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^its as if something happened in 2020 that wasn't normal
Three Months of No Jobs Growth, Labor Force Drops to July Level
Down 11 million jobs from pre-Pandemic trend.
Like the overall economy, the job market has split in two.
In January, there were 142.6 million jobs at establishments – at companies, non-profits, and government en ies, not including many gig workers – a level first seen in October 2015,
This was up by 49,000 from December. But in December, the number of jobs had dropped by 227,000. Over the three months since November, establishments shed 178,000 jobs. Over the four months since October, establishments created only 86,000 jobs
Over the past four months, households reported an increase of only 362,000 jobs.
Compared to January last year, the end of the Good Times, establishments shed 9.6 million jobs.
Households reported having lost 9.9 million jobs.
Compared to the pre-Pandemic trend (blue line in the chart above), jobs as reported by households would be down by 11 million.
The number of people who are deemed by survey takers to be in the “labor force” ... y – dropped by 406,000 in January, to 160.16 million people, the lowest since September and roughly back where it had been in July:
the employment-to-population ratio, which is far broader and covers the working-age population (16 years or older), at 57.5% has barely budged over the past four months:
in every recession since 2000 – three of them so far – it has never fully recovered before the next crisis hit. These are the infamous “jobless recoveries” of the modern era, when during each recession, companies vow to bring their costs down, and work is sent overseas:
https://wolfstreet.com/2021/02/05/th...to-july-level/
^its as if something happened in 2020 that wasn't normal
Yep. Your dear leader ed up.
I doubt $15 will happen but I hope they can at least agree to $12 to keep pace with where the minimum wage was 53 freaking years ago.
2009's $7.50 if indexed to inflation would be nearly $9 today, but so buys only $6.16 today.
Last edited by boutons_deux; 02-06-2021 at 01:27 PM.
Republican Tax Bill Passes Senate in 51-48 Vote
Senator Mitch McConnell, the majority leader, and other Senate Republicans after passage of the Republican tax plan on Capitol Hill early Wednesday.
- Dec. 19, 2017
Republicans took a critical step toward notching their first significant legislative victory since assuming full political control, as the House and Senate voted along party lines on Tuesday and into early Wednesday to pass the most sweeping rewrite of the tax code in decades.
The $1.5 trillion tax bill, which is expected to head to President Trump’s desk in the coming days, will have broad effects on the economy,
making deep and lasting cuts to corporate taxesas well as
temporarily lowering individual taxes.gotta Pay For It
https://www.nytimes.com/2017/12/19/u...-congress.html
there was no disaster,
no crisis,
very low unemployment,
no inflation,
just the oligarchy receiving the $Ts they paid the Repug s to give them.
McConnell was not demanding bi-partisanship and Senatorial comity
Good for her?
For the record, I think means testing COVID relief is a terrible idea. The less universal, the more unfair it will be perceived as being.
It was a tough 2020 for everyone, this is a one-time survival check, right?
Politically Biden makes a mistake passing a smaller dole than Trump, economically and epidemiologically his situation is much worse.
Dems are set to unveil an inclusion of a 3k per child benefits to people who qualify tomorrow. Not bad.
is that a "what about" I hear?
What are you on about?
You're getting 1400 on top of a potential 3 thousand per kid. More details coming tomorrow.
nah, I'm out dawg
One Year After the Collapse of the Airline Business Began: What’s the Status Now?
Still collapsed revenues,
astronomical losses,
red-hot cash-burn,
ish new piles of debt.
Meanwhile, amid craziest markets ever, airline shares soared.
https://wolfstreet.com/2021/02/08/it...he-status-now/
Another reason for third stimulus checks: Jobless benefits not reaching 8 million people
- Around 1 in 4 unemployed workers received benefits in the last two weeks, according to an analysis published by Eliza Forsythe, a labor economist the University of Illinois. Around 8 million jobless people aren’t getting aid, she estimates.
- The data suggests a third round of stimulus checks may be the best way to target aid to these workers.
- Democrats voted Tuesday on a budget measure that would let them pass a $1.9 trillion Covid relief package without Republican votes. It contains $1,400 stimulus checks and more unemployment benefits.
https://www.cnbc.com/2021/02/03/jobl...on-people.html
Join us, won't you?
Americans Adamantly Refuse to Cash Stimulus Checks
Unless Republicans Are Onboard
WASHINGTON —A broad majority of Americans adamantly refuse to cash a new round of stimulus checks unless congressional Republicans fully support their issuance, a new poll shows.
According to the poll,
ninety per cent of Americans would forego food, clothing, and shelter
if it means holding out for a relief package that has the support of such G.O.P. lawmakers
as Senator Susan Collins, of Maine.
“Sure, I’d love to avoid being evicted at the end of the month,” one poll respondent said.
“But if that means accepting a stimulus check that has less than bipartisan support, count me out.”
“We’ve been struggling to pay for groceries ever since my husband and I both got laid off last year,” another respondent said. “But
I wouldn’t feel good about buying food for my family if I knew that the money came via the budget-reconciliation process.”
“My eight-year-old son came to me the other day and said,
‘Daddy, I don’t want new shoes unless the money to pay for them comes with Mitch McConnell’s blessing,’ ” another said.
“I don’t think I’ve ever been prouder of that little boy.”
https://www.newyorker.com/humor/borowitz-report/americans-adamantly-refuse-to-cash-stimulus-checks-unless-republicans-are-onboard
that didn't prevent you from blaming Obama for the bad economy in 2008. So, trump worst president for the economy
there are large bipartisan majorities for some of Joe Biden's priorities, like COVID-19 relief; the vote of the US Congress should reflect that.
1.1 million more people file for jobless benefits.
Last week was the 46th of the past 47 weeks in which at least 1 million out-of-work Americans filed initial claims for unemployment benefits.
Specifically, 1.1 million, with 793,000 filing under regular state programs and
335,000 filing under the federal emergency programs created because of the coronavirus pandemic.
That was four times the typical weekly number of people filing initial initial claims in the pre-pandemic Before Times.
The bigger story is the 2.7 million-person surge in continuing claims under the federal Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation,
both designed to provide benefits to people who aren’t covered by state programs (part-timers, gig workers) or who have exhausted their state benefits.
this huge rise “is likely workers who had exhausted their original weeks of eligibility getting back on these programs.
Remember, former President Trump allowed these programs to lapse
There are 25.5 million workers—15.0% of the workforce—who were either unemployed, otherwise out of work because of the virus, or had seen a drop in hours and pay because of the pandemic.
Roughly $2 trillion in relief and recovery is crucial.
https://www.dailykos.com/stories/2015349
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