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Unemployment drops again

Discussion in 'General Politics' started by hislegacy, Aug 7, 2020.

  1. hislegacy

    hislegacy This is me.

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    We teamed up with Faith Counseling. Can they help you today?
  2. jgarden

    jgarden Senior Veteran

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    'Nothing compares': Unemployment filings top 1 million for 20th
    abcnews.go.com › Business › story

    2 days ago - In the last week of March, that was smashed by nearly tenfold as 6.9 million Americans filed for unemployment insurance in a single week.

    U.S. unemployment claims top 1 million for 20th week in a row ...
    www.theglobeandmail.com › business › economy › video...
    2 days ago - U.S. unemployment claims top 1 million for 20th week in a row. Published 1 day ago ... Doug Ford bashes ...

    Over a Million People Filed for Unemployment for 20th ... - AARP
    www.aarp.org › unemployment-numbers-august-6

    2 days ago - For the 20th straight week, more than a million people filed for unemployment benefits due to the coronavirus and the impact on the economy.

    Jobless claims top 1 million for 20th week
    www.arkansasonline.com › news › 2020 › aug › jobles..
    .
    2 days ago - Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, the Labor Department said Thursday, evidence that the ...


    Unemployment claims top 1 million for 20th straight week ...
    www.cbsnews.com › video › unemployment-claims-top-1...
    3 days ago - Nearly 1.2 million workers applied for unemployment benefits last week, marking the 20th straight week ...
    3 days ago

    For 20th week in a row, more than 1 million sought jobless aid ...
    www.newscentermaine.com › health › coronavirus › 1-..
    2 days ago - 1.2 million seek unemployment after $600 federal check ends. Thursday's report marked the 20th straight week at least 1 million people sought ...
    **************************************************************************************
    Unemployment drops again


    What "hislegacy" has conveniently failed to mention that this is the 20th consecutive week where over a million Americans have applied for unemployment benefits - they must all be "Trump Haters" trying to make the President look bad!

    Given that over 1 million Americans applied for unemployment benefits every week in July, how does "hislegacy's" boast that the economy added 1.8 million in the same month result in an actual decrease in unemployment - the numbers don't add up?
     
    Last edited: Aug 8, 2020
  3. childeye 2

    childeye 2 Well-Known Member

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  4. jgarden

    jgarden Senior Veteran

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    With over a million Americans applying for unemployment benefits every week, unless Trump and his supporters can demonstrate that the American economy is adding 4 to 5 million jobs every month, national unemployment will continue to climb and claims to the contrary are patently false!
     
  5. childeye 2

    childeye 2 Well-Known Member

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    The thing is that the economy is mostly being held up by a crutch of borrowed trillions. Trumpism aside, we'd better hope in God's mercy that the economy will survive this mess we're in.
     
  6. civilwarbuff

    civilwarbuff Well-Known Member Supporter

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    So you don't understand that the July 10.2% rate is lower than the June 11.1% rate? How hard is that to understand?
     
  7. civilwarbuff

    civilwarbuff Well-Known Member Supporter

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    It survived Obama doubling the national debt (without having to deal with a Chinese initiated pandemic) so there is a reasonable chance it will survive this though not without consequences such as higher taxes (especially state and local) and inflation.
     
  8. jgarden

    jgarden Senior Veteran

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    With over 1 million Americans filing for unemployment benefits every week in July, and only 1.8 million jobs being created, how does that translate into a decrease in unemployment?

    "We added more jobs than most people expected, but the gains really were disproportionately part-time workers," said Kate Bahn, economist and director of labor market policy at the Washington Center for Equitable Growth. "To me that means even if workers are coming back it's to jobs that pay less, and families will be worse off."

    Given that the number of Americans working part-time rose from 803,000 to 24 million in July, those 1.8 million jobs give a false impression because they don't reflect full time employment - many are in the service/retail sectors!

    In addition, seasonal jobs inflate the employment rate in the summer, so based on the seasonal adjustment rate, only 591,000 jobs were added in July - many farming jobs will only extend into the Autumn!

    July jobs report 2020: US economy added 1.8 million jobs in July but still down nearly 13 million jobs during the pandemic - CNN
     
    Last edited: Aug 8, 2020
  9. civilwarbuff

    civilwarbuff Well-Known Member Supporter

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    You got a link for that....like a real BLS or other .gov link?.....cuz I just don't believe that number.
    IIRC the numbers are already seasonally adjusted when reported.
     
  10. jgarden

    jgarden Senior Veteran

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    A survey from Cornell University showed that 31% of workers who were recently rehired have lost their jobs for a second time during the pandemic. Another 26% have been told that they might get laid off again.

    Meanwhile, the Federal Reserve Bank of St. Louis said states with more Covid cases since June also registered the weakest employment recovery. This was most notably true for Arizona, Florida and Texas.

    Without seasonal adjustments, only 591,000 jobs were added in July.

    July jobs report 2020: US economy added 1.8 million jobs in July but still down nearly 13 million jobs during the pandemic - CNN
    **************************************************************************************************************
    Seasonally adjusted employment increased by 1.8 million, without seasonal adjustments only 591,000 jobs were added in July!

    How ironic that the 3 states with Republican Governors who ignored the Trump Administration's own CDC guidelines in an effort to "LIBERATE" their economics at the behest of this President are the same jurisdictions that registered the weakest employment recovery!
     
    Last edited: Aug 8, 2020
  11. Arcangl86

    Arcangl86 Newbie

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    I'm also not sure if the BLS is counting people who had been temporarily laid off as unemployed. The numbers changes significant;y if they don't.
     
  12. childeye 2

    childeye 2 Well-Known Member

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    There are degrees of desperation, and all can be called surviving. I agree it's likely we will be hit from both sides in cost increases and taxes at least for a generation or two. Just how bad is the question. And who knows, maybe the mark of the beast and digital currency is right around the corner.
     
    Last edited: Aug 8, 2020
  13. civilwarbuff

    civilwarbuff Well-Known Member Supporter

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    One can only hope.......
     
  14. TexFire316

    TexFire316 Come as a child, with no agenda

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    We have a great president! MAGA 2020
     
  15. hislegacy

    hislegacy This is me.

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    May:

    New York (CNN Business)When the May jobs report dropped Friday morning, the numbers were shocking: US unemployment actually fell, defying virtually all economists' predictions.

    June:
    Unemployment rate fell to 11.1% in June, with 4.8 million jobs added

    July:


    rate.JPG


     
  16. civilwarbuff

    civilwarbuff Well-Known Member Supporter

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    I gotta hand it to you man, when you are wrong you are REALLY wrong.
     
  17. jgarden

    jgarden Senior Veteran

    +2,865
    Methodist
    'Nothing compares': Unemployment filings top 1 million for 20th
    abcnews.go.com › Business › story

    2 days ago - In the last week of March, that was smashed by nearly tenfold as 6.9 million Americans filed for unemployment insurance in a single week.

    U.S. unemployment claims top 1 million for 20th week in a row ...
    www.theglobeandmail.com › business › economy › video...
    2 days ago - U.S. unemployment claims top 1 million for 20th week in a row. Published 1 day ago ... Doug Ford bashes ...

    Over a Million People Filed for Unemployment for 20th ... - AARP
    www.aarp.org › unemployment-numbers-august-6

    2 days ago - For the 20th straight week, more than a million people filed for unemployment benefits due to the coronavirus and the impact on the economy.

    Jobless claims top 1 million for 20th week
    www.arkansasonline.com › news › 2020 › aug › jobles..
    .
    2 days ago - Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, the Labor Department said Thursday, evidence that the ...


    Unemployment claims top 1 million for 20th straight week ...
    www.cbsnews.com › video › unemployment-claims-top-1...
    3 days ago - Nearly 1.2 million workers applied for unemployment benefits last week, marking the 20th straight week ...
    3 days ago

    For 20th week in a row, more than 1 million sought jobless aid ...
    www.newscentermaine.com › health › coronavirus › 1-..
    2 days ago - 1.2 million seek unemployment after $600 federal check ends. Thursday's report marked the 20th straight week at least 1 million people sought ...
    **************************************************************************************
    Unemployment drops again


    Apparently Trump supporters now want to dismiss basic Arithmetic as "fake news" when it doesn't support their agenda - if over 1 million American's were registering for unemployment benefits every week in July, that would require the creation of 4 to 5 million new jobs monthly for the nation to "break even," not the 1.8 million being touted!

    Either these 4 to 5 million Americans registering for unemployment are not being added to the total, based on "creative Republican bookkeeping," and/or we shouldn't assume that many of the new positions are full-time, forcing workers to accept multiple part-time jobs thus distorting the employment statistics!
     
  18. civilwarbuff

    civilwarbuff Well-Known Member Supporter

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    You do understand they are reporting net gains or losses, right?
     
  19. hislegacy

    hislegacy This is me.

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    I see you mathematics and raise you actual numbers unemployed. 07533B15-DC01-44A3-8DC3-4A7FFF993636.jpeg
     
  20. Fantine

    Fantine Dona Quixote Supporter

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    I just listened to the president lie for one hour straight while driving. An hour! Everything is so completely vague, couched in 3rd grade level adjectives. He repeats the same thing over and over.

    He is so dishonest i feel sure the shots were orchestrated by his campaign to anger his base and get them to vote.

    I am just lied out. Democrats won't triple taxes, capital gains tax cuts won't create jobs. The stock market isn't helping everyday people. The stimulus is the only thing holding the economy up. Trump didn't prevent 1 million deaths. Using Korea as a comparison, Trump caused over 164,000 deaths.

    And worst of all stats show that young children, despite mild cases are super spreaders with a transmission rate of 22%.

    I am so tired of his fake news briefs--actually propaganda for the ignorant.
     
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