Advertisement

Drudge Retort: The Other Side of the News
Thursday, July 02, 2020

The report clearly showed evidence of continued improvement related to the reopening of many parts of the economy following the shutdowns precipitated by the virus. The survey of employers showed payrolls were up by 4.8 million, and the job gains were in industries that were hardest hit by the pandemic, including leisure and hospitality and health services, which includes doctors' and dentists' offices. There is clear evidence that firms are hiring. The unemployment rate declined, for the second month, and the labor force participation rate " the share of adults working or looking for work " rose by seven-tenths of a percentage point. These are all consistent with the economy gradually reopening in the middle of June.

But we shouldn't extrapolate from these trends because some states have scaled back their reopening because of the uptick in coronvavirus cases. The job market was improving in June, but it was still in very rough shape.

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

If you want to cut through the hyper-partisan noise from both sides, this article from Brookings gives a very neutral analysis of what the June jobs report actually shows.

#1 | Posted by leftcoastlawyer at 2020-07-02 04:16 PM | Reply

Poor little leftcoastoecentrelawyer

Can't get any traffic without your sock puppet account(s) smarmy comments

Can someone put a suicide watch on this clown? The DR is the only attention she gets

#2 | Posted by ChiefTutMoses at 2020-07-03 12:13 PM | Reply

There is clear evidence that firms are hiring.

If a person goes back to their old job is it still "hiring"?

If a business reopens but doesn't hire the same people, is it really a "created job"?

As mentioned, surges from reopening are putting a damper on much of this, which is why my primary critique is that we're sort of jumping the gun by celebrating a single data point.

#3 | Posted by jpw at 2020-07-03 11:38 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2020 World Readable

Drudge Retort