unemployment is at numbers we have not seen since the great depression, yet my retirement account just got back to where it was pre-covid and the housing industry is still booming like covid never happened. it really makes no sense and has me very concerned that we are about to fall off the cliff. you can only kick the can down the road for so long.
This economic downturn is really strange and I don't think it will really hit us until the Fiscal year is over or maybe even the Christmas shopping season. If there are still even half as many unemployed by then and Covid ends up keeping shoppers home, that's when the corporations are really going to be hurting and the economy will start showing signs of hurt.
Very interesting news. The May jobs report just came out and showed unemployment dropped. The rate is now 13.33% down from 14%. The data leading up to this was indicating that the rate should've risen.
JOBS GO BOOM! Trump's economic leadership will bring us out of this Democrat-governor induced recession. Oh, and Florida Governor Ron DeSantis looks like a complete genius for his handling of COVID - against all of the media morons intimidation and scare tactics. He's looking good for the 2024 Presidential race. GOOD DAY
True... but I guess all president tout the positives and even exaggerate them. In my business they call that "making hay while the sun is shining". So I don't begrudge him "making hay" in the midst of all the horrible things he is doing/causing. It will be interesting to see what happens when PPP is over. Will companies change their hiring/employment behavior or is this "the new world of work"?
DeSatanist was caught fudging the numbers on Covid cases and deaths. Your line about Trump/economy, Democrat/recession is the line we all knew he would try to sell. The only question is, Are you a paid troll, or do you give it away for free?
I'm sorry that you are disappointed with COVID disappearing and jobs coming back. It might be time for introspection.
We'll likely be working from home for a while, as far as my company goes, and fingers crossed no big furloughs / layoffs at the end of Q2 (end of June) when they have the numbers roll in. But, regardless, I think they also see the upside: don't have to pay for electricity for all those people, don't have to pay for our coffee or the mixed nuts (making us fat but not as fat as quarantine), etc.
According to a source at Yahoo, the numbers are massaged. "The Labor Dept only counted the last two weeks of May as businesses reopened. The Dept left out the 3 million jobs lost earlier in the month. This jobs report will be revised downward next month." Why do that? We are not China.
https://www.bls.gov/news.release/empsit.nr0.htm "If the workers who were recorded as employed but absent from work due to "other | | reasons" (over and above the number absent for other reasons in a typical May) had | | been classified as unemployed on temporary layoff, the overall unemployment rate | | would have been about 3 percentage points higher than reported (on a not seasonally | | adjusted basis). However, according to usual practice, the data from the household | | survey are accepted as recorded. To maintain data integrity, no ad hoc actions are | | taken to reclassify survey responses."
Liberals always accuse conservatives of misdeeds that the liberals actually did. It's a proven fact that the Obama Administration in 2012 manipulated the labor department survey to bring unemployment below 8%, to match a previous Obama promise... in the weeks leading up to the election. https://nypost.com/2013/11/18/census-faked-2012-election-jobs-report/ In the home stretch of the 2012 presidential campaign, from August to September, the unemployment rate fell sharply — raising eyebrows from Wall Street to Washington. The decline — from 8.1 percent in August to 7.8 percent in September — might not have been all it seemed. The numbers, according to a reliable source, were manipulated. And the Census Bureau, which does the unemployment survey, knew it. Just two years before the presidential election, the Census Bureau had caught an employee fabricating data that went into the unemployment report, which is one of the most closely watched measures of the economy. And a knowledgeable source says the deception went beyond that one employee — that it escalated at the time President Obama was seeking reelection in 2012....
