The U.S. Labor Department reported that the economy lost 20.5 million jobs in April and that the unemployment rate jumped to 14.7%. It was 4.4% in March and 4.7% when Trump took office. April's job losses and unemployment rate was the highest since the great depression. The department also reported the job survey numbers included only half of April so the job loses were actually higher than the numbers reported.
Trump and his administration now joins every republican administration since Teddy Roosevelt to preside over a recession or depression. And in more recent times the last four republican administrations have presided over an economic recession despite three major tax cuts by Reagan, Bush 43 and Trump. And all of that was not a co-incident. And now Trump has to start all over on job creation and put all the unemployed back to work before he can create any new jobs. President Obama accomplished that after Bush's great recession and created new jobs that Trump has not matched even before the coronavirus.
In 2016 Trump ran for President with an economy that was in its 7th straight year of expansion, job creation, much lower deficit spending and falling unemployment. Now in 2020 Trump is running for re-election during his own recession, lost jobs, rising unemployment, rising deficit spending and playing the blame game for his own failures. And PolitiDose called the shots of the coming recession on Trump's watch because it was all predictable and part of the republicans failed past.
And once again it will be a democratic administration that has to pick up the pieces by governing with policies and plans for a new beginning.
This commentary written by Joe Lorio
