First of all?
I don’t trust much of ANYTHING from the Trump labor Dept.
They have been telling its the Economy is doing Great just like Donald Trump says….
THAT IS what I have problems with….
I just came from shopping with my wife…
The Target we were in had empty shelves…
I don’t know if the company is cutting back to save money….
Is some of the stuff missing from China and has stopped coming?
There in the virus thing?
People in some places ain’t going to work….
Some of them will get paid to stay home?
Whole schools are being closed…
That means somebody HAS to stay home from work to watch the kids…
And travel is slowing….
The stock market IS in a freewill…
There are people losing tens of thousands of dollars and equity daily…
“JOBS, JOBS, JOBS!!!” President Trump wrote on Twitter.
Every jobs report looks backward, but February’s report captures a particularly unusual moment, before the market was grippedwith anxiety about the global impact of a widening epidemic.
“There is a red line in the calendar,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics. “The value of it is that this report gives us kind of a benchmark of where we were before things began to go wrong.”
The government’s estimate of payroll increases is based on surveys of companies completed by the middle of the month, when the prevailing sentiment was that the United States would remain relatively unaffected.
A clearer picture of the impact from disrupted supply chains and travel, entertainment and dining plans should emerge over the next couple of months.
There were scattered reports this week about a potential downturn in employment particularly in the most vulnerable sectors: transportation, hospitality, entertainment and travel.
Airlines are clearly feeling the squeeze. This week, United Airlines announced that it was imposing a hiring freeze through June, postponing scheduled merit raises and inviting employees to apply for unpaid leave.
The number of canceled or postponed conferences is racking up, which hurts not only hotels and convention centers but also restaurants and stores that cater to those visitors.
“Layoffs are here,” a respondent in the transportation equipment sector said when surveyed by the Institute for Supply Management for its monthly manufacturing report…..
Here’s how President Trump tried to reassure Americans about the state of the economy during a Fox News town hall event:
Well, look, we were set to hit 30,000 on the Dow. This is a number that nobody even came close to. And already we have the number. And even though it’s down 10 or 11 percent, it’s still the highest it’s ever been, by far. It certainly might have an impact. At the same time, I have to say, people are now staying in the United States, spending their money in the U.S. — and I like that. People are now staying in the United States, spending their money in the U.S., and I like that. I’ve been after that for a long time.
Jonathan Chait: “This string of sentences is like an onion of stupidity, and peeling back each layer revealed even more stupidity lying beneath.”