VIRTUAL NWSOFA Indivisible September Fiscal and Economic Issues Meeting
September 21 @ 7:00 pm - 9:00 pm
|When:||Tuesday, September 21, 7:00 PM|
The NWSOFA Fiscal and Economic Issues group will meet VIRTUALLY on Tuesday, September 21st at 7 pm. The Zoom room will open by 6:50 pm. Come join us and share your thoughts.
The US is currently recovering from the deepest downturn since the Great Depression of the 1930’s with 5.3 million fewer jobs than last February as of the August employment report. The recovery faltered at the end of 2020, but is regaining momentum this year after passage of $900 billion in assistance in December and another $1.9 trillion in March. Job gains in February (536,000), March (785,000), April (269,000), May (614,000), June (938,000), and July (943,000) were an improvement over the job losses of 306,000 in December. Unfortunately we only added 235,000 jobs in August. Over four million jobs added in seven months.
The big risk is the debt ceiling, which may create a crisis in October if Congress does not raise it.
It will be interesting to see how the return to in-person learning combined with a cutoff of federal UI benefits affects job and GDP growth over the next few months.
We will also discuss inflation and why the numbers so far don’t look troublesome, as well as forecasts for future GDP growth and inflation.
You can view a copy of August’s PowerPoint presentation at https://docs.google.com/presentation/d/1kYyIahXEKHRATjXS3r9bFjzR-iu6wGiq/edit?usp=sharing&ouid=118152796039843164051&rtpof=true&sd=true
You can view a video of our June meeting at:
Our meetings get posted to https://www.youtube.com/channel/UCiw8EhKA-e2l3_gM9FVYX2g/videos
Link to event information: https://us02web.zoom.us/j/82859573341?pwd=bE14dFE2azJpSy8wYUZOV2RGNkpPdz09