Is the economy back?

[Stranger in a strange land]

What a moronic question

Why? That Jobs Report was very unexpected. It’s undoubtedly good for America, but I also worry it could boost Trump. He’s totally going to take credit for it.

13% unemployment does not mean the economy is back. You're a nasty concern troll.

Wrong! Unemployment was at 16+ % last Month. Now it's 13 %.

I can guarantee you if this Rate keeps going it will be below or slightly above 7 % and Obama won with 7.1 or 7.3 I think.

I don't want a Slow Economic Recovery like we had under Obama. It took him 5 1/2 years to get the UE from 10+ back under 6 %. And that's all because of the crappy Regulations Congressional Democrats passed with Dodd-Frank, etc.
I want no more Regulations at all in America for Small Businesses.

The chocolate ration has been increased to 15 grams!

[I spent the winter writing songs about getting better]

No, a dead cat bounce does not mean that. Geez.

[Hammy]

Trump's going to overplay his hand with this like Bush did with Iraq. Declaring victory after a few weeks or months is not going to end well.

[American2020]

https://twitter.com/CNNPolitics/status/1268960310884478976

[YE]

https://twitter.com/jedkolko/status/1268923385280512003?s=21

[Suburbia]

No, the economy is not back

[LimoLiberal]

Nope. I'm still unemployed. I do think Trump, with the help of the media, will make a concerted effort to portray any upward-trending economic data as evidence of a "Great Comeback for America" (and Trump).

[NHI]

No, it's not.

[McGarnagle]

Hmmm...

Unemployment 3.6% in January

Unemployment 13.3% now

I'm gonna say no.

[KaiserDave]

Out of all the possible takes

The "economy is back" is not one of them

[SN2903]

It's def possible if the virus doesn't come back in a big way but it is too early to tell if it is V shaped.

This is very good news for the country and for Trump though.  I expect a 2-3% bump in the polls next week at least.

[VPH]

It's going to be a roller coaster recovery. When the second wave hits, there's going to be another dip. Our hope is to find a treatment or vaccine soon and carefully open up with proper testing, contact tracing, and isolation of vulnerable populations in the meantime.

[SN2903]

It's going to be a roller coaster recovery. When the second wave hits, there's going to be another dip. Our hope is to find a treatment or vaccine soon and carefully open up with proper testing, contact tracing, and isolation of vulnerable populations in the meantime.

There's been no evidence that a 2nd wave will happen. The virus is much weaker now in Italy and many are predicting it dies out like SARS.

[Beefalow and the Consumer]

Ah, I was wondering why Trump ticked up in the betting markets :smh:

[Beefalow and the Consumer]

Well no it's not back yet, but if this continues it will be in the fall barring a second wave of course. However, the Dow Jones seems to be making a v-shaped recovery.

The Dow is not the economy.

[Alben Barkley]

No. It’s bizarre people would think “drop from 15 to 13” means it’s “back” when those numbers are still historically atrocious. Yes, it’s good it didn’t rise as some expected. But we know why — small bounce as places re-open and some people who were temporarily laid off get their jobs back. But as people have pointed out, black unemployment and permanent unemployment is still going up. The former makes Trump’s ridiculous comments about George Floyd smiling down on the economy particularly stupid.

[Arizona Iced Tea]

The thing is that most economic experts predicted that the unemployment rate would go up in May. However, the opposite happened. This could be signs of a faster recovery than expected.

[Beefalow and the Consumer]

No. It’s bizarre people would think “drop from 15 to 13” means it’s “back” when those numbers are still historically atrocious. Yes, it’s good it didn’t rise as some expected. But we know why — small bounce as places re-open and some people who were temporarily laid off get their jobs back. But as people have pointed out, black unemployment and permanent unemployment is still going up. The former makes Trump’s ridiculous comments about George Floyd smiling down on the economy particularly stupid.

I don't want to sound like a broken record here, but the damage has already been done. It's not like the Dow tumbling 20% and then returning and all is fine. You don't just forget that you or a household member or a friend lost their job. Not in six months.

[BudgieForce]

The thing is that most economic experts predicted that the unemployment rate would go up in May. However, the opposite happened. This could be signs of a faster recovery than expected.

Economic experts also underestimated unemployment numbers in both March and April by sizable margins. I think they may have over corrected in May.

[ProgressiveModerate]

Well no it's not back yet, but if this continues it will be in the fall barring a second wave of course. However, the Dow Jones seems to be making a v-shaped recovery.

Most people don't own much if any sock in the stock market. The stock market is just the percieved valeu of money by sme wealthy folks

[Pericles]

The problem for Trump is that nothing he can do can bring back to life the 100,000 people and counting who died of Covid-19.

[Amenhotep Bakari-Sellers]

The economy maybe back but not there needs to be reform in legislation aside from jobs like campaign finance reform and minimum wage and immigration reform and entitlement reform. Trump hasn't passed one new program since his Obamacare repeal and tax cuts for the wealthy; consequently, that's why Trump will still lose, and his polls will still he 44 percent on Election day

[OSR stands with Israel]

What a moronic question

Why? That Jobs Report was very unexpected. It’s undoubtedly good for America, but I also worry it could boost Trump. He’s totally going to take credit for it.

13% unemployment does not mean the economy is back. You're a nasty concern troll.

Wrong! Unemployment was at 16+ % last Month. Now it's 13 %.

I can guarantee you if this Rate keeps going it will be below or slightly above 7 % and Obama won with 7.1 or 7.3 I think.

I don't want a Slow Economic Recovery like we had under Obama. It took him 5 1/2 years to get the UE from 10+ back under 6 %. And that's all because of the crappy Regulations Congressional Democrats passed with Dodd-Frank, etc.
I want no more Regulations at all in America for Small Businesses.

You can't compare Obama to Trump, though.  Both campaigns and candidates are completely different.  It's not as though "once Trump hits 7% unemployment, he will automatically be re-elected."

And Obama ran a far more disciplined campaign than Trump has which allowed him to paint Romney in the exact worst way Romney could be painted in a each of a swing state.


- In the Midwest and in PA : Obama hit over and over the message that Romney is nothing more than an elitist who will outsource everyone's job and would let the Auto industry die just so rich people can get more money

In CO and NV: Obama made Romney seem anti immigrant

in FL: Obama made it seem like if Romney would win he would cut entitlements(Picking Paul Ryan 100% played into this as well)

in VA: Obama made it seem like Romney is super right wing on social issues and played the "War on Women" card on Romney.


He also played along with this Romney= George W Bush card and given that Bush's approvals were far lower than Obama's when both of them left office it worked far better than Biden=Obama card will work.


Also Romney again didnt help himself and played into the steryotpyes  with things like the "Let Detriot go Bankrupt"(which was more of a restructuring then an actual bankruptcy if you read what he meant) , picking Paul Ryan as his running mate and  in general just made gafffes that made himself to look like an elitist in general.

Now was the campaign Obama ran against Romney a pretty dirty one , yes it was but it was disciplined and Romney did a terrible job countering the attacks.Biden's gaffes in many ways makes him seem less elitist so they dont hurt like the way Romney's did.


That is not to say the result of the 2012 election was good either as it is my least favorite presidential election result since at least WW2 by far

[Ogre Mage]

The economic outlook is not improving for Asians:

Asian Americans also did not benefit from the overall falling unemployment — the unemployment rate for that community increased slightly, 0.5 percentage points from April to May, coming in at 15 percent. Instead, the gains were driven largely by white workers, whose unemployment rate fell from 14.9 percent in April to 12.4 percent in May. The unemployment rate for Latinx workers fell slightly to 17.6 percent, down from 18.9 percent in April.

https://www.vox.com/policy-and-politics/2020/6/6/21282611/black-workers-left-behind-unemployment

Given that Asian Americans had some of the lowest unemployment rates before the coronavirus pandemic hit, I think some of this is due to coronavirus racism which has been directed at Asian Americans since this crisis began.

[Ferguson97]

The economic outlook is not improving for Asians:

Asian Americans also did not benefit from the overall falling unemployment — the unemployment rate for that community increased slightly, 0.5 percentage points from April to May, coming in at 15 percent. Instead, the gains were driven largely by white workers, whose unemployment rate fell from 14.9 percent in April to 12.4 percent in May. The unemployment rate for Latinx workers fell slightly to 17.6 percent, down from 18.9 percent in April.

https://www.vox.com/policy-and-politics/2020/6/6/21282611/black-workers-left-behind-unemployment

Given that Asian Americans had some of the lowest unemployment rates before the coronavirus pandemic hit, I think some of this is due to coronavirus racism which has been directed at Asian Americans since this crisis began.

How would that be reflected with unemployment though? Asian-owned stores forced to shut down because racists don't shop there?