The Truth About the New Jobs Report
...Trump was quick to leap on the Labor Department’s employment report for July, which was released on Friday morning. “Great Jobs Numbers!” the President blared on Twitter. The White House press secretary, Kayleigh McEnany, fired out an exclamation point of her own, declaring, “President @realDonaldTrump is the JOBS president!”
]]]The actual contents of the employment report present a very different picture.
They show that, as the coronavirus pandemic has spread across the country this summer, job growth has slowed sharply. In July, non-farm payrolls rose by 1.8 million, compared to increases of 2.7 million in May and 4.8 million in June. In more normal times, these monthly figures would be off the charts, but they pale in comparison to the loss of 22.1 million jobs in March and April, when stay-at-home orders were issued in many areas. Taking the past six months as a whole, 12.8 million Americans have lost their jobs, a drop for which there is no precedent in the employment records, which go back to 1939.more...