donsurber.blogspot.com Unemployment fell from 7.9% to 6.9% in October
Lost in all the media manipulation of the election was a huge story. President Donald John Trump once again set an economic record that the press has largely ignored. In just 6 months, President Trump cut the unemployment rate by more than half.
Covid 19 pushed the unemployment rate from a 50-year low of 3.5% in February to an 80-year high of 14.7% in just 2 months.
A recovery that the experts said would take years or even a decade has taken just 6 months.
CNBC reported, "The unemployment rate fell to 6.9% in October from 7.9% in September. It was the sixth consecutive month of improvement.
"However, around a third of the unemployed have been out of work for at least six months. That ratio has been increasing rapidly.
"Long-term unemployment is a dangerous financial period for households."
Well of course long-term unemployment remains high and that is bad for people.
But corporate America, the media, and anti-Trump governors such as RINO Mike DeWine in Ohio shut down the economy for no good reason. Instead of quarantining the ill, they quarantined everyone. It was a multi-trillion-dollar catastrophe manufactured with one goal in mind.
Millions of small businesses are gone. Main Street is devastated.
However, jobs are coming back thanks to the economic policies of one Donald Trump. The Art of the Comeback led us out of darkness.
The spin from NPR was "U.S. employers added 638,000 jobs last month as the economy continued its slow recovery from the corona virus recession. Job growth slowed for the fourth month in a row."
Slow? It took Obama nearly 5 years to get the unemployment from the 7.8% he inherited to 6.9% (January 2009 to November 2012). Slowest recovery ever.
It took The Donald one month to go from 7.9% to 6.9%.
President Trump had the quickest recovery ever.
Nevertheless, NPR spun it, "Unemployment fell to 6.9%, from 7.9% in September, even as more than 700,000 people entered the labor force. Women rejoined the workforce at nearly twice the rate of men, partially reversing a female exodus in September.
"The unemployment rate has fallen sharply from its peak of 14.7% in April. But the economy has still recovered just 54% of the 22 million jobs that were lost during the spring, when businesses abruptly shut down in a desperate effort to slow the spread of the pandemic."
A 54% drop in unemployment in just 6 months is a miracle.
The media won't tell you that. Instead it acts as if President Trump is to blame for Democrat and RINO failures.
Typical.
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