By Anna Peel. Originally published at ValueWalk.
13.3% U.S. Unemployment a Reflection of Trump’s Failure to Lead Nation in Crisis
Q1 2020 hedge fund letters, conferences and more
U.S. Unemployment Rate Rises To 13.3 Percent
WASHINGTON, D.C. – The May jobs report shows the U.S. unemployment remains at recession levels, with the jobless rate standing at an abysmal 13.3 percent. The unemployment rate among the African American community ticked up to a staggering 16.8 percent.
“Our economy is deeply broken. While the stock market is surging again, unemployment is staggeringly high and 1 in 4 Americans are skipping meals or relying on food donations,” said Kyle Herrig, president of Accountable.US. “The nation is reeling on multiple fronts, but the Trump administration only seems capable of fanning the flames of racism and exacerbating economic division. Today’s jobs report is a reflection of how deeply this administration has failed the American people, particularly people of color who have suffered record job losses on account of the crisis.”
With millions of American unemployed, underemployed or struggling to put food on the table, President Trump is celebrating today’s jobs numbers as “joyus”. It is that same out-of-touch leadership that has failed the American people on several fronts – from public health and economic security to social justice.
Is the BLS data accurate? Many are asking that question today. How does it make sense we gained millions of jobs in May, every forecaster thought that millions would be lost. Is the BLS data faulty or is there something else going on? Let us know by sounding off in the comments section!
The post 13.3% U.S. Unemployment A Reflection of Trump’s Failure appeared first on ValueWalk.
Sign up for ValueWalk’s free newsletter here.
