"The harsh reality is that whoever the president is on January 20 has his work cut out for him," said Beth Ann Bovino, S&P Global chief US economist, in a new report on Monday."While the US is no longer careening toward a depression, labor market data shows the economy mired in a weak recovery, with the unemployment rate still high, at 7.9% -- above or equal to the peak of eight of the past 11 recessions."In fact, the unemployment rate, which peaked at 14.
The first pandemic stimulus package added a supplemental $600 per week in jobless aid, but that expired at the end of July.Republicans have proposed a $1.8 trillion package.InfrastructureFormer Vice President Joe Biden and President Donald Trump actually have similar ideas for trade and infrastructure, according to the S&P report. Both the President and his challenger have promised infrastructure investments, which could create jobs and boost the economy.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: Variety - 🏆 108. / 63 Read more »