Posted on 08/07/2020 6:52:59 AM PDT by C19fan
Edited on 08/07/2020 6:57:17 AM PDT by Admin Moderator. [history]
Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In July, notable job gains occurred in leisure and hospitality, government, retail trade, professional and business services, other services, and health care.
This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.
Household Survey Data
In July, the unemployment rate declined by 0.9 percentage point to 10.2 percent, and the number of unemployed persons fell by 1.4 million to 16.3 million. Despite declines over the past 3 months, these measures are up by 6.7 percentage points and 10.6 million, respectively, since February. (See table A-1. For more information about how the household survey and its measures were affected by the coronavirus pandemic, see the box note at the end of this news release.)
Sounds good.
Unemployment GOING DOWN.
Job Growth GOING UP.
Let enhanced UNEMPLOYMENT sit for a little longer. Maybe we will have more Job growth.
This may be the fastest recovery we’ve ever seen. With the much needed changes to correct the trade imbalances, though, it will be a wonder that will depend on our toughness and endurance as conservative voters and campaigners.
New Career Opportunities Await in Post-Virus Economy
https://www.cincinnati.com/story/opinion/2020/08/01/opinion-new-career-opportunities-await-post-virus-economy/5559235002/
https://findsomethingnew.org/about/
(see the list of supporters along with Walmart, IBM, Home Depot, Apple and others, including The White House pledge to America’s Workers!)
In light of that and the epidemic, we are winning on balance, thanks to the dedication of our President and his people. It would be far worse, if Democrats had the Senate and the office of The President.
We dropped the ball in the midterms by allowing Democrats to take the House. Accounting for the difficult current circumstances, we are winning. If we surge to support President Trump in every way, we’ll be winning in every way next year.
If we cave now, our most important employers will drop the ball to our demise for sure at the end of this year (market crashes). Are we tired of winning, or will we show positive attitudes and get to work during the next two months and three weeks?
The shutdown was a big effin mistake. We should have never done it.
More people will die from the cure than the disease.
Ergo, it must be really great news.
We were told the last 2 weeks that the economy shrank 1/3 since Valentine’s Day. Guess the economy wasn’t listening to the reporters.
You do realize that 32% drop in GDP was an ANNUALIZED figure right? Real GDP was only off 8% in that same quarter. Get it?
The countries that did the best against the disease only had very brief shutdowns very early on in densely populated cities for locating cases—not the late, extended shutdowns seen in some of the more left-leaning states here. And in those countries, people tend to avoid talking to strangers in public and to wear masks during epidemics without complaining (even flus). Manufacturing production is valued in those countries, and they each protect and support productivity as national a national necessity.
As for the “service industry,” we can’t continue being the world’s tourist trap without sustainable revenues from much more manufacturing on U.S. soil (as differentiated from U.S.-”based” manufacturing). And our government is too big at every level, with revenue-sucking government jobs being too much of the support for services. The debts from balance of payments deficits in unbalanced foreign trade are catching up with us.
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