Trump vs Biden: Jobs

YOU WIN, (whether or not you’ve already lost your job).

A Message from the Chief Babysitting Officer.

You win, because my understanding of larger economic issues is as good as, and as subjective as, yours.  

Vice President, Biden’s economic agenda, as evaluated by Moody’s Analytics, could lead to 7 million more jobs created compared to President Donald Trump's plans, and could result in higher incomes for the middle class.  Then again, Moody analyzed the mortgage market to be nice & rosy right up until the horrible 2008 crash.  

In the beginning of the 4^th year of President Trump’s term, just before the COVID crisis America’s unemployment rate had fallen to a 50-year low of 3.5%, but of course, our Government only counts people who have been: 

(i) actively looking for work in the last 4 weeks or 

(ii) furloughed.  

Adding in millions of us:

(i) in part time jobs who can’t find full work,

(ii) on unpaid leave, and

(ii) who have tried & failed and given up on trying to find a job during the past year,

Pushes the percentage of desperately struggling Americans skyrockets to 30.7% according to the Washington Post and research from the Federal Reserve Bank of Chicago. 

Those are Great Depression numbers!  And if that isn’t depressing enough, how’s this: Axios reports that three-quarters of jobs created since the 2008 crash pay less than $50,000 per year.  

For further reading…

https://www.factcheck.org/2020/07/trumps-numbers-july-2020-update/

https://www.usatoday.com/story/news/factcheck/2020/07/16/fact-check-donald-trumps-job-gains-dont-outperform-other-presidents/5434085002/

https://nymag.com/intelligencer/2020/09/economist-biden-plan-creates-7-million-more-jobs-than-trump.html

https://www.businessinsider.com/joe-biden-economic-plan-jobs-trump-republicans-democrats-moodys-create-2020-9

https://www.cnn.com/2020/09/04/economy/august-jobs-report-trump-jobs-record/index.htm

https://www.bloomberg.com/news/articles/2020-09-29/trump-s-jobs-record-fell-short-of-promises-even-before-the-coronavirus-pandemicl

https://www.washingtonpost.com/opinions/2020/05/16/unemployment-is-so-bad-that-these-economists-are-proposing-new-way-measure-it/

https://www.forbes.com/sites/jeffreydorfman/2015/04/14/the-unemployment-rate-does-not-measure-labor-market-strength/#3009895a12cd

https://www.axios.com/most-jobs-created-since-recciu-1536269032-13ccc866-5fb0-44e8-bd14-286ae09c296f.html

https://www.washingtonpost.com/business/2018/09/04/how-us-economy-turned-six-good-jobs-into-bad-ones/? 

https://www.forbes.com/sites/stevedenning/2019/12/05/understanding-the-us-economy-lots-of-rotten-jobs/#6aea22af2d97