America has a smaller economy and fewer jobs than when this administration started.

They inherited strong trends & tried to take credit for it. Then, when we need real leadership, he was not up to the job.
V-shaped reco| ___ery?
\/
This chicken may claim it is doing a wonderful job driving but it just took over the wheel when momentum was going the right direction.

When circumstances require more than squawking & preening, crash.
Same basic reality across states.

To get the economy moving again, we should crush the virus.

But our national response was & is a disaster, ranked among the worst as reported @USATODAY.

The U.S. has 4.5% of global population & 20% of COVID deaths.

amp.usatoday.com/amp/5659696002
Our failed national COVID response cost tens of thousands of American their lives and millions of Americans their livelihoods.

brookings.edu/research/covid…
It's basically the same story in Ohio (GOP gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Michigan (Dem gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Florida (GOP gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Alabama (GOP gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Massachusetts (GOP gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Georgia (GOP gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Kentucky (Dem gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Washington State (Dem gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in North Carolina (Dem gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in South Carolina (GOP gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
It's basically the same story in Nevada (Dem gov) as the U.S.

Steady progress after 2010.

Nothing special after 2016.

Massive job loss in March & April 2020.

Weak, incomplete recovery over summer & fall so far.

This is a national, not a state, issue.
Just to get a sense of scale, we have 10.8 million jobs fewer jobs now than in February 2020.

In the Great Recession, we lost 8.8 million.
Not only is the labor market smaller now than in Jan 2017, the U.S. economy is also smaller.

Look at the current contraction relative to the Great Recession.
If you want to understand how the economic recovery is likely to proceed under alternative election scenarios, check out Wall Street's @MoodysAnalytics modelling.
moodysanalytics.com/-/media/articl…

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More from @aaronsojourner

7 Oct
17.1 million American households are behind on their housing payment.

5.5 million are very likely or somewhat likely to leave their home due to eviction or foreclosure in the next two months.

This adjusts for item nonresponse @uscensusbureau #HouseholdPulseSurvey for 9/16-9/28.
15% of American renters (8.4 million households) are behind on rent.

Among them, 46% (3.9 m) report it very or somewhat likely that they will have to leave their home in the next 2 months due to eviction.
10% of American households with a home mortgage (8.7 million) are behind on their mortgage.

Among them, 19% (1.6 m) report it very or somewhat likely that they will leave their home due to foreclosure in the next two months.
Read 5 tweets
24 Sep
1.45 million initial state + PUA unemployment insurance claims filed in week ending 9/19, similar to prior week.

This extends a terrible streak to 27 consecutive weeks each with more UI claims than any of prior 2,776 weeks, back to record's start in 1967.
washingtonpost.com/business/2020/…
The number of Americans continuing to use UI payments is reported at 26 million. A reporting issue in CA made this higher in prior weeks.

U.S. has 6.6 million job openings.

If every opening were filled, there would be 19.4 million Americans using UI.
To get a sense of weakness in that labor market, the share of Americans in their prime working years (age 25-54) who are now employed remains 5.2 percentage points below its February level.

This level is similar to its lowest level during and after the Great Recession.
Read 18 tweets
23 Sep
Millions of Americans worried about their ability to pay for housing.

1 in 11 Americans with a mortgage and 1 in 4 renters report no confidence or slight confidence in their own ability to make their October housing payment.

Data @uscensusbureau #HouseholdPulseSurvey
Huge shares of renters lack confidence in ability to pay October rent in Southern states, NV, NJ, RI, TX, and WY.
A large share of American households with a mortgage lack confidence in ability to pay October housing payment in Southern states, Dakotas, IL, WV, SC, and NY.
Read 8 tweets
15 Sep
🎉Updated paper w/Jason Sockin 🎉

Jobseekers struggle to understand attributes of potential employers.

Current & former employees have inside scoop but weak incentive to supply voluntarily, face retaliation risks.

Strong demand for neg info. papers.ssrn.com/sol3/papers.cf… Image
Because a job is so central to one's well-being and various forces make jobs hard to replace, risks are higher when leaving a negative review of your employer than a restaurateur or hotelier. Image
Employers can and often do use discourage current & former employees from surfacing negative information.

For instance, over 1/3 US workers report being bound by nondisclosure clauses (per @evanpstarr), which bleed into nondisparagement & lawsuit risk (@OrlyLobel).
Read 16 tweets

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