Exactly!Originally Posted by FriscoDawg
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Exactly!
You’ll never see this in the main stream media The number of African Americans holding jobs expanded to 16,523,000 from 16,240,000 in May. That 283,000 rise was more than ten time the rise of the population, so it involves a real expansion of employment among African Americans.
Black unemployment increased in May from 16.7 to 16.8* percent while white unemployment decreased.
*The BLS reports from April and May actually underreport unemployment because they misclassified furloughed workers and didn’t include them in the standard unemployed list.
https://www.google.com/amp/s/www.cnb...-reported.html
https://www.google.com/amp/s/www.cnb...ata-shows.html
Love it!!
Poll: Black voter approval for Trump 41%
Result Friday after another week of racial turmoil
Published June 6, 2020 at 12:19pm
The conventional wisdom is that the racial turmoil of the past two weeks is damaging President Trump's support among blacks, but the latest Rasmussen poll of likely voters shows a remarkable 41% of blacks approve of his performance.
In the 2016 election, Trump won only 8% of the black vote, a typical figure for Republican candidates.
While some might view the survey by the "conservative" Rasmussen as an outlier, its finding in December of 34% approval among blacks was affirmed by an Emerson College poll that had it at 35%. And a Marist poll at the time found 33% of non-white voters in approval of the president.
More
https://www.wnd.com/2020/06/rasmusse...ump-surges-40/
You are late again. This was addressed yesterday.
Surely you’re not talking about that NPR poll you cited.
Which was a response to the exact same poll that Ray just posted.
"We have a Constitution. And we have to follow that Constitution. And the President has drifted away from it.”
-Colin Powell, joining many other former military leaders in criticism of Trump
It is a relief that our military leaders understand things that Trump doesn’t.
The best part is, this particular "Jobs Report" was expected to show 8 million more jobs LOST, but instead, showed 2.5 million jobs GAINED. That's why Wall Street skyrocketed on Friday.
So, just as I've been telling you, this thing is over. You just didn't know it, and you weren't accepting it.
But CONTEXT:
"The black unemployment rate did rise slightly in May, ticking up from 16.7 to 16.8. But that was because the reopening of the American economy drew more African Americans into the workforce, increasing it by 377,000 workers. That raised the workforce participation rate from 58.6 percent to 59.6 percent". --Quote from article
https://www.breitbart.com/economy/20...panded-in-may/
The jobs report did boost the market on Friday but the futures were already showing an open of over 300 in the Dow before the report was published.
The number was better than expected but not the 10 million delta you were projecting (though somebody may have projected that big of loss - that wasn’t anywhere close to the projection for the street).
But the number of jobs added is also misleading because of the BLS’s mis-classification of furloughed workers, which of counted correctly, would show an unemployment number of over 16 million than the 13 million reported. The same error was made in April, however, so it isn’t that informative on a relative basis.
Unfortunately, the PPP didn’t help blacks as much as whites because of systemic “under” banking by black businesses.
I can't decide if you are genuinely WRONG this often, or if you are just another purposeful liar.
There's a 529 point difference between what the futures markets (you say) were saying before the Jobs Report was released on Friday, and how the market finished.
Below are two separate CNBC stories (the folks you called the Holy Grail of Finance just last week) written just prior to the market opening on Friday. Both articles state that expectations for the May Jobs Report release would show a loss of another 8.333 MILLION jobs. As we now know, the U.S. GAINED 2.5 million jobs instead. That's a 10.833 "delta", so you're wrong again.
https://www.cnbc.com/2020/06/04/the-may-unemployment-rate-is-expected-to-be-near-20percent-as-millions-more-lost-jobs.html
https://www.cnbc.com/2020/06/05/5-things-to-know-before-the-stock-market-opens-june-5-2020.html
By the way, those "furloughed" workers that you say are misclassified (and I've read about that) don't have a paycheck coming in, and there's no guarantee that their job will still be there when this COVID thing is over. Furthermore, as "furloughed" workers, they are eligible for unemployment compensation, so it would be absurd to omit them from the statistics.
I agree they should be counted as unemployed. If you do that, unemployment goes over 16 million, and the delta is between 3-4 million relative to the 20 million expected for May.I can't decide if you are genuinely WRONG this often, or if you are just another purposeful liar.
There's a 529 point difference between what the futures markets were saying before the Jobs Report was released on Friday.
Below are two separate CNBC stories (the folks you called the Holy Grail of Finance just last week) written just prior to the market opening on Friday. Both articles state that expectations for the May Jobs Report release would show a loss of another 8.333 MILLION jobs. As we now know, the U.S. GAINED 2.5 million jobs instead. That's a 10.833 "delta", so you're wrong again.
https://www.cnbc.com/2020/06/04/the-may-unemployment-rate-is-expected-to-be-near-20percent-as-millions-more-lost-jobs.html
https://www.cnbc.com/2020/06/05/5-things-to-know-before-the-stock-market-opens-june-5-2020.html
By the way, those "furloughed" workers that you say are misclassified (and I've read about that) don't have a paycheck coming in, and there's no guarantee that their job will still be there when this COVID thing is over. Furthermore, as "furloughed" workers, they are eligible for unemployment compensation, so it would be absurd to omit them from the statistics.
I think you understand that many of these PPP jobs remain in a precarious situation because SOME of them would not be “employed” right now but for the fact that their pay is covered by the government for 10 weeks. If business doesn’t resume to the level needed to support their full employment, then those folks could be laid off again in the near future. We also know that their will be many airline furloughs to hit in October, so there remains headwinds to the recovery of unemployment through Q2 and Q3.
Meanwhile we are seeing coronavirus cases build in places like Texas. I don’t think Abbott will allow another lockdown, but it won’t matter if significant numbers of would-be consumers bunker in because of the risk of getting and transmitting the disease. Which is why we all need to be wearing masks and practicing social distancing...
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