Economy roaring back to life under President Biden
https://thehill.com/policy/finance/541749-february-jobs-report-biden-economy-coronavirus
Remarkable considering the amount of covid cases.
share
MovieChat Forums > Politics > Economy roaring back to life under Presi...
When you are laying down, standing up makes you taller.
DUH
Very impressive. Biden's administration is doing a great job.
shareThat's probably why the Texas Governor wants to ruin it.
shareHow does keeping everyone locked down help the economy?
shareBecause opening the country and economy too soon will hurt it more. You know that. You may disagree with if you don't know the argument you have no business opening your pie-hole.
shareLOL
15 to days to slow the spread has turned into a year, wear two or more mask, get 2 vaccines that won't prevent the illness and at the same time kiss your businesses goodbye
I asked you a simple question which you failed to answer instead hurled more juvenile insults because YOU don't know shit and YOU should keep your man pleasers shut
> LOL
Great argument. It's the argument that Conservatives think is the answer to every problem.
Now admit Trump did excellent before the China Virus. Lets ask the Wall Street Journal
https://www.wsj.com/articles/what-happened-to-the-economy-under-trump-before-covid-and-after-11602713077
1. Jobs were better than expected until the crisis began.
The unemployment rate fell from 4.7% shortly after Trump’s election to 3.5% by the end of 2019, below Federal Reserve expectations of about 4.5%. That was partly driven by Trump’s corporate and individual income-tax cuts and a February 2018 bill that reset spending caps Republicans had demanded in the Obama era. When the coronavirus struck, the economic damage from social distancing and states’ shutdowns helped to drive the jobless rate to 14.7% in April this year. The rate fell faster than the Fed expected, reaching 7.9% in September, but the jobs recovery is far from complete. Five million more people were unemployed in September than when Trump took office.
2. The growth rate rose, but not as expected.
Trump’s first budget in 2017 projected that the growth rate under his policies would pick up to 3% by 2020 and stay there. During the expansion under Trump’s predecessor, Barack Obama, gross domestic product grew at an average annual rate of 2.25%. It picked up to a 2.5% rate over Trump’s first three years in office, according to Commerce Department figures. With the onset of the pandemic, growth went haywire as states shut down local economies and then reopened at different paces. A majority of private-sector economists surveyed by The Wall Street Journal this month estimated the gears of the economy wouldn’t be turning fully again until late 2021 or later.
3. Gains for minority workers were reversed.
During Trump’s first three years in office, median household incomes grew, inequality diminished, and the poverty rate among Black people fell below 20% for the first time in post-World War II records. The unemployment rate among Black people went under 6% for the first time in records going back to 1972.
4. Blue collar jobs were hit hard by Covid-19.
Trump’s trade policies, most notably tariffs on imports, were aimed at helping blue-collar towns hurt by competition from China, Mexico and other low-wage countries. After decades of declines, manufacturing employment began a modest rise in 2010 and extended those gains under Trump. But the Covid-19 crisis knocked manufacturing employment back down to levels comparable to the 1940s.
In other words he did nothing, but lie about giving working people a tax break and helping them and just dumped two trillion dollars of tax breaks that everyone else have to pay for on the super-rich. Even if a few working class people got raises that is money that is going to go for paying for the tax cuts to the rich. I hate the mathematically and financially ignorant, but Trump has said more than once, he loves them. Happy valentines Trump chump.
shareTrying to make these arguments about how Trump did so much good is a waste of time.
Anyone who is informed knows it's BS.
He drove half the people out of his own party, and constantly insulted half the country ... over half.
If that is leadership and a great President, well, you know.
Look at you, bringing up Trump in a Biden thread. You are too addicted to Orange Man to let him go. He's living in your head rent free.
shareI saw an article posted on FB that said something along the lines of somewhere around 300K jobs created last month. Some Trumper posts, "i ThOuGhT BIdEn WaS GoInG tO FIx tHe EcOnOmY?! Everyone responding was like, ".......what, LOL?" My man seemed to think jobs are bad.
shareI replied prior to another poster. These are NOT new jobs. These are people *returning* to work after being furloughed. When you get to the point of how many were working before the pandemic, then add more jobs you can say new jobs were added. I don’t understand how people don’t recognize this. When you have a work force who has been vaccinated, the continued use of masks, continuing to social distance, and employers being permitted to reopen, it stands to reason more people are going to be able to return to work.
”We will only have recovered less than 60% of all the jobs lost and it will likely be next year at the earliest that we get them all back, said Dan North, senior economist at Euler Hermes North America.”
https://www.usnews.com/news/economy/articles/2021-03-05/employers-added-a-whopping-379-000-jobs-in-february
The number of Americans on temporary layoff fell by 517,000 to 2.2 million as businesses continued to rehire furloughed workers. About 22% of unemployed workers said they were on temporary layoff, down from 27% the previous month. That means many workers could still be brought back to their old jobs.
The number of people permanently laid off was unchanged at 3.5 million but the figure is 2.2 million above pre-pandemic levels and represents a longer-lasting scar for the economy.
https://www.usatoday.com/story/money/2021/03/05/jobs-near-me-u-s-added-379-000-jobs-february/4584934001/