UNITED STATES−On August 7, 2020, The U.S. Bureau of Labor Statistics (BLS) reported that improvements in the labor market reflected the continued resumption of economic activity that had been curtailed due to COVID-19.
President Trump’s economy remains steadfast after a 3-month decline. On his Facebook page, President Trump said, “experts indicated that we would lose 7.5 million jobs in may, but we gained 2.5 million.”
According to the July Jobs Report, notable job gains occurred in the areas of; leisure, hospitality, government retail trade, health care, and professional and business services.
On August 13, Graphics DC reporter, Danny Daugherty retweeted a Department of Labor (DOL) that depicts fewer unemployment claims. BLS reports taken from two monthly surveys confirm these statistics by reporting that July unemployment rates declined by 0.9 to 10.2 and the number of unemployed individuals dropped from 1.4 million to 16.3 million.
Just a few weeks ago, it had looked like new claims for unemployment benefits may have stalled out around 1.4M, but now we've seen fewer than a million claims for the first time in almost 5 months. pic.twitter.com/iFBTYP5yIs
— Danny Dougherty (@DannyDougherty) August 13, 2020
According to the 2020 reports cited on President Trump’s Facebook Page, U.S. Stocks are still leading the world. The graph below indicates that Europe, the United Kingdom, Japan, China, and Hong Kong aren’t even close to the U.S. in stocks.
News reports indicate that leading stocks to watch along with Apple and Amazon are what is referred to as FANG stocks; FACEBOOK, NETFLIX, GOOGLE, DDOG, VEEU, DOCU, and NOW.
Another graph depicts how the housing market has rebounded.
The demand for automobiles has increased by 65 percent and is expected to continue its rapid incline.
Factories and manufacturing plants are going full-swing. Reports show the highest reading since October 2018.
According to a press release by Orian Research, global Personal Protection Equipment (PPE) masks market size, specifically, is expected to gain market growth between 2020-2025. Multiple news reports indicate that the sale of hand sanitizer has also had a huge impact on the economy.