What recession? July job’s report destroys expectations

[Hindsight was 2020]

https://mobile.twitter.com/WSJ/status/1555533862666649600
https://mobile.twitter.com/NumbersMuncher/status/1555531915641425925

[Zache]

This week might legitimately be the best week of Biden's presidency.

[wbrocks67]

I'm sure this will not stop pundits and members of the press though from continuing to wishcast a recession into fruition.

There is certainly a complex economic situation going on right now (which is expected after a global pandemic), but it certainly does not seem like a recession.

[Sir Mohamed]

[Beet]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

[Tartarus Sauce]

Joseph Jobinette Biden Jr.

[Sir Mohamed]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

And you can also insert "deficit explodes" and "deficit decreases".

[Lief 🗽]

President Biden has now restored all jobs destroyed under Trump.

[Lief 🗽]

Coping and seething on Fox News, they are so mad that President Biden has put so many Americans back to work!

[OSR stands with Israel]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

Yah cause of strict Covid restrictions pushed by blue states while red states has far lower unemployment as they lifted them earlier .

So again this is extremely misleading  and you have to be an absolute hack to blame Trump for the increased  unemployment rate , unless of course you think he should have banned states from locking down in 2020

[7,052,770]

I've always wondered what it was like for Americans living in 1789-97, 1861-65, and 1933-45 to have such an amazing, legendary president, to know that the absolute best humanity has to offer was leading the country through a time of turmoil, and now we all know. It is such a privilege to live in a country led by such a great and successful man.

[Cassandra]

I've always wondered what it was like for Americans living in 1789-97, 1861-65, and 1933-45 to have such an amazing, legendary president, to know that the absolute best humanity has to offer was leading the country through a time of turmoil, and now we all know. It is such a privilege to live in a country led by such a great and successful man.

Has irony gone too far?

[Fmr. Pres. Duke]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

Yah cause of strict Covid restrictions pushed by blue states while red states has far lower unemployment as they lifted them earlier .

So again this is extremely misleading  and you have to be an absolute hack to blame Trump for the increased  unemployment rate , unless of course you think he should have banned states from locking down in 2020

The President is always blamed for whatever happens in the job market. That is not new. You can also argue that W did not cause the great recession, but he gets the blame for the economic mess. He also took office after a recession had begun in 2000. That's just the way it is. Trump handled Covid disastrously so he can get the blame for that.

We are in an unprecedented economic time where we have labor shortages, tons of job openings, inflation, and negative GDP. I don't remember a time when something like this happened. It's hard to say we are in a recession given the strength of the labor market.

[Darthpi – Anti-Florida Activist]

The fact that the stock market is down on this very welcome news is a good reminder that the priorities of the capitalist class are not the priorities of ordinary people.

[MasterJedi]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

Yah cause of strict Covid restrictions pushed by blue states while red states has far lower unemployment as they lifted them earlier .

So again this is extremely misleading  and you have to be an absolute hack to blame Trump for the increased  unemployment rate , unless of course you think he should have banned states from locking down in 2020

Just like for the first 3 years it was the "Trump economy" when he had nothing to really do with it.

[OSR stands with Israel]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

Yah cause of strict Covid restrictions pushed by blue states while red states has far lower unemployment as they lifted them earlier .

So again this is extremely misleading  and you have to be an absolute hack to blame Trump for the increased  unemployment rate , unless of course you think he should have banned states from locking down in 2020

The President is always blamed for whatever happens in the job market. That is not new. You can also argue that W did not cause the great recession, but he gets the blame for the economic mess. He also took office after a recession had begun in 2000. That's just the way it is. Trump handled Covid disastrously so he can get the blame for that.

We are in an unprecedented economic time where we have labor shortages, tons of job openings, inflation, and negative GDP. I don't remember a time when something like this happened. It's hard to say we are in a recession given the strength of the labor market.

This is not true as Trump overwhelmingly won voters in 2020 who voted on the economy and keep in mind 49% of Americans approved of the economic situation in November 2020 .  You have to keep in mind that unemployment fell rapidly after June and the central debate to the election was whether we should prioritize economic growth or take measures to keep countering COVID .

If democrats ran only on the economy in 2020 they would have lost pretty handily

[OSR stands with Israel]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

Yah cause of strict Covid restrictions pushed by blue states while red states has far lower unemployment as they lifted them earlier .

So again this is extremely misleading  and you have to be an absolute hack to blame Trump for the increased  unemployment rate , unless of course you think he should have banned states from locking down in 2020

Just like for the first 3 years it was the "Trump economy" when he had nothing to really do with it.

Majority of Americans approved Trump’s handling of the economy even in November 2020.

[Badger]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

Yah cause of strict Covid restrictions pushed by blue states while red states has far lower unemployment as they lifted them earlier .

So again this is extremely misleading  and you have to be an absolute hack to blame Trump for the increased  unemployment rate , unless of course you think he should have banned states from locking down in 2020

Just like for the first 3 years it was the "Trump economy" when he had nothing to really do with it.

Majority of Americans approved Trump’s handling of the economy even in November 2020.

News flash. Perception does not equal reality. As previously pointed out, it is difficult to imagine even in the most lurid fiction a more disastrous, almost Criminal handling of covid than the Trump Administration somehow managed. While they're obviously not entirely default for the economic havoc covid caused, their contribution towards accelerating and lengthening that hardship is significant indeed.

[GALeftist]

MY PEOPLE CRY OUT FOR RELIEF FROM THIS ECONOMIC DISASTER, UNPARALLELED SINCE THE DAYS OF HOOVER. WHO CARES ABOUT 10 YEAR OLD ABUSE VICTIMS BEING FORCED TO GIVE BIRTH. WHO CARES THAT EVERYONE HAS A JOB. MY VEGETABLES COST MORE BRANDONNNNNNNNNN

[OSR stands with Israel]

I'm sensing a pattern:

H.W. Bush: Jobs collapse
B. Clinton: Jobs rebound
W. Bush: Jobs collapse
Obama: Jobs rebound
Trump: Jobs collapse
Biden: Jobs rebound

Yah cause of strict Covid restrictions pushed by blue states while red states has far lower unemployment as they lifted them earlier .

So again this is extremely misleading  and you have to be an absolute hack to blame Trump for the increased  unemployment rate , unless of course you think he should have banned states from locking down in 2020

Just like for the first 3 years it was the "Trump economy" when he had nothing to really do with it.

Majority of Americans approved Trump’s handling of the economy even in November 2020.

News flash. Perception does not equal reality. As previously pointed out, it is difficult to imagine even in the most lurid fiction a more disastrous, almost Criminal handling of covid than the Trump Administration somehow managed. While they're obviously not entirely default for the economic havoc covid caused, their contribution towards accelerating and lengthening that hardship is significant indeed.

The US economy was doing far better than Western Europe and Canada in November of 2020 and Red States economy were doing better than blue states then as well .

The fact is there was a clear correlation between how strict your COVID restrictions were and how badly the economy was doing

[Nyvin]

All things considered, the US economy is actually doing really great.  This is especially true when compared to the global economy.

[Waldo]

Suddenly recessions are defined by jobs reports and unemployment rate instead of GDP. Labor force participation rate, though... that's not a thing.

[MR DARK BRANDON]

Wow. Truly the second Great Depression how can we ever recover?

[GeorgiaModerate]

Suddenly recessions are defined by jobs reports and unemployment rate instead of GDP. Labor force participation rate, though... that's not a thing.

But they're NOT defined by GDP, except as an unofficial rule-of-thumb.  Like all such empirical rules, this is not a hard and fast definition, especially in exceptional situations. 

In the U.S., recessions are officially declared by the NBER (National Bureau of Economic Research), which defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.”  The continued strong growth in jobs and extremely low unemployment rate make it clear that the current U.S. economy does not fit the definition of a recession.

[Fmr. Gov. NickG]

More Dark Brandon Energy!!