Connect with us

News

‘Keeps on Chugging’: Unemployment Down and Wages Up in ‘Strong’ and Record-Setting June Jobs Report

Published

on

Economists are calling the June jobs report “strong,” and “solid,” with 209,000 jobs added bringing unemployment down to a near-50-year low of 3.6%. 220,000 to 240,000 jobs were predicted, but experts say historically 200,000 jobs created in one month is still impressive.

The Washington Post calls it “a slow but steady gain,” and adds experts say the U.S. will mostly likely not fall into recession.

“Bloomberg Economics, which last fall forecast a 100 percent chance of a recession by October, now says the country will ‘narrowly dodge’ a downturn this year. Major banks including Goldman Sachs and Barclay’s are watering down recession predictions, in large part because of the job market’s resilience,” The Post reports.

And The New York Times adds, “with rising wages and low unemployment, the labor market remains resilient.”

“It’s a good solid straight down the middle, this little engine just keeps on chugging along payrolls report,” says University of Michigan professor of economics Justin Wolfers, who is also a senior fellow at the Brookings Institution. “Job growth is definitely slowing,” he adds.

READ MORE: Boebert Democratic Challenger Sets Multi-Million Dollar Fundraising Record

“Bidenomics continued its underacknowledged winning streak in June,” is how The New Republic‘s Timothy Noah reported June’s jobs numbers.

“Everybody should calm the hell down,” he adds, after calling the 209,000 jobs created number “somewhat of a triumph” while noting interest rates will likely rise and the stock market dropped after the jobs data was released.

“What today’s job numbers show is that the Biden economy is proving much harder to push into recession than the Fed reckoned on. I’d like to tell you why, but I don’t know. Nobody does. But the bottom-line reality check: That is very good news.”

The June jobs report also brings some record-breaking results.

Thursday night former Biden White House Chief of Staff Ron Klein noted, “if tomorrow’s official unemployment rate is below 4%, we will have achieved the longest stretch of sub-4% unemployment on record.”

It is. We have.

Washington Post columnist Catherine Rampell notes women 25-54 working or seeking work has also just hit a record high, as has the rate of women having jobs.

The Council of Economic Advisers calls it “the highest rate since modern data began in 1948.”

READ MORE: Trump Judge’s Controversial Injunction Against Biden Hands Disney ‘Open and Shut’ Case Against DeSantis: Legal Expert

Wolfers notes the employment rate for people with a disability hit the highest rate ever recorded.

Democratic strategist, think tank founder, and political analyst Simon Rosenberg points out with these new numbers President Joe Biden has created seven times as many jobs as the last three Republican presidents combined.

He also says the average number of jobs created under GOP presidents was 10,000 per month.

READ MORE: Citing God and Attacking Biden, Kevin McCarthy Says US Should ‘Make China and India Dependent on American Natural Gas’

According to Rosenberg, under President Biden the U.S. has seen “the lowest peacetime unemployment rate since WWII,” “the lowest unemployment rate in 50 years,” “the lowest [health care] uninsured rate ever,” and “the lowest poverty rate ever.”

The Atlantic’s Derek Thompson notes over the past few years, “real wages have surged for the low-income, wiping out a quarter of the 40-year increase in inequality.”

But the Washington Post also notes that “the Black unemployment rate, which had reached a record low in April at 4.7 percent, rose in May and June again, to 6 percent. A wide body of research shows that Black workers are the first to lose their jobs in economic downturns.”

Read the tweets above or at this link.

 

Image via Shutterstock

Continue Reading
Click to comment
 
 

Enjoy this piece?

… then let us make a small request. The New Civil Rights Movement depends on readers like you to meet our ongoing expenses and continue producing quality progressive journalism. Three Silicon Valley giants consume 70 percent of all online advertising dollars, so we need your help to continue doing what we do.

NCRM is independent. You won’t find mainstream media bias here. From unflinching coverage of religious extremism, to spotlighting efforts to roll back our rights, NCRM continues to speak truth to power. America needs independent voices like NCRM to be sure no one is forgotten.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure NCRM remains independent long into the future. Support progressive journalism with a one-time contribution to NCRM, or click here to become a subscriber. Thank you. Click here to donate by check.

News

AOC Slams Anti-Biden Efforts: ‘My Community Does Not Have the Option to Lose’

Published

on

U.S. Rep. Alexandria Ocasio-Cortez, one of the most-powerful voices in the House Democratic caucus, re-asserted her support for President Joe Biden and Vice President Kamala Harris as some congressional Democrats along with pundits, pollsters, and strategists have called on the President to quit his campaign.

The 34-year-old progressive New York Democrat in a nearly hour-long live video recorded after midnight declared her opposition to those proposing an “open convention,” where the Democratic nominee fro president would be decided, despite the 2024 primaries which Biden and Harris won. She blasted the numerous Democrats anonymously calling for Biden to end his campaign, and slammed those who have little to lose who appear to be behind the movement to oust the President, and those who have already concluded the Democrats cannot win.

“I will say, what upsets me is people saying, ‘we will lose.’ ”

“For me,” she continued, before taking a long, thoughtful pause, “I don’t care who – to a certain extent – I don’t care what name is on there. We are not losing.”

READ MORE: House Dem Leader Hakeem Jeffries and Hispanic Caucus Campaign Arm Rally Behind Biden

“I’m about you, but my community does not have the option to lose. My community does not have the luxury of accepting loss in July,” she said before stressing, “of an election year.”

“Like, my people are the first ones deported. They’re the first ones put in Rikers,” she continued, referring to the infamous New York City jail. “They’re the first ones whose families are killed by war. And this is horrific. I’m not here to like say everything is amazing. Okay, I’m not here to say that like, oh, you know, to lie to people. What I am here to say is that we need to live, we need to make decisions in the conditions that we have before us.”

“Most of the Ocasio-Cortez’s nearly hour-long Live session focused on the risks of forcing Biden to step aside, including potential legal challenges from Republicans and ballot access deadlines in various states. ‘I have not seen a scenario, an alternative scenario, that I feel does not set us up for enormous peril,’ she said,” Business Insider reported.

“If you’re falling out of a coconut tree, God bless you,” she said. “If you’re riding with the President, God bless. I’m not an open-convention person. I think that is crazy.”

READ MORE: ‘Unmitigated Disaster’: Conservatives Stunned by ‘Clinically-Insane Trump Speech’

Congresswoman Ocasio-Cortez also made headlines by pointing out that she believes if President Biden were to step aside, Vice President Kamala Harris would also be targeted by some of the same Democrats trying to oust the President.

“I’m just going to say it: If you think that there is consensus among the people who want Joe Biden to leave… that they will support Kamala, Vice President Harris, you would be mistaken,” she added. “They are interested in removing the whole ticket.”

To those Democrats leaking opinions or being quoted anonymously, she had a few strong words.

“That’s b*llsh*t. If you have an opinion, say it with your chest and say it in public,” she said. “That’s a bunch of horsesh*t.”

Her Instagram Live remarks have over 80,000 likes and 6000 comments.

What her full video and the short clip above or at this link.

READ MORE: ‘Stop the Attacks’: 1400 Black Women Leaders Demand DNC Support Biden and Harris

Continue Reading

News

House Dem Leader Hakeem Jeffries and Hispanic Caucus Campaign Arm Rally Behind Biden

Published

on

Minority Leader Hakeem Jeffries, in line to become Speaker if Democrats retake the House in November, Friday morning told reporters the presidential ticket has not changed and he believes President Joe Biden is capable of doing the job and winning re-election.

Jeffries’ remarks come amid calls for President Biden to exit the re-election campaign, largely from the “Democratic machine,” including pundits, strategists, and pollsters, along with some Democratic members of the House and Senate.

“President Biden, as I’ve said repeatedly, is our nominee,” Leader Jeffries said in Brooklyn Friday morning, according to video (below) posted by WNBC-TV managing editor Steven Bognar. “He has a tremendous track record of success. He’s one of the most accomplished American presidents in our history. And, he has the vision, I believe the ability, the capacity and the track record to make a case to the American people that will result in us being successful in November.”

“I’ve answered that question repeatedly over the last three weeks,” Jeffries also told reporters, as NBC 4 reported. “I’ve answered that question repeatedly, my answer has not changed.”

Also Friday morning the congressional arm of the Congressional Hispanic Caucus announced its endorsement of the President’s re-election bid.

READ MORE: ‘Stop the Attacks’: 1400 Black Women Leaders Demand DNC Support Biden and Harris

“The fundraising arm of the Congressional Hispanic Caucus, Bold PAC, has endorsed President Joe Biden for re-election, the Biden campaign said in a statement on Friday,” Reuters reports.

Forbes reported last week, “Rep. Steven Horsford, D-Nev., chair of the influential Congressional Black Caucus, expressed support for President Joe Biden, bolstering Biden’s argument that his base is still behind him amid calls for him to step aside in the race.”

Also last week, The Washington Post reported, “Black House Democrats embrace Biden at another critical juncture.”

“The importance of the roughly 60-member Congressional Black Caucus (CBC) — which includes [Rep. James] Clyburn and House Minority Leader Hakeem Jeffries (D-N.Y.) — was on display Monday night as Biden met with the bloc in a Zoom call, the first with a group of elected lawmakers. The message that many Black Democrats planned to convey to Biden, according to the people familiar with the CBC’s thinking: We will stick by you as we always have.”

READ MORE: ‘Unmitigated Disaster’: Conservatives Stunned by ‘Clinically-Insane Trump Speech’

Congressman Clyburn, who was instrumental in Biden winning the Democratic nomination in 2020, and the election, “has said publicly that he is firmly behind Biden but open to embracing Vice President Harris filling the role if Biden steps aside,” The Post reported.

But while last week the paper noted, “not a single Black House Democrat has defected,” Friday morning one member of the CBC did. U.S. Rep. Marc Veasey (D-TX) became the first member of the Congressional Black Caucus to break ranks, as Punchbowl News’ Max Cohen reported.

MSNBC reports on Friday a total of six members of the U.S. House and one U.S. Senator called on President Biden to exit the race.

Watch video of Democratic Leader Jeffries from Friday below or at this link.

READ MORE: ‘Democratic Machine’ Strategists Behind Move to Oust Biden: Ex-Congressman

 

Continue Reading

News

‘Stop the Attacks’: 1400 Black Women Leaders Demand DNC Support Biden and Harris

Published

on

Amid reports of multiple top Democrats telling President Joe Biden he should end his reelection campaign, largely based on polling, more than 1400 Black women leaders and allies have sent Democratic Party leaders a letter demanding they support Biden, the presumptive nominee, and his running mate, Vice President Kamala Harris.

Calling the efforts to oust President Biden “unjust and undemocratic,” the letter states: “The Biden-Harris Administration is running on a solid record of historic legislative accomplishments and a commitment to finish their agenda to improve the lives of all Americans, protect our rights, freedoms and democracy. Further, we believe it is unfair and disruptive to judge President Biden for having a bad 90-minute debate performance against a serial liar who wants to destroy our democracy and be a dictator-in-chief.”

“Now is the time for the Democratic Party to stop the attacks against their own presidential nominee that ‘we the people’ voted for and focus on defeating the real threat to our democracy and that is Donald Trump,” they say.

READ MORE: ‘Democratic Machine’ Strategists Behind Move to Oust Biden: Ex-Congressman

The Hill reported on the letter Thursday afternoon.

No political affiliation was indicated.

Its signatories include attorney Keisha Lance Bottoms, the former Atlanta mayor and former Biden Director of the Office of Public Engagement, and former U.S. Senator Carol Moseley Braun, the first Black American woman elected to the Senate.

The letter also states the women “are writing to share our deep concern and dismay at the lack of unity being displayed by some of our elected democrats and Democratic Party leadership, who are not standing firmly and resolutely for the re-election of President Joseph Biden and his running mate, Vice President Kamala Harris.”

“During the primary election process held across the country earlier this year, 14 million Americans cast ballots for President Biden and Vice President Harris. They are the duly elected democratic party nominees for the 2024 Presidential election. We reject all efforts to disregard this fact or to circumvent the will of millions of voters who participated in a democratic process. The primaries held earlier this year were the appropriate time to challenge candidates for the nomination and press arguments about qualifications. The suggestion that any candidate who won their primary should simply step aside because victory appears difficult at the moment is disrespectful to the voters, unjust and undemocratic.

READ MORE: ‘Have to Stop This Psychopath’: Conway Launches PAC Focused on Trump ‘Mental Instability’

A small selection of other signatories include:

Political strategist and former acting DNC chair Donna Brazile

Former NAACP national president Hazel Dukes

LaTosha Brown, co-founder of Black Voters Matter

Actress and producer Vivica Fox

Attorney CK Hoffler, former Chair of the National Bar Association

Star Jones, former co-host of “The View”

Tennessee state Rep. Karen Camper, the Democratic Minority Leader

Dr. Leslie Copeland-Tune, Chief Operating Officer of the National Council of Churches

North Carolina State Senator Kandie Smith

Regina Goodwin, Oklahoma state Rep. from 2015 to 2024, now state Senator-elect

READ MORE: ‘Wake Up People’: Trump ‘Elevating Criminals’ as MAGA Wants to ‘Wreck America’ Says Expert

 

Continue Reading

Trending

Copyright © 2020 AlterNet Media.