Progress in the labor market has stalled, as initial claims for unemployment benefits rose 4,000 last week to 870,000. That comes as no surprise here, because the gradual loss of enhanced benefits at the beginning of August is starting to weigh heavily on consumer spending, which is what fuels job creation in a consumer-driven economy. When we include those filing under the federal Pandemic Unemployment Assistance program, weekly claims are still well above one million, which is depressing when the peak in weekly claims during the Great Recession was 665,000.

https://seekingalpha.com/article/4376445-double-down-double-dip

ProfessorGAC

(64,989 posts)

5. S&P Down 5.34% In Last 30 Days

Reply to empedocles (Original post)

Sat Sep 26, 2020, 03:27 PM

Sep 2020

Dow is down 4.63%, and NASDAQ is down 6.12%.
At the very least, it takes that issue out of PINO's lying mouth. It won't be crowing markets dropping at 86.7, 72.1, & 104% annualized.
In fact, I'd dems asked me, I'd tell them to use the annualized numbers, as they would grab attention, and they are mathematically true.

crickets

(25,960 posts)

7. There's the real tell in loss of donnie's support.

Reply to empedocles (Original post)

Sat Sep 26, 2020, 05:00 PM

Sep 2020

Wall Street has been propped up for quite a while during what passes for an economy during COVID. How interesting things are tailing off a bit just before the election.

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