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Well, actually it is 16.3%, after they realized they did the accounting wrong.

Seems funny because as the unemployment numbers dropped dramatically during Obama's second term, Trump insisted the numbers were fake. And now, ironically he runs to do a press conference to celebrate fake unemployment numbers on his watch.

And while unemployment rate did drop some over the past month, the rate for black people actually increased.

Unemployment over the next few months is almost certain to be volatile. As businesses reopen, people who were furloughed or otherwise encouraged to go on unemployment temporarily will be coming back to jobs that were not lost but just unable to be worked. It's not a great indicator of what's going on, though it helps consumer confidence to hear this so there are secondary benefits to people seeing positive movement.

in my opinion, the numbers that will be most telling are related to sales tax revenue lost during the last few months and how those pick up as reopening occurs. If the municipal sales tax receipts remain low, it means point of sales are low. It also has real, broad, direct and systemic impacts on the economy. Whether or not we are in for a long, slow, and difficult recovery or more of a v-shaped one is likely in those numbers.

Personally, I hope the economy does well and don't care if Trump has a big positive there in November. I hope he does. For all the bad that is Trump, the economic wellbeing of the country is much more important to people's lives to hope he has a black eye from bad economic conditions. But I also want to believe that enough Americans have seen things for what they are and will go to the polls in November recognizing him as a real threat to democracy including the economic wellbeing of the nation, and that he did things that hurt us, caused the problems to be worse than they needed to be, and didn't directly help the recovery, either. Maybe not. And I also expect that a Biden win will result in the markets dropping. If the Democrats take the Senate there is a very good probability there will be an overnight sell off. The markets aren't reflecting the actual long term health of the economy but most people won't realize that the sell off will be due to speculators and those profiting off of decreased regulation realizing the tide has turned to other more holistic priorities. The surge under Trump wasn't due to investors betting on the long term wellbeing of other Americans. They were making hay while the kleptocratic sun was shining.

honorentheos wrote: ↑

Sun Jun 07, 2020 5:43 pm

But I also want to believe that enough Americans have seen things for what they are and will go to the polls in November recognizing him as a real threat to democracy including the economic wellbeing of the nation, and that he did things that hurt us, caused the problems to be worse than they needed to be, and didn't directly help the recovery, either.

If the unemployment rate drops below 7% then I don't see how Biden would win. But the unemployment rate won't drop below 10% before November. An economist "projected that unemployment likely will level off around 10%", under the assumption that there won't be a second wave of Coronavirus. I am convinced Biden will win in November.
https://www.cnbc.com/2020/06/03/the-cov ... eared.html

Icarus wrote: ↑

Sun Jun 07, 2020 2:30 pm

Well, actually it is 16.3%, after they realized they did the accounting wrong.

Seems funny because as the unemployment numbers dropped dramatically during Obama's second term, Trump insisted the numbers were fake. And now, ironically he runs to do a press conference to celebrate fake unemployment numbers on his watch.

And while unemployment rate did drop some over the past month, the rate for black people actually increased.

hard to fill out a job application when ye be lootin' !

subgenius wrote: ↑

Sun Jun 07, 2020 10:04 pm

hard to fill out a job application when ye be lootin' !

Use your phone. Everything’s online now. Show some initiative.

: D

subgenius wrote: ↑

Sun Jun 07, 2020 10:04 pm

Icarus wrote: ↑

Sun Jun 07, 2020 2:30 pm

Well, actually it is 16.3%, after they realized they did the accounting wrong.

Seems funny because as the unemployment numbers dropped dramatically during Obama's second term, Trump insisted the numbers were fake. And now, ironically he runs to do a press conference to celebrate fake unemployment numbers on his watch.

And while unemployment rate did drop some over the past month, the rate for black people actually increased.

hard to fill out a job application when ye be lootin' !

This is the 21st century. Applications are filled out online.

subgenius wrote: ↑

Sun Jun 07, 2020 10:04 pm

Icarus wrote: ↑

Sun Jun 07, 2020 2:30 pm

Well, actually it is 16.3%, after they realized they did the accounting wrong.

Seems funny because as the unemployment numbers dropped dramatically during Obama's second term, Trump insisted the numbers were fake. And now, ironically he runs to do a press conference to celebrate fake unemployment numbers on his watch.

And while unemployment rate did drop some over the past month, the rate for black people actually increased.

hard to fill out a job application when ye be lootin' !

Another stupid right-wing trope. The nation is facing a public health emergency that isn't going anywhere soon that caused an economic crisis likely to have repercussions that last well into next year and beyond. Those are real issues that the President fumbled badly. He made that fumble an inevitably by gutting the agencies and purging the expertise that had been in place to plan for and manage these kinds of crises. He urged recklessness in markets putting profit over long term economic health. He publicly dismissed the seriousness of both in ways that had consequences.

So when the nation faces yet another crisis on top of the ones already playing out the right-wing playbook is to double down on calling people criminals and justifying their further mistreatment.

Icarus wrote: ↑

Sun Jun 07, 2020 2:30 pm

Seems funny because as the unemployment numbers dropped dramatically during Obama's second term, Trump insisted the numbers were fake. And now, ironically he runs to do a press conference to celebrate fake unemployment numbers on his watch.

There's nothing ironic about that. It's the GOP's modus operandi. Trump is pure projection, and so is the GOP. If they say anything critical, it's essentially proof they're guilty of it.

Any GOP criticism is a confession.