out their failed states. Trump signed the executive order to help the American people and the Congress leaves town yesterday. House Speaker Nancy Pelosi has said she will not restart discussions until Republicans increase their aid offer by $1 trillion, a step the GOP does not want to take. I hope she enjoys her ice cream because the American people are starting to see that she doesn't give a Damn about them.
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Remarks from President Trump yesterday
THE PRESIDENT: "I’m only against — what I’m against is I’m against doing anything where the people aren’t taken care of, and the people aren’t being taken care of properly. We have — we want people to get money. It wasn’t their fault that they got shut down. They got shut down by China.
So whether it’s the Post Office or whether it’s the three and a half billion dollars — you know, they’re asking for three and a half billion dollars just for the universal mail-in ballots, but they’re not willing to make a deal. These are two points within a very big deal.
The thing they want more than anything else, Kaitlan — and you know this — is bailout money for the states and for the cities that are in trouble, which, for the most part, are Democrat-run states and cities. So New York has a problem, California has a problem, Illinois has a tremendous problem, and others. They want to be able to bail out these states, and we don’t want to be doing that, or certainly don’t want to do it to the extent. They’re looking for $1 trillion; we don’t want to be doing that."
The Democrats could help the American people but they care more about bailing out their failed states. Trump signed the executive order to help the American people and the Congress leaves town yesterday. House Speaker Nancy Pelosi has said she will not restart discussions until Republicans increase their aid offer by $1 trillion, a step the GOP does not want to take. I hope she enjoys her ice cream because the American people are starting to see that she doesn't give a Damn about them.
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Are we going to see a fudged jobs report today?
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