This is true, although Delta I believe has put pressure on hospitality in particular, we will have to see next month.
But I am thinking we will continue to see a trend of depressed employment rates in the short term.
Covid.
The Covid self inflicted woundā¦Trump can run an economy quite well
And what advice from so called experts give?
There will be quite a few folks whose unemployment payments will stop in September.
And I think that the hospitality industry will have to increase wages.
But Delta seems to be the kicker. And if a new variant comes along, things might get worse really fast.
Black unemployment jumped to 8.8 percent, up from 8.2 percent in August. The white unemployment rate went the other way: falling to 4.5 percent from 4.8 percent. As a result, black unemployment is almost twice the white rate.
Tsk, tsk
Nothing progs?
Did you notice that the jobs numbers for June and July were revised UP?! Bidenās economy has created 4,687,000 jobs so far in 2021.
I searched the BLS records all the way back to 1939. There was NEVER a year in which we added 4.6M jobs.
We have added jobs in every month this year. Itās a streak of 8 consecutive months of jobs growth. The last month in which the economy lost jobs was December, 2020.
235,000 jobs is way below what was expected, and that is indeed cause for concern.
On the other hand, we averaged only 202,000 new jobs every month in the last six years of the Obama administration.
We averaged ~180,000 new jobs per month in the first three years of the Trump administration. (Trump promised to be the greatest jobs creator ever, but failed in that regard.)
So even though 235K in August is a slowdown, itās still way above average during the best years of the past two administrations and it is part of a year that is delivering record jobs growth. Iāve got my fingers crossed for a good September report.
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For white people.
Noā¦Biden economy didnāt create new jobs.
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Jbiden canāt spell jobs.
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Oh itās not Bidenās economy now?
Sure. Did he extend the eviction moritorium?
The job numbers are a bit skewed after the unessentials found out they really didnāt matter and were forced to close.
Now we have scary Delta to blame.
Those 2022 mail in ballots wonāt print themselves.
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Preciselyā¦they were forced to shut down.
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Have we recovered all the lost jobs yet from the COVID lockdowns?
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Donāt care.
Stock markets at all time high. In fact, it broke record 50+ times in 2021.
Thatās not even the best part. The best part is a thread from year ago praising Trump for creating jobs after economy reopened. Itās real. It exists.
Snicker snicker
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