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jcitybone

https://www.washingtonpost.com/business/2020/12/04/november-2020-jobs-report-unemployment/?utm_source=reddit.com

The U.S. economy added 245,000 jobs in November— the slowest month of growth by far since the recovery began in the spring and a warning in the months ahead as infections surge to new heights across the country.

The report comes during what economists and policymakers say is a perilous moment for the economy. The generous aid programs that helped prop up businesses and households during the worst of the pandemic have long expired, and the House, Senate and the White House have spent months in disagreement in negotiations over further action.

Unemployment benefits for an estimated 12 million people will expire at the end of the year, due to deadlines set by legislators in March. And the virus’ surge has begun touching off a new round of closures and restrictions, as the caseload surges to new heights across a broader swath of the country than before.

“There’s increasing evidence it [the recovery] is a K,” David Berson, the chief economist at Nationwide Insurance. “We had the big drop and for much of the country who are on the up part of the K, things are pretty good. Good job growth, good income growth, low interest rates. But the down part of the K, a substantial portion of the population is hurting significantly.”

jcitybone

With mass layoffs persisting at an unprecedented clip, coronavirus deaths surging, and hunger on the rise nationwide, a group of House Republicans on Thursday attempted to pass a motion to adjourn the chamber in what Democratic lawmakers denounced as an “outrageous” stunt by members of a party that continues to stand in the way of desperately needed economic relief.

Though the motion, introduced by House Freedom Caucus Chair Rep. Andy Biggs (R-Ariz.), was ultimately defeated by the Democrat-controlled House, the attempt to adjourn was viewed as another telling example of the GOP’s refusal to take seriously the coronavirus pandemic and resulting economic crisis.

Jeremy Funk, spokesperson for government watchdog group Accountable.US, slammed McConnell for “shilling for special interests” instead of offering real relief to the tens of millions of Americans struggling to afford basic necessities and possibly facing eviction in the near future.

“The McConnell Senate enabled the Trump administration’s mismanagement of the health crisis and still insists on doing as little as possible to contain the economic fallout,” said Funk. “McConnell’s big idea of giving corporations permission to mistreat workers with impunity during a pandemic and giving more handouts to coal CEOs means absolutely nothing to the millions of families who face hunger and homelessness in the Trump recession.”

orlbucfan

Until these FRightwingnut yahoos face SERIOUS accountability (getting their worthless greedball azzes kicked out of office would be a nice start), nothing will change. The worst to come is staring us in the face. 😡

polarbear4

you are right, orl, it’s very weird how they have so little regard for their own base, even. and like it or not, a lot of the truest believers have health issues.

wi62

God will heal them. They’ll tell ya so

jcitybone

orlbucfan

Marco white collar robber Rubio. End of comment.🤮🤮🤬

Benny

No, it is a different in approach. Rubio does the donors pay for. AOC doesn’t dial for dollars, so she organizes instead.

polarbear4

i don’t know, but i think orl was only talking about rubio, not comparing to aoc?

Benny

I was making the contrast.

Torabs
Torabs

Sad to see the open disrespect Ocasio-Cortez has to deal with from these swine. Are there no women in their lives with the sense to slap them after reading this garbage?

jcitybone

https://www.reuters.com/article/us-usa-election-georgia-ads/u-s-bank-lobby-spends-1-million-on-ad-blitz-for-republican-perdue-in-georgia-u-s-senate-runoff-idUSKBN28E1DD?utm_source=reddit.com

The largest U.S. bank lobby group is spending $1 million on television ads to boost Republican Senator David Perdue, in a bid to ensure the Senate remains in Republican hands after Georgia runoffs in January, according to federal filings.

Perdue, who sits on the Senate Banking Committee and has long been an industry ally, is seeking re-election against Democratic challenger Jon Ossoff.

The large expenditure underscores industry worries that Democratic control of the Senate could lead to tougher banking policies, as well as clear the way for Democratic President-elect Joe Biden to nominate hard-charging regulators.

jcitybone

From Meteor Blades. The official unemployment rate is especially worthless in these times.

https://www.dailykos.com/stories/2020/12/4/1999534/-Government-s-monthly-jobs-report-shows-economic-recovery-slowing-sharply

In yet another indication that the recovery from the Pandemic Recession has dramatically slowed, the Bureau of Labor Statistics reported Friday that nonfarm employment rose by a mere 245,000 jobs in November. There were 344,000 gained in the private sector, but in all levels of the public sector 99,000 jobs were lost. The headline unemployment rate fell to 6.7%, but that was mostly a product of 400,000 people leaving the labor force. An alternative measure that gauges both unemployment and underemployment fell 0.1 to 12.0%.

In the pre-pandemic Before Times, those results would fit well within the range of monthly job gains during the past five or so years. In November 2019, for example, the economy created 256,000 new jobs. But now, with 9.8 million more Americans out of work than was the case in February before the coronavirus started its killing spree, the November gain in jobs shows the recovery’s weakness. At the current rate of growth, it would take years to get back where we were just 10 months ago. And while some companies are obviously adding workers, company after company after company is laying off thousands of workers or contemplating doing so.

One impact of the Pandemic Recession has been a drop in the labor force, which now has some 4.1 million fewer people than it did in February. Prominent among the drop-outs out are women and older workers pushed reluctantly into early retirement. But at least some of those who are counted as having left the labor force really haven’t. The bureau puts any jobless person who has not looked for work in the past four weeks as being out of the labor force. Under our current circumstances, where looking for a job is more difficult than usual, that definition distorts reality.

The bureau also reported:

In November, the number of persons not in the labor force who currently want a job increased by 448,000 to 7.1 million; this measure is 2.2 million higher than in February. These individuals were not counted as unemployed because they were not actively looking for work during the last 4 weeks or were unavailable to take a job. […]

About 3.9 million persons not in the labor force in November were prevented from looking for work due to the pandemic. This measure is up from 3.6 million in October.

polarbear4

for a long time. all these rates, including poverty, have been way too low as long as i’ve been involved in jobs that involved helping people who need government help–starting, off and on, in the mid-seventies.

jcitybone

https://www.thenation.com/article/politics/trump-coup-dictatorship-fascism/

What horrifies me isn’t simply that the cranks and sycophants surrounding Trump have dived into this moral cesspit. Rather, it’s that much of the broader GOP, especially at the federal level, has remained silent in the face of this escalating assault on the democracy. It is the reductio ad absurdum, the inane and insane end point of four years of the GOP’s collusion with Trump’s full-frontal assault on the institutions and culture of democracy.

Trump’s fascist yammering, and the GOP Senate’s collaborationist behavior, isn’t just a footnote to the 2020 election campaign. Rather, it’s a prologue to what could come next. Even while Republican state officials have pushed to protect the integrity of their election systems, at a federal level their fellow party members have happily left them to the tender mercies of Trump and his army of trolls.

The GOP as an institution has entirely abandoned its commitment to the democratic process. In tolerating Trump’s dangerous nonsense and his increasingly frantic efforts to overturn the election, it has embraced the dangerous notion that any outcome that doesn’t result in its holding power in perpetuity is illegitimate. That’s a hell of a Signal—a Thousand Year Reich–kind of signal—to send the country and the world. And it’s a hell of a warning shot as to how the Grand Old Party intends to conduct itself in the months and years ahead.

polarbear4

silver lining–they will shrink and shrink. worst case, they will have some kind of fail uprising and shrink further.

orlbucfan

T and R, LD and JD!! 🎄☮️😊👍