The latest jobs report is out—and with 4.8 million jobs added to the
economy last month and unemployment falling to 11.1 percent, it’s far
better than most economists had expected. It’s encouraging news, to be
sure, but joblessness remains higher than at any point during the Great Recession.
Furthermore, the report is a bit stale; the data, collected in
mid-June, doesn’t reflect the recent decisions by governors across the
country to halt reopening plans amid a surge in new coronavirus
cases—moves that will very likely end the rehiring trend seen in the
past two months.
In other words, any hope for a lasting, robust recovery is a distant one.
But desperate for a win—any win—President Trump on Thursday seized on the news to hold a last-minute press conference where he touted the report as “spectacular” and “historic.”
Read more at:
Trump Holds Press Conference to Celebrate Massive Unemployment Rate – Mother Jones
In other words, any hope for a lasting, robust recovery is a distant one.
But desperate for a win—any win—President Trump on Thursday seized on the news to hold a last-minute press conference where he touted the report as “spectacular” and “historic.”
Read more at:
Trump Holds Press Conference to Celebrate Massive Unemployment Rate – Mother Jones
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