Job Losses Show Recovery Slowing

Job losses reported in the September 2020 show the economic recovery from the COVID-19 pandemic’s job has slowed. More than 10 million Americans are unemployed than were in February. “At September’s pace, it would take three years to recover just the jobs lost in the month of April alone,” said House Majority Leader Steny H. Hoyer (MD).

“The key to bringing our economy back is to make it safe for businesses to reopen and for millions to go back to work. As we do so, Congress must continue to provide emergency relief to those who need it. Last night, the House passed another bill to restore the extra $600 a week for those waiting to get back to work, another round of direct payments to Americans, and an extension of the Paycheck Protection Program to help small businesses keep employees on payroll. Our bill also provides funding for state, local, tribal, and territorial governments to keep teachers, first responders, and other public employees on the job.”

House Democrats passed a $2.2 trillion coronavirus relief bill Thursday over intense GOP opposition, suggesting little hope of it passing the Senate. However, bipartisan talks between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued and the spreading of the virus through the White House and Senate may impact the votes.

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