New Job Numbers: Slowed Gains, Unemployment Down, No California Numbers

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Andrew Donaldson

Born and raised in West Virginia, Andrew has since lived and traveled around the world several times over. Though frequently writing about politics out of a sense of duty and love of country, most of the time he would prefer discussions on history, culture, occasionally nerding on aviation, and his amateur foodie tendencies. He can usually be found misspelling/misusing words on Twitter @four4thefire and his writing website Yonderandhome.com

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10 Responses

  1. Avatar Philip H
    Ignored
    says:

    One assumes the layoffs in the airline industry this week are not included in this.

    Its not going to get better any time soon.Report

    • Avatar Swami
      Ignored
      says:

      But it HAS gotten better every month, no?

      Honestly, when the virus first struck I assumed things would be even worse now. The recovery has been unbelievably fast when considering that in all the states I am familiar with there are still strong restrictions against the operation of certain businesses (possibly legitimate).

      To put it in perspective, we still have millions who are prohibited from working, and we still have an unemployment rate that is comparable to some large european countries before the pandemic.

      So far this hasn’t been a classic economic recession, as much as a recession of millions who can’t do their jobs either because Americans refuse to engage in certain services, or government prohibits commerce. (Again, acknowledging that these may be appropriate for circumstances)Report

      • Avatar Philip H
        Ignored
        says:

        well lets see – we haven’t had this high an unemployment rate this close to an election since 1948. While there has been recovery, there are solid estimate that the net permanent job loss is around 4 Million for the country. Many hundreds of thousands if not millions of unemployed Americans are still not receiving basic unemployment, i.e. what they were entitled to before the pandemic broke out. The airlines are expected to lay off 50K Americans by sometime next week because their political buddies on the Hill forgot to renew their own check book when it expired earlier this week. Those things have long term effects, and many of those effects have been punted.

        So while it appears we are less worse off then we were at the beginning, we are not at all well, and probably likely to get worse.Report

        • Avatar Swami
          Ignored
          says:

          “…and probably likely to get worse.”

          Possibly. Again, my point is I thought it would be even worse and I thought recovery would be even slower than it has been. I hope you are wrong, but as they say, predictions are tough.Report

        • Avatar North
          Ignored
          says:

          Winter is coming. Covid seems to spike when people are staying largely indoors (cold winter or hot summer).Report

          • Avatar Marchmaine
            Ignored
            says:

            I’m anticipating a Covid-spike during Flu Season (I hope we’re prepared)… but it’s also clear to me that if we get regular Flu Season+ and no significant spike? Regardless of vaccine status and regardless of ‘science’ quarantine’s over come March 15. And that’s not even contemplating who might be President.Report

            • Avatar North
              Ignored
              says:

              I concur. Frankly as the medical field gets more familiarity with covid and as isolation continues to get harder to sustain I expect strict measures will fail, either as a political or practical matter, by the time the weather turns next year. Unless Covid does something to put the fear in us all the populace is going to be inured by spring 2021.Report

        • Avatar Swami
          Ignored
          says:

          By the way, what unemployment benefits that they qualified for before the pandemic are being withheld? Was there a restriction in unemployment benefits somewhere? Askin’, not arguing.Report

          • Avatar Philip H
            Ignored
            says:

            The first (or second, I can’t remember) COVID Stimulus bill authorized $600 additional per person in unemployment benefits over and above the paltry sums the states normally give. That lasted until the end of july and then reverted to state level only benefits since.

            That aside, the number of initial and sustained claims is keeping most states woefully behind in their provision of benefits. I have a friend in Maryland who went almost 4 months without benefits after application, and another in Wisconsin who went 5 months before seeing benefits.Report

      • Avatar Kolohe
        Ignored
        says:

        There was a graph a I saw on Twitter that showed that unlike every other recent recession, the loss of jobs in services was greater than and preceded a loss in the ‘goods’ sector.

        Which makes sense as most ‘industrial’ processes were going more or less as they were, while stuff like the entire hospitality industry, along with stuff associated with the economy of a central business district was all shut down.

        ( plus, there are more women who have been laid off/ furloughed than men, which I think may be the first time ever for a recession)

        There’s a ton of money being pumped into the economy that probably keeps aggregate demand and thus industrial production up. But I do wonder, and would probably anticipate, that there will be a dip industrial employment as the ‘service economy employed’ part of aggregate demand remains weak, and the money printer no longer goes brrrr.Report

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