WSJ
May 8, 2020
https://www.wsj.com/articles/april-jobs-report-coronavirus-2020-11588888089?mod=hp_lead_pos1&mod=article_inline&mod=hp_lead_pos1
let the projection and lambasting begin on Barr, his staff and POTUS, because (((they))) can't win on the facts.
dems have no shame, sad!
A Tragic Record: For The First Time Ever, More Than Half Of The US Population Is Not Working
May 8, 2020
Today's jobs report was, as expected and as previously discussed, absolutely horrific, although as Bank of America points out there was one silver lining which Larry Kudlow quickly latched on to: with 72% of jobs lost being reflected as temporary layoffs, workers should be able to be more seamlessly rehired as the economy reopens. However, the longer this pandemic goes on, the more likely that what was temporary becomes permanent, and as we pointed out in a previous post, even baseline cases see unemployment not returning back to normal until 2022 or later.
Offsetting this "good news", however, there was one especially scary aspect of today's jobs report that has not gotten enough publicity, namely that as BofA writes, the employment to population ratio plunged to a record low, with only 51.3% of the population working. Inversely, this means that in April, 49% of the US population was not working…..
This means that the employment-to-population ratio is also undercounted by about 4-5%, and that as of this moment (we will get the May jobs data in 1 month), the employment to population ratio is below 50%, indicating that for the first time in history, more than half of the US population is unemployed!
Which is great news for stocks: think of all the people who have nothing better to do than buy the fucking dip all day with all that helicopter money the Fed will be showering on them for the coming years.
https://www.zerohedge.com/markets/tragic-record-first-time-ever-more-half-us-population-not-working