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Is COVID Jobs Recession About To Get Worse?

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Posted By: RockyTCB, 1/21/2022 10:48:27 AM

Hand it to President Joe Biden: He sticks to his story no matter what. In this week’s press conference, he again tooted his own horn when it comes to job creation. “We created 6 million new jobs, more jobs in one year than any time before,” Biden said. True enough, but as even the Associated Press noted: “The economy added 6.4 million jobs in 2021, the most on government records dating back to 1939, but part of that is just a natural rebound from what had been the steepest job loss on record in 2020, when 9.4 million jobs were

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Reply 1 - Posted by: DVC 1/21/2022 10:58:48 AM (No. 1046257)
The only "jobs" that Joe has created, ever, plopped into the toilet and got flushed away.
7 people like this.

Reply 2 - Posted by: griddog1 1/21/2022 11:26:45 AM (No. 1046291)
Joe never was any good at math.There is only one person who believes anything he says, and when he looks in the mirror he's looking at that one person.
7 people like this.

Reply 3 - Posted by: zephyrgirl 1/21/2022 12:03:50 PM (No. 1046341)
If the 70s and 80s are any indication, the answer is yes. Spending drives inflation ("too many dollars chasing too few goods"), and much of today's spending is done on credit of some type. So.....raise the cost of credit and make spending more expensive, thereby decreasing demand. Unfortunately, decreased demand has other impacts - less construction, manufacturing, dining out, vacationing, etc. With less of those activities, those industries shrink and shed employees. Voila! Then you get stagflation. The best thing to do is get out of debt, particularly those pesky credit cards that can adjust their rates, convert variable rate mortgages to fixed rate mortgages, and hunker down.
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Reply 4 - Posted by: LC Chihuahua 1/21/2022 12:08:35 PM (No. 1046347)
Just about everything done in the name of COVID has been a job killer. Many of our 'leaders' at all levels are OK with that. From our federal government to governors and mayors, to corporations enacting mandates, everything has killed jobs.
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