The President’s Ignoring Covid-19 for Over Two Months Created Massive Unemployment

Seasonally adjusted US nonfarm payrolls - Axios 050820Donald Trump’s dithering on the coronavirus and his abject failure to provide the necessary leadership on producing a viable plan to deal with it has forced the shut down of much of our national economy. Little wonder then that the specter of a deep recession or even a depression the likes the nation went through in the 1930’s may be the end result. These charts show the unemployment rate going up in a straight line to an almost current 15%. Not surprising the rate is higher for those without a high school or college degree. Minorities have a higher rate than white Americans.

The Congress has provided hundreds of billions of dollars to address this matter but more likely will be needed.

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Image source: Unemployment rate soars to 14.7% in April, Axios