Depression-Level Unemployment Filings Underscore Trump’s Failure to Lead the Nation’s Recovery
WASHINGTON, D.C. – The U.S. economy remains in free fall, as today’s jobs report shows that 42 million Americans have now filed for unemployment due to the COVID-19 pandemic. Compounded with the ongoing civil unrest over systemic racism and police brutality, the Trump administration’s incompetence and inadequacy are worsening all facets of our public health, economic, and social justice crises.
Pros And Cons Of Tail Risk Funds
Editor’s note: This article is part of a series ValueWalk is doing on tail risk hedge funds. The series is based on over a month of research and discussions with over a dozen experts in the field. All the content will be first available to our premium subscribers and some will be released at a Read More
Economic Fallout Leads To Depression-Level Unemployment
“Our nation is grappling with several crises that Trump and his administration are actively worsening: a global pandemic that has taken the lives of hundreds of thousands of people around the world, economic fallout leading to Depression-level unemployment, and ongoing protests sparked by the murder of George Floyd and the far-reaching impacts of racism and injustice,” said Kyle Herrig, president of Accountable.US.
“Today’s jobs report only further underscores how deeply this administration has failed the American people, including and especially communities of color. Any further relief and stimulus efforts must ensure that the communities being hardest impacted by the COVID-19 pandemic have the resources they need to recover.”
African-American Deaths From COVID-19
Black workers have “suffered record numbers of job losses over the last two months.” And according to an analysis from NPR, “African-American deaths from COVID-19 are nearly two times greater than would be expected based on their share of the population. In four states, the rate is three or more times greater.”
The catastrophic numbers coming out of today’s report are a direct result of President Trump’s failed response to the coronavirus pandemic. From neglecting to distribute necessary testing resources to states, to ignoring expert advice, to putting people in charge with no experience, it is clear that this administration’s response to the COVID-19 pandemic has been driven by corruption and cronyism, not by what’s best for the American people.