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Jobs Report Disappoints, As Hype Proves Misguided
The US economy added 49,000 jobs last month, the first nonfarm payrolls report since Joe Biden assum
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The bill is virus relief, real stimulus comes when the virus is brought under control
Agree, and for the US to have any other than a uneven recovery with even greater wealth inequality and greater populist resentment than pre-Covid, the Biden administration is going to have to push through another $XX? BN of spending on things like green energy, infrastructure, health care, education, etc, which will have to be at least partially funded by tax increases as a political reality (I agree with H that its not economically required).
Ya’ll need to go back 60 years to find a lower participation rate, but happily, the 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity around then was about the same, before it crashed into the “Reagan recession” [coupled with budget cuts, which were enacted in 1981 but began to take effect only in 1982, led many voters to believe that Reagan was insensitive to the needs of average citizens and favored the wealthy].
I’m sure it’ll be different this time with Robinhood!