Economics/Class Relations

Here’s What Double-Digit Unemployment Could Mean for the Election

Notice that the War Street Journal couldn’t care less about what double-digit unemployment could mean for the actual working class. They’re just worried about their dumbass election.

By John McCormick

Wall Street Journal

President Trump and former Vice President Joe Biden are campaigning for the White House in an unusual economic atmosphere for a presidential election: double-digit unemployment.

Since the start of the Great Depression, there have been just three presidential races when the nation faced double-digit joblessness during the final four months of the campaign: 1932, 1936 and 1940.

The 2020 election may join the list. The U.S. economy officially entered a recession in February after the coronavirus pandemic forced many businesses to shut down. Earlier this month, the nonpartisan Congressional Budget Office forecast that the unemployment rate, now 11.1%, will be 10.5% in the fourth quarter when the election is held.



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