{"id":3460,"date":"2020-09-18T11:45:42","date_gmt":"2020-09-18T11:45:42","guid":{"rendered":"http:\/\/lonecandle.com\/?p=3460"},"modified":"2020-09-18T11:45:42","modified_gmt":"2020-09-18T11:45:42","slug":"the-easy-part-of-the-economic-recovery-might-be-over","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=3460","title":{"rendered":"The Easy Part Of The Economic Recovery Might Be Over"},"content":{"rendered":"\n<p>\n\n&#8220;The economy is certainly improving: The August report shows that the labor force participation rate increased a bit and millions more furloughed workers returned to their jobs.<\/p>\n\n\n\n<p>But there are a bunch of clues in this month\u2019s report that the growth we\u2019re seeing now isn\u2019t as robust as it looks, and that it probably isn\u2019t sustainable without a dramatic change in public health conditions:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A significant chunk of the jobs gained in August were added thanks to a once-in-a-decade phenomenon that has nothing to do with the current recession \u2014 a slew of temporary hiring for the U.S. Census.<\/li><li>Private-sector job growth is slowing overall, and the industries that were hit hardest by the pandemic \u2014 like leisure and hospitality \u2014 appear to be stalling out well below their pre-pandemic peak.<\/li><li>Getting people back to work will likely be harder and harder in the coming months, because a growing share of unemployed people have lost their jobs permanently.<\/li><li>The recovery is arriving faster for some groups than others \u2014 which means that workers of color, in particular, are still suffering much higher levels of unemployment than white workers.&#8221;<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-fivethirtyeight\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"8aiak4FHSM\"><a href=\"https:\/\/fivethirtyeight.com\/features\/the-easy-part-of-the-economic-recovery-might-be-over\/\">The Easy Part Of The Economic Recovery Might Be Over<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;The Easy Part Of The Economic Recovery Might Be Over&#8221; &#8212; FiveThirtyEight\" src=\"https:\/\/fivethirtyeight.com\/features\/the-easy-part-of-the-economic-recovery-might-be-over\/embed\/#?secret=ViKzlVhXsM#?secret=8aiak4FHSM\" data-secret=\"8aiak4FHSM\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The economy is certainly improving: The August report shows that the labor force participation rate increased a bit and millions more furloughed workers returned to their jobs.<\/p>\n<p>But there are a bunch of clues in this month\u2019s report that the growth we\u2019re seeing now isn\u2019t as robust as it looks, and that it probably isn\u2019t sustainable without a dramatic change in public health conditions:<\/p>\n<p>A significant chunk of the jobs gained in August were added thanks to a once-in-a-decade phenomenon that has nothing to do with the current recession \u2014 a slew of temporary hiring for the U.S. Census.<\/p>\n<p>Private-sector job growth is slowing overall, and the industries that were hit hardest by the pandemic \u2014 like leisure and hospitality \u2014 appear to be stalling out well below their pre-pandemic peak.<\/p>\n<p>Getting people back to work will likely be harder and harder in the coming months, because a growing share of unemployed people have lost their jobs permanently.<\/p>\n<p>The recovery is arriving faster for some groups than others \u2014 which means that workers of color, in particular, are still suffering much higher levels of unemployment than white workers.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[588,409,483,217,165,271],"class_list":["post-3460","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-corona","tag-coronavirus","tag-covid-19","tag-economics","tag-economy","tag-jobs"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/3460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3460"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/3460\/revisions"}],"predecessor-version":[{"id":3461,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/3460\/revisions\/3461"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}