The Jobs Report For August

 This morning we heard that the economy created 1.4 million new jobs in August and the unemployment rate fell to 8.4%.  These are good numbers.

First, these figures mean that well more than half of those who were unemployed due to COVID are now back at work.  The unemployment rate is also below 10% for the first time since the start of the main effects of the virus.  Wages are up.  Labor participation is up.  Basically, every statistic released today has been good.

That doesn't stop the media/Democrats though.  I've seen four reports of the jobs reports in the mainstream media.  Each one focuses on the fact that not every job lost to the virus has been recovered.  Three out of four also focuses on the number of jobs that have been lost permanently due to the virus.  

This is irresponsible reporting.  First, obviously not all jobs have been regained.  No one says that they have, but the media takes pains to knock down a claim no one has made.  The real question is whether the economy is moving forward rapidly to bring Americans back to work.  The answer to that is clearly yes.  The next question for America is whether or not they want President Trump's proven leadership on the economy or Joe Biden with his crackpot Socialist schemes that would inevitably inflict major damage on the economy.

Second, there are obviously jobs that have been lost permanently due to the virus.  Just think about all the restaurant workers in places like New York City where the local government won't allow restaurants to serve people inside (as opposed to outdoor dining.)  Restaurants in New York City are big business.  As more and more of these restaurants close permanently once the cooler weather sets in and outdoor tables are no longer feasible, we will see many more jobs lost permanently.  Indeed, both NY mayor DeBlasio and governor Cuomo don't seem to care at all about the loss of hundreds of thousands of working class jobs in the restaurant industry.  At the moment, NY has lower levels of COVID cases than any other state, but the mayor and the governor won't take the reasonable steps that essentially every other state has approved like allowing partial opening for inside dining.

There will be just one more Jobs Report prior to the election.  It will be released during the first week of October.  Baring some unexpected development, it will show another million plus jobs being created in September and a further lowering of the unemployment rate.  Trump is correct about that V shaped recovery.

I lived in Connecticut all through the Obama years.  We had a Democrat in the White House, a Democrat as governor in Hartford, Democrat control of the state legislature and for the first six years Democrat control of all or one house in Congress.  At the end of eight years of Obama and Biden, Connecticut still had not recovered all the jobs it lost during the financial crisis at the start of Obama?Biden's first term.  Why would anyone think that Biden could do any better now?  He doesn't even have a coherent plan.