Posted on 05/10/2020 5:07:47 AM PDT by MarvinStinson
The record unemployment rate reported on Friday captured the pain of a nation where tens of millions of jobs suddenly vanished, devastating the economy and forcing President Trump to overcome historic headwinds to win a second term.
Months ago, Trump planned to campaign for reelection on the back of a robust economy, now a distant memory after more than 20 million jobs were lost in April, leading to an unemployment rate of 14.7%, the highest since the Great Depression.
There's no parallel in U.S. history for the suddenness or severity of the economic collapse. The president is now tasked with convincing voters the catastrophic jobs losses were the result of the pandemic — not his management of the health crisis.
Unemployment reached as high as 25% in 1933 during the Great Depression. A broader calculation of unemployment from April's jobs report suggests the rate might be nearly that high now, as the 14.7% rate doesn't include people who left the labor force or still consider themselves employed despite not working.
“The last time we had unemployment rates in this neighborhood, it took us five years to get there,” said Erica Groshen, economist at Cornell University and former commissioner of the U.S. Bureau of Labor Statistics. “This time, we will have achieved that in two months.”
The president during the onset of Great Depression, Herbert Hoover, was routed in his 1932 reelection bid. If that happens again, the GOP isn't just worried about keeping the White House. Voters who reject Trump may also turn against Republican candidates for Congress.
Joe Biden, the presumptive Democratic presidential nominee, has ramped up intensity of his economic pitch, using an online address to blister Trump for economic “failings that have been present since Day One but are coming into sharp relief in the current crisis.”
(Excerpt) Read more at aol.com ...
Should be OP, Opinionated Press.
Ass.Press is accurately descriptive.
Well it’s true. Trump is not running for reelection against Biden. He’s running against 20% unemployment, a trashed economy, a $6 trillion 2020 deficit, and Covid-19. That’s what he needs to beat, and convince the voters that he can do the better job.
Yah sure. And Biden will do better in his sleep? How about in a demented delusional state? A coma?
In AP’s dreams.
ASSociated Press trying to establish legitimacy for DemocRat mail in ballots China virus fraud in November.
Trust me. This is exactly what is going on.
Only in your dreams!
+1
......”not his management of the health crisis......”
Well the rat party has their marching orders. ...AP as usual, leading the charge. ....hate these people.
Sure, no reasonable American is voting for a man with dementia
As predicted President Trumps approval is trending up
49ras
49 gal
The only question is can his victory help take back the house
Who has business friendly policies that would create jobs? That’s who will win.
Jon, Josh and Billy did another “Orange Man Bad” group project?
And spelled most of their words correctly? Give them Gold Self-Esteem Stars and hot cocoa!
And only sleepy Joe has the energy and enthusiasm to make America great again.
More Fake News, from the masters, AP!
And it took 3 monkeys to write this garbage. It’s only May. By September the unemployment rate will be in single digits and Trump will be on his way to a landslide victory.
Historic unemployment rate upends Trump’s reelection bid
BULLSHIT...in capitals.
100% true. People vote conditions not Party or ideology. Trump needs to point to Blue State governors and make them the center of this argument.
“writers” are not only JONATHAN LEMIRE, JOSH BOAK AND BILL BARROW, but also at bottom:
Associated Press writers Tamara Lush in St. Petersburg, Fla., Marc Levy in Harrisburg, Pa. and Alan Fram in Washington contributed to this report. (at bottom of article)
AP setting up the expected Dem meme, with Biden sounding like a genius!
“Though typically overshadowed by Trump’s megaphone, Biden argues the administration offers a false choice between reopening the economy and limiting the casualties of the coronavirus. The balance, Biden says, is a national plan for testing and tracing.”
getting a finale from a Clinton stooge - great:
“Conventional wisdom would say ‘It’s the economy, stupid,’” said Adrienne Elrod, a Democratic strategist who was senior adviser to Hillary Clinton’s 2016 campaign.
“If good, a president gets reelected. If not, he loses.”
however, Trump is to be blamed for Governors’ lockdowns, and a phony covid scandal dreamt up by two from the left - Neil Ferguson from Imperial College London and Marc Lipsitch of Harvard, while Republicans were also to be blamed for the GFC which re-elected Obama!
“Voters also cast out other recent incumbents who presided over sluggish economies, including Jimmy Carter and George H.W. Bush, while Barack Obama was elected in 2008 after Republicans took the brunt of the blame for the collapse of the financial markets that fall.”
If it was the Washington Compost, it would have taken 4!
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