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Final jobs report before Election Day shows just 661,000 positions were added last month
"Smaller employers are having difficulty holding on and we are now seeing the effect of the big company layoffs,” said one economist.
Over the summer the unemployment rate fell from its lockdown spike of 14.7 percent to 8.4 percent by August, but the pace of gains has drastically slowed, pointing toward a protracted period of fragile recovery that could be further imperiled if infection rates worsen.
It’s a “steady flood of job loss,” said Bill Scribbs, an economist for the AFL-CIO labor union. “The next six months… look pretty bad because what happened in August with people using so much credit is they’re going to be reticent to spend money by Christmas. We won’t have enough jobs back by November.”
How about we rid our country of illegal aliens and that will free up 11 million jobs for Americans?
I thought they were here just to collect welfare benefits They're all working?
I think the Americans who lost their jobs would prefer to have their own jobs back, like airline pilots, as opposed to do landscaping for $5.00 an hour.
I think it WILL happen, but its slowing down. I admit I predicted a 'V' curve recovery, but that did not happen.
the part of the article you chose to quote included:
Quote:
Over the summer the unemployment rate fell from its lockdown spike of 14.7 percent to 8.4 percent by August, but the pace of gains has drastically slowed, pointing toward a protracted period of fragile recovery that could be further imperiled if infection rates worsen.
They could have simply put the number - "declined to 7.9%".
They - rightly - pointed out that the economic recovery depends on Covid. They inferred infection rates might worsen, when infection rate and the more important hospitalization/death rate are on the decline
They could have simply put the number - "declined to 7.9%".
They could have said anything, but the fact is that the expectation was to gain more jobs due to the sudden & massive losses. 11 million Americans are still out of jobs and many are falling off the books.
There were massive lay-offs yesterday, which are not even reflected in these numbers.
I believe all the jobs will eventually come back, but it seems it is happening much slower than expected.
I thought they were here just to collect welfare benefits They're all working?
I think the Americans who lost their jobs would prefer to have their own jobs back, like airline pilots, as opposed to do landscaping for $5.00 an hour.
I think it WILL happen, but its slowing down. I admit I predicted a 'V' curve recovery, but that did not happen.
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They're all working? 