Unemployment jumps to highest rate in years as economists fear recession

Bidenomics - the reality  --- The latest jobs report from the U.S. Bureau of Labor Statistics casts a grim light on the Harris-Biden economy, with unemployment blowing past expectations to 4.3% last month, the highest rate since October 2021. This unexpected rise has spurred fears of a looming recession. Economist John Lonski expressed his concerns to Fox Business, stating, "I’m beginning to smell a recession coming into view…this jump by the unemployment rate, my goodness, 4.3%, this is up sharply from not long ago." The report breaks down the troubling statistics further. Over the past 12 months, the employment situation has deteriorated significantly for native-born Americans, with 1.2 million losing their jobs. In contrast, 1.3 million foreign-born workers have found employment during the same period. Additionally, the number of people juggling multiple jobs has surged by 311,000, and 558,000 more Americans are now compelled to work part-time for economic reasons. - https://mxmnews.com/article/083d15b2-fa6f-4beb-8d39-885254631c7d?unemployment-jumps-to-highest-rate-in-years-as-economists-fear-recession

Yeah, people are afraid that Trump will win and carry out his plans to destroy the American economy.

Originally posted by: Kevin Lewis

Yeah, people are afraid that Trump will win and carry out his plans to destroy the American economy.


  brain dead Biden has already destroyed America's economy - President Trump will save the econony and make Americans proud to be an American once again. 

4.3% is still historically low. You can't have it both ways. If you want the inflation rate to come down the unemployment rate goes up.

Edited on Aug 3, 2024 1:49pm

Originally posted by: Mark

4.3% is still historically low. You can't have both ways. If you want the inflation rate to come down the unemployment rate goes up.


  Always an excuse - never the truth.

 

Originally posted by: Mark

4.3% is still historically low. You can't have both ways. If you want the inflation rate to come down the unemployment rate goes up.


Most economists consider 4% to be "full employment," as that percentage of the workforce will always be unemployed due to illness, injury, maternity, etc.

 

Whining about the economy is pretty much all the MAGAs have, now that Harris has put out ads smacking them in the face for their border hypocrisy. However, the economy is booming. Inflation is still relatively high, but wages are increasing to keep pace. The people hurt are those on fixed incomes. The cure is to kill the Trump tax breaks for the rich and put the money into social programs and benefits like the child tax credit.

 

Why don't the inflation whiners point out that the last several years have seen record corporate profits? THAT'S where your money's going, sheeple!

4.3% unemployment !    

 

Leave Britney Alone | 2007 | ACMI collection | ACMI: Your museum of screen  culture

 

Does anyone remember what it was when Trump left office?

 

 

Originally posted by: PJ Stroh

4.3% unemployment !    

 

Leave Britney Alone | 2007 | ACMI collection | ACMI: Your museum of screen  culture

 

Does anyone remember what it was when Trump left office?

 

 


       Does anyone remember what it was before covid ruined the economy? 

Originally posted by: David Miller

       Does anyone remember what it was before covid ruined the economy? 


The Obama economy remained well into the Trump era. Then Trump ruined the economy with his botched response to the pandemic.

Originally posted by: Kevin Lewis

The Obama economy remained well into the Trump era. Then Trump ruined the economy with his botched response to the pandemic.


    Obama economy? Have you ever told the truth?

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