Stephanie Ruhle does a great job deconstructing the unemployment report in a form that everyone can understand. Sadly too many are suffering.
Stephanie Ruhle not fooled by unemployment report
Stephanie Ruhle did what she does best. Listen to the clip as she points out the reality of the recent unemployment report.
“The unemployment number is dropping,” Stephanie Ruhle said. “But it is still 8.4% which is among the highest we have seen in modern history. So when the president and Larry Kudlow talk about the economy and the talk about COVID being behind us. It is not behind us.”
Ruhle then goes on to explain the inconvenient truth about who is benefiting from the small recovery.
“What this recovery is, is fragile and fragmented,” Stephanie Ruhle said. “And what we are seeing more is this “K,” the rich are getting richer and the poor are getting poorer. So while the number is getting lower, we still have tens of millions of Americans who are out of work. And these weren’t jobs that were created, 1.4 million jobs, they are jobs that are back. And still, less than 50% of the jobs lost in the pandemic have come back online.”
And then Ruhle explains the most callous reality about this anemic recovery.
“It is a difficult time,” Ruhle said. “And it’s a time when a lot of people who can work from home, who are invested in the markets are frankly doing really, really well. And the rest of the country are really suffering.”
We cannot allow Trump to do a victory lap on what is at best not a recovery for most, an anemic recover for some, and a windfall for a few.
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