Trump's recession has a greater jobs deficit than at worst point of all previous postwar recessions.

Thankfully the new administration will steer the economy to a place quite unlike the disaster that Trump had pointed the nation.

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Long-term unemployment is up 2.32 million since Sept – the largest 3 month increase since data was first kept in 1948. Long-term UE causes the most lasting human pain & economic harm. Another reason to focus not on debt, but bold relief & job creation to speed full employment. https://t.co/xQhNoxH7kt— Gene Sperling (@genebsperling) December 4, 2020

The jobs hole remains very, very deep. Today, the U.S. economy still has a greater jobs deficit than was the case at the very worst point of every previous postwar recession, including the Great Recession pic.twitter.com/jYH1AUqBsV

— Catherine Rampell (@crampell) December 4, 2020

the 43rd straight week of the worst job losses in American history. In the worst week of the Great Recession, we lost 665,000 jobs.

U.S. employers added 245,000 jobs in November. But that still leaves a gap of 9.8 million jobs since before the pandemic, a hole bigger than in the worst of the Great Recession. And progress is slowing. pic.twitter.com/9hdPojAjGz

— Ben Casselman (@bencasselman) December 4, 2020

US jobless claims remain high at 712,000 as virus escalateshttps://t.co/bwkFGJ6Fgw

— Zeke Miller (@ZekeJMiller) December 3, 2020

mitch mcconnell will happily engineer a recession if it will win him and his party a few elections in 2022 https://t.co/rDsy6xgAoF

— b-boy bouiebaisse (@jbouie) December 4, 2020

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Many top economists say the US can — and should — spend more $$ right now.

They argue:
a) Economy needs stimulus
b) It's super cheap to borrow
c) US needs to make long-term investments in infrastructure, education, etc https://t.co/dCFWiwJ2pg

— Heather Long (@byHeatherLong) December 2, 2020

A lengthy global recession looms as a result of #COVID19, with no country “immune”.

But economies such as China will fare better than much of the West, according to a study by @KamiarMohaddes: https://t.co/4d6wJOsyZD @CambridgeJBS #economics

— Cambridge University (@Cambridge_Uni) December 2, 2020

“#Nordic countries are ‘class-based’ yet fairly equal. #Taiwan and #Slovakia are closest to classless and low inequality societies,” say @MarcoRanaldi_ & @BrankoMilan #EconTwitter https://t.co/IraHPAj5cN pic.twitter.com/rGWAq2w4OO

— VoxEU (@voxeu) December 4, 2020

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