trump's economy failing; worse than Obama's last 3

rump seems to think the economy is thestock market .

it isnt

and theres still massive debts to deal with       most ever in one year is by him

The economic recession caused by trump's failed Covid-19 pandemic response
has disproportionately affected women by almost every measure. And, in the US,
the economic downturn is hitting women of color the hardest, according to
C. Nicole Mason, president and CEO of the Institute for Women's Policy Research.

"We're talking about women who earn less than $40,000 a year, who are ...
grocery store clerks, restaurant workers, who if you don't show up for work -
- meaning a physical place -- you won't be paid," Mason said on a recent
episode of "Coronavirus: Fact vs. Fiction" podcast. "So it's just a really
very difficult time for many of these women and many of these workers. "

women  and also minorities 

Biden campaign ads will highlight this *FACT* in coming weeks, in swing states ...

About 60% of all businesses
that closed during trump's pandemic
         won't reopen

New York - About 60% of businesses that have closed during the
coronavirus pandemic will never reopen, and restaurants have
suffered the most, according to new data from Yelp.

As of August 31, nearly 163,700 businesses on Yelp have closed since March 1,
the company said, marking a 23% increase from July 10. 
Of those, about 98,000 say they've shut their doors for good.

Of all closed businesses, about 32,100 are restaurants, and
close to 19,600, or about 61%, have closed permanently.

This week, the National Restaurant Association said that 100,000
restaurants have closed either permanently or long-term,
adding that the sector is on track to lose $240 billion in sales this year.

Survey: 74% of hotels will have to
lay off even more employees
without new stimulus deal

USA TODAY
Currently, 68% of hotels in the U.S. have half their pre-pandemic staff working
full-time. Half of hotel owners said that due to the pandemic, they are in danger
of foreclosure. What's more: More than two-thirds of hotels said that at current
projected revenue and occupancy levels, without more relief, they could
only last six more months.
Four out of 10 hotel workers are still unemployed. (thanks to trump)

It's not just hotels. The days are quickly counting down for thousands of pilots,
flight attendants, gate agents and other airline workers who face the prospect
of being laid off at the end of September if Congress doesn't come through 
with a new stimulus agreement.

Earlier this month, the Republican-led Senate failed to reach the 60-vote minimum
needed to pass a slimmed-down, $300 billion GOP coronavirus relief package
which didn't allocate any aid for the airline industry.

Six months into the pandemic,
the US economic outlook
is getting gloomier

CNN
Mark Zandi, chief economist at Moody's Analytics said,
"Six months in, we're still a long, long way from getting back to normal."

The economic recovery is expected to be a "long slog," Zandi said,
estimating that by the end of the year, the US economy will still be
down about 10 million jobs from its pre-pandemic peak. He doesn't think
America will return to full employment until the second half of 2023.

That sobering forecast depends on two factors:
the virus doesn't get worse and fiscal policy comes to the rescue.

Right now, the outlook isn't great on either of those fronts.
After weeks of declines, coronavirus cases are on the rise again in the US,
just ahead of colder weather and flu season.

On Friday, economists at Goldman Sachs warned that they might have to
downgrade their forecast for economic growth in the fourth quarter if
lawmakers fail to approve additional stimulus.

The economic outlook isn’t good after shutting the country down for 6 months? 

Who woulda thunk it 

Out of box? Good to see ya again, Fubah2! 

Thanks, Europa!   The Ref flagged me for a foul -- and he was/is correct.

Meanwhile, lots of  political and correlated health/economic news to catch up on as things are flying fast and furious in our news cycle as we approach the debates, then the election -- which trump apparently refuses to conceed to Joe Biden when America votes to replace trump with a good person.

Another 870,000 Americans filed
for unemployment benefits last week

America's recovery from the pandemic continues to slow.

That was visible again in the Labor Department's weekly jobless claims report Thursday.
Another 870,000 workers filed first-time claims for unemployment

"The jobless claims data paint a picture of a labor market recovery that's struggling,"
said Nancy Vanden Houten, lead US economist at Oxford Economics.

The number of people in the Pandemic Emergency Unemployment Compensation program
-- those are workers who have exhausted their state benefit programs -- has increased.

Another 630,080 Americans filed for Pandemic Unemployment Assistance claims,
which Congress created in the wake of the crisis to help those not eligible for regular
jobless benefits including the self-employed.

Adding PUA claims and unadjusted regular first-time claims together,
nearly 1.5 million people applied for government benefits last week.

Source: https://tinyurl.com/y4nonde3

The Obama administration posted a modest 2% growth over eight years,
after inheriting the worst economic downturn since the Great Depression
from the G. W. Bush years, with the U.S. losing nearly 800,000 jobs a month.

During Obama's two terms, the economy added jobs for 75 straight months
and ended with the highest level of household income ever recorded,
according to Factcheck.org.

https://tinyurl.com/y99pyuy5

This could be the worst day of job losses
in aviation history

After attempts to secure more federal money failed, American Airlines (AAL)
and United Airlines (UAL) have said they will cut a total of 32,000 jobs.
"Today is a very sad day for all of us here at United,"
CEO Scott Kirby said in a letter to workers.

The airline industry, which is grappling with ongoing travel restrictions and lower
demand due to Covid-19, isn't the only sector under strain. Disney (DIS) said
earlier this week that it would lay off 28,000 people in the United States as the
pandemic continues to hammer its parks and resorts business. Shell (RDSA)
said it would cut up to 9,000 jobs as part of its shift to low-carbon energy.
Even Goldman Sachs (GS) is resuming layoffs, which had been paused.
Source: https://tinyurl.com/yccjhynk

New York (CNN Business) America's jobs recovery continues, albeit at a slow pace,
as another 837,000 Americans filed for first-time unemployment benefits last week,
on a seasonally adjusted basis.

Claims under the Pandemic Unemployment Assistance program that Congress created
to help workers who wouldn't usually be eligible for benefits, such as the self-employed,
stood at 650,120.
Adding these together, there were 1.4 million total first-time claims for benefits
last week, roughly even with the prior week.
The slowing pace of the decline in initial jobless claims is another piece
of evidence that the economic recovery is running out of steam.

rumps america  

  humming like a fine tuned jet engine          parked idly off the runway      empty

Right.  The self-proclaimed awesome deal maker has FAILED to make a deal happen to prevent this from happening.

But I am sure, that if Pelosi and Schumer are able to make a deal happen to save the airlines TRUMP WILL CLAIM *HE* SAVED THE AIRLINES FROM MILLIONS OF LAYOFFS!   LOL

USA TODAY
The entire U.S. travel industry employed 15.8 million Americans,
about one of every 10 jobs, before the pandemic.
More than half those jobs have been wiped out, said Roger Dow,
CEO of the U.S. Travel Association. – Chris Woodyard

great post

That is exactly what the racist/rapist/fascist will do!

A study by the Federal Reserve Bank of New York found that the percentage of people
transitioning into unemployment rose to the highest on record in July: 10.5%,
with the trend most visible for workers over 45, those with a household income below
$60,000 and women. The latter are two of the groups worst affected by this crisis.
Source: https://tinyurl.com/y8oaxu4s

Trump has the worst job losses
on record heading into the election

The economy added 661,000 jobs in September, the Bureau of Labor Statistics
said Friday. The unemployment rate stood at 7.9%.
This is the highest the unemployment rate has been ahead of a presidential
election since the government started tracking the monthly rate in 1948.

September job growth slowed significantly from the 1.4 million jobs added in August.

Comparing presidents' jobs records in their first 44 months in office over
the same time period, Trump comes dead last.

Source: https://tinyurl.com/yxozlxtc

Trump administration claim of V-shaped recovery appears increasingly delusional.  A K-shaped recovery is more probable with increasing income inequality.  The rich become richer while the poor become poorer.  Trump has no plan to create good jobs for millions of people under employed.  But Biden has a plan to spend $2 trillion on infrastructure and clean energy to create good jobs.  According to Moody analytics study, lesser economic recovery in jobs and economic growth if republicans win congress and white house.  Greater economic recovery if democrats sweep elections.

dead last for jobs record

u would never know that fact if u only listened to rightwing sources

good post . all true

dems have a lot of experience at recovering from repo failures .

like the firefighters    after the arsonist flees the scene

Nearly 4 million US jobs
have vanished FOREVER

There's mounting evidence that the pandemic is dealing a lasting blow to the
American economy, with millions of jobs vanishing forever.
The number of unemployed people classified as permanently losing their old jobs
climbed by 345,000 in September to a seven-year high of 3.8 million, according
to seasonally adjusted numbers from the Bureau of Labor Statistics.

That means that what many initially hoped were furloughs or temporary job losses
are becoming permanent as businesses shut down and cut costs. This closely
watched labor market measure has nearly tripled since sinking to a 19-year low
in February, just before the pandemic erupted in the United States.
Source: https://tinyurl.com/yyapsntk

Previously, Trump promises to be the greatest jobs creation president.  Actually, Trump would be the first president on record since Truman to leave the white house with fewer jobs than when he started if he loses November election.  3.9 million jobs lost between January 2017 and September 2020 according to Bureau of labor statistics.  Under Trump, US has become poorer, sicker and weaker.  US cannot afford another 4 years of Trump's incompetence.