The U.S. Department of Labor reported 661,000 jobs returned to the economy in September, down from the 1.4 million jobs that returned in August. It was the third straight month where the number of returning jobs fell. September's unemployment rate came in at 7.9%, down from August 8.4%. But the Department noted the September rate was actually higher because more people stopped looking for work and the Department counts those who are actually looking for work as being unemployed.
So as of September 30 a little over 10 million workers have yet to return to work out of the 21,501,999 million workers who lost their jobs. The unemployment rate for January 2017 when Trump took office was 4.7% and when Trump's first term in office ends on January 20, 2021 he may very well become one of the many republican Presidents who finished his term in office with an unemployment rate higher then when they took office. In fact in the last 60 years Reagan is the only republican President who finished his term with a lower unemployment rate than when he took office.
The larger problem stems from Trump and his republican controlled U.S. Senate's failure to come up with a true economic and stimulus plan to address the economic recession and pandemic problem. History and precedent tells us it is a republican party pattern because of their ideology and a lack of policy and plans on the issues that affect the country and the people.
And at this late date before an election, Trump and his party are still in denial.
This commentary written by Joe Lorio
