The U.S. economy added just 245,000 jobs last month. That’s a small number and a very big deal. Congress needs to step in now. The Washington Post calls it a “warning of problems for the recovery”:
The report comes during what economists and policymakers say is a perilous moment for the economy. The generous aid programs that helped prop up businesses and households during the worst of the pandemic have long expired, and the House, Senate and the White House have spent months in disagreement in negotiations over further action.
Unemployment benefits for an estimated 12 million people will expire at the end of the year, due to deadlines set by legislators in March. And the virus’ surge has begun touching off a new round of closures and restrictions, as the caseload surges to new heights across a broader swath of the country than before.
NBC News writes that economists had predicted the economy would gain about 440,000 jobs. Friday’s number “represents the fifth straight month of decelerating job gains. It is by far the lowest monthly total since the economy started its halting recovery.”
The surging coronavirus pandemic is squeezing the job market and government relief, stalled for months, may happen but it will be much smaller than needed. Democrats point the finger at Mitch McConnell who they claim has passed up multiple opportunities to pass assistance. Columnist David Brooks of the New York Times writes:
Talks between the moderates and (Senate Majority Leader) McConnell continue. But if McConnell won’t do a deal now, in the midst of a clear crisis and under a Republican president, there certainly won’t be one with more controversial issues under a Democratic president in 2021. If we don’t see a Covid-19 relief measure pass in the next week or two, then our democracy is existentially broken.
If that happens, McConnell should spend Christmas with people thrown out of work and witness the suffering he has caused.