Thursday, October 1, 2020

Two October Surprises The Democrats Can't Do Anything About

"He ought to get on the job and take care of the needs of the American people," he said, referring to Trump.

Biden will have to confront two major economic reports that both will provide very good news about the economic recovery from the pandemic shutdowns, which has been growing faster than economists had projected.

On Friday, the Labor Department will release its September jobs report.

The consensus among economists is that the economy created 850,000 jobs and that unemployment will drop to 8.2% from August's 8.4%. If that forecast holds up, it will mean the economy has created 11.5 million jobs in just five months - regaining more than half of the jobs lost during the shutdown.

During the last recession, the economy shed had 8.7 million jobs when the job market bottomed out in February 2010.

It took more than two years for the economy to regain half those jobs, and more than four years before the job market reached its previous peak.

The Obama/Biden stimulus, in contrast, slowly ploughed the money through government programs and its impact on jobs was so negligible that they had to create a new measure of success: counting jobs "Created or saved."

https://issuesinsights.com/2020/10/01/two-october-surprises-the-democrats-cant-do-anything-about/ 

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