DNC on Latest Unemployment Numbers

DNC Chair and former Labor Secretary Tom Perez released the following statement after another 1.1 million Americans filed initial claims for unemployment last week:

“Donald Trump is the worst jobs president in recorded history. And he’s not showing any signs of getting better. While Trump continues to bungle the response to this deadly pandemic, Americans are losing their lives, jobs, savings, and loved ones every single day. For the 31st consecutive week, more people have filed for unemployment benefits than during the single worst week of the Great Recession. Unlike Donald Trump, Joe Biden and Kamala Harris have a plan to tackle the coronavirus and help us build our economy back better. And in 12 days, the American people are going to put them in charge.”

1.1 million Americans filed new claims last week. For 31 consecutive weeks, more people have filed for benefits than during the single worst week of the Great Recession.

Washington Post’s Heather Long: “1.1 million new unemployment claims were filed last week. (757k state UI claims and 345k PUA claims for self-employed)”

Business Insider: “Thursday’s reading also far exceeds the 665,000 filings made during the Great Recession’s worst week.”

Over 23 million Americans are receiving some form of unemployment relief – over 16 times more than a year ago.

Washington Post’s Heather Long: “Over 23 million Americans are on unemployment aid.”

More than 65 million unemployment claims have been filed since the pandemic began, far surpassing the total during the entire Great Recession.

Business Insider: “More than 65 million unemployment insurance filings have been made since March, handily surpassing the 37 million seen during the 18-month Great Recession.”

Job recovery has slowed significantly as Trump has failed to deliver more relief or get the virus under control.

New York Times: “Job growth slowed further in September, as fading government support and the failure to contain the coronavirus threatened to short-circuit the once-promising economic recovery.”

Washington Post’s Heather Long: “The jobs recovery is slowing down – a red flag for the economy & recovery.  March: -1.4 million lost April: -20.8 million lost May: +2.7 million back June: +4.8 million back July: +1.8 million back August: +1.5 million back September: +661,000 back”

New York Times: “American employers continue to shed workers at a staggering rate as a resurgent coronavirus and the absence of new federal aid take a toll on economic growth.”

More than five months past the worst of the recession, only half of jobs lost during the pandemic have come back.

Washington Post’s Heather Long: “The US lost 22.2 million jobs in March & April So far, 11.4 million jobs – 51.5% — are ‘back’  **But 10.7 million Americans still do not have a job again**  (And that doesn’t count people who are working again at reduced hours or lower pay)”

Layoffs increased in September and permanent job losses continue to mount, increasing by 2.5 million since February.

Reuters: “U.S. employers announced another 118,804 job cuts in September, with bars, restaurants, hotels and amusement parks leading the pack amid sluggish demand several months after the COVID-19 pandemic struck the nation. The layoffs reported by global outplacement firm Challenger, Gray & Christmas on Thursday were up 2.6% from August and boosted total job cuts so far this year to a record 2.082 million. The previous all-time annual high was 1.957 million in 2001.”

BLS: “In September,  the number of permanent job losers increased by 345,000 to 3.8 million; this measure has risen by 2.5 million since February. The number of unemployed job leavers rose by 212,000 to 801,000 in September.”

Black and Hispanic unemployment remain in double digits as only one-third of jobs for Black Americans have come back.

ABC News: “Broken down by racial groups, the latest data shows a disproportionate impact of the unemployment crisis on people of color. The unemployment rate in September for white workers was 7%, for Black workers was 12.1%, for Hispanic workers was 10.3% and for Asian workers was 8.9%.”

Washington Post’s Heather Long: “This is such an unequal recovery.  Barely a third of jobs are back for African-American men and women compared to 60% for white men and women.  Jobs recovered: Black men: 34% Black women: 39% Hispanic: 55% Asian: 59% White men: 60% White women: 60%”

The U.S. economy is still down more jobs than the peak of the Great Recession.

Washington Post’s Catherine Rampell: “The job market is definitely healing, but U.S. payrolls are still down 7% on net since Feb. That means the economy is still ‘missing’ more jobs today than it did at the worst period of any prior postwar recession.”

Hundreds of thousands of small businesses have shuttered for good, and millions of small firms remain at risk.

New York Times: “More than 400,000 small businesses have already closed and millions more are at risk.”

Americans are suffering and millions have slipped into poverty and food insecurity is on the rise across the country.

New York Times: “8 Million Have Slipped Into Poverty Since May as Federal Aid Has Dried Up”

CBS News: “‘Staggering’ need: COVID-19 has led to rising levels in food insecurity across the U.S.”