Strong Job Growth, a Terrible Job Market: The Bizarre 2020 Economy

  • Date: 02-Oct-2020
  • Source: The New York Times
  • Sector:Financial Markets
  • Country:GCC
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Strong Job Growth, a Terrible Job Market: The Bizarre 2020 Economy

UpshotAt this rate, it will take 17 months for employment to return to full health.Outside Disneyland Park in Anaheim, Calif., in March. Disney announced this week that it would need to cut 28,000 jobs.  Credit...David Mcnew/Agence France-Presse — Getty ImagesBy Neil IrwinIn a normal time, a month in which employers added 661,000 jobs would represent an absolute blockbuster — the kind of thing an incumbent president could happily promote as evidence his policies were working.These are, of course, not normal times. And the 661,000 positions employers added to their payrolls in September are paltry relative to the 22 million positions slashed in March and April, and relative to the seven-figure monthly job growth experienced from May through August.Indeed, if the rate of September job creation outlined by the Labor Department on