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Tue Jun 9, 2020, 07:59 PM

STOCK MARKET WATCH - Wednesday, 10 June 2020

STOCK MARKET WATCH, Wednesday, 10 June 2020

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SMW for 9 June 2020


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Reply STOCK MARKET WATCH - Wednesday, 10 June 2020 (Original post)
Tansy_Gold Jun 9 OP
progree Jun 9 #1

Response to Tansy_Gold (Original post)

Tue Jun 9, 2020, 08:31 PM

1. Black unemployment rate went up, up to highest since 1980s with exception of matching the

March 2010 housing crash peak value. White UR dropped 1.8 percentage points from April to May to 74% of the black rate (12.4/16.8)

Donald Trump says he hopes George Floyd, who was killed by police on Memorial Day after an officer forced his knee on the back of his neck for nearly nine minutes while facing the ground in handcuffs, is "looking down right now" and saying today is a "great thing that's happening for our country" as the nation's unemployment rate declined but remains higher than during the Great Recession.

The president said: "Hopefully George is looking down right now and saying, 'This is a great thing that's happening for our country. It's a great day for him, it's a great day for everybody. It's a great day for everybody. This is a great, great day."

Asked how the rate of unemployment among black Americans can be considered a "victory" as it continues to increase, the president told a reporter outside the White House, "You are really something."

# Black unemployment rate https://data.bls.gov/timeseries/LNS14000006
First 5 months of 2020: 6.0, 5.8, 6.7, 16.7, 16.8 Trump in 2016: "what have you got to lose?"

# White unemployment rate https://data.bls.gov/timeseries/LNS14000003
First 5 months of 2020: 3.1, 3.1, 4.0, 14.2, 12.4

(and by the way, none of the above have been corrected for the "about 3 percentage point" error that the BLS admits to in its overall unemployment rate (see #19 ). So if these were corrected, they would all be higher in March, April, and May. In particular, the May black UR would almost certainly beat its housing crash peak (but not likely the early 1980s peak).

BTW, the corrected overall unemployment rates for April and May are "almost 19.7% and "about 16.3%" rather than the 14.7% and 13.3% official numbers)

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