A little bit of alright news….
But some state’s are closing some social things back down….
And?
Local and State Government’s are working own budgets for next year that will have cuts and maybe furloughs and lay-offs….
This is NOT gonna be a ‘V’ shaped recovery….
Donald Trump maybe getting better marks then Joe Biden on the economy, But?
I do NOT see why….
The economy added 4.8 million jobs last month, based on a survey taken mid-month, sending the unemployment rate down to 11.1 percent — a sign of how many businesses were scrambling to emerge from the depths of the recession.
The stock market rose sharply on the news, with the Dow Jones industrial average up around 400 points, or 1.5 percent.
But new data also released Thursday by the Labor Department showed that 1.4 million people filed unemployment claims for the first time last week as many businesses reversed themselves and closed again during the surge in coronavirus cases. This trend has not fallen off in recent weeks.
This marked the 15th straight week of unemployment claims that exceeded 1 million, a sign that the economic recovery has not taken hold for many Americans.
At a press conference held shortly after the data was released, President Trump said the numbers showed that the economy was “roaring back, coming back extremely strong.”…
President Trump touted the new June jobs numbers at a hastily scheduled press briefing Thursday where he left before taking any questions.
“Today’s announcement proves that our economy is roaring back, it’s coming back extremely strong,” Trump said, about an hour after the federal jobs report was released showing that the U.S. economy added 4.8 million jobs during the month of June, a record single-month gain.
Thursday’s jobs report showed unemployment dropped to 11.1 percent, a significant figure but down markedly from nearly 15 percent in April. Millions of Americans still remain out of work amid the coronavirus pandemic.
It’s also unclear how robust the economic recovery will be as the number of coronavirus cases rises across the country….
Note….
The last Labor Dept. numbers where full off mistakes….
It IS Donald Trump’s Labor Dept……..
As long as the coronavirus is hanging around and is continuing to spike in various areas the economic recovery will rise and fall at an uneven pace.
Unemployment will likely jump around but remain mostly or near double digits to at least the end of the year.