Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Philstockworld (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Non-Farm Friday – Is America Working?

% of readers think this story is Fact. Add your two cents.


700,000 jobs.  

That’s how many they expect to have created last month.   That would be up a bit from 559,000 in May (if it isn’t revised – these numbers are wildly inaccurate) and that would leave our Unemployment Rate at 5.6% – still kind of high, actually.  According to the Congressional Budget Office, we are on track to recover all of the jobs lost during the pandemic in about 12 months – but what about the jobs that should have been created during those two years?  Usually we create 3M jobs per year to keep up with population growth – we are still woefully behind the curve.  

The forecasters expect economic growth to continue at a strong pace in 2022, hitting 5% in real terms. But they see it declining quickly in the years to follow, as the labor force grows more slowly than is typical. Budget office officials said that reflected, in part, the effects of more restrictive immigration policies adopted under Trump. By 2023, the office predicts, growth will slow to 1.1%.

Ingram Pinn illustration of Ruchir Sharma opinion story ‘Dear Joe Biden, deficits still matter’After already running a $3Tn deficit in FY 2021 (15% of our GDP), Biden is currently pushing Congress to approve as much as $4Tn in spending and tax cuts meant to create jobs and aid growth by improving the productivity of workers and the broader economy, like repairing bridges and subsidizing child care costs to help more parents, particularly women, work additional hours.  Biden’s rescue plan included direct payments of $1,400 each to low- and middle-income Americans, $350 Billion to help states and municipalities patch what were expected to be budget shortfalls and hundreds of Billions of dollars to accelerate vaccines and more widespread coronavirus testing. It also extended supplemental federal payments of $300 a week to unemployed workers through September, a benefit that Republican governors across the country have ended early as business owners complain of difficulties finding workers. 

That’s where our 5% “growth” is coming from – not because the economy is actually doing great.

For instance, 370,000 restaurants applied for $75Bn in funding from the Restaurant Revitalization Fund, nearly three times what the program had available. Around 105,000 businesses were approved for grants,

Provided courtesy of Phil’s Stock World.

To read the rest of this article now, along with Phil’s live intra-day comments, live trading ideas, Phil’s market calls, additional member comments, and other members-only features – Come to the winning side at Phil’s Stock World by clicking here.

To sign-up for a free trial membership, click here.



Source: https://www.philstockworld.com/2021/07/02/non-farm-friday-is-america-working-31/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.