Name: Andrew Yang Warns 42% of Lost Jobs Won't Return, US Facing 'Two Times the Great Recession - Permanently'
Brand: mediaite.com
SKU: mediaite-com-18
Availability: OnlineOnly

critic

Andrew Yang Warns 42% of Lost Jobs Won't Return, US Facing 'Two Times the Great Recession - Permanently'

preview

America’s economy is “teetering into a new Great Depression,” former Democratic presidential candidate Andrew Yang warned Thursday. He added the country is facing the prospect that nearly half of jobs lost during the coronavirus pandemic will not return.“We have to face facts that 42 percent of these jobs will not come back,” Yang said in an interview on CNN. “You’re looking at, essentially, long-standing or permanent job loss of 15 million-plus. And for reference, the Great Recession cost us less than 9 million jobs. So you’re looking at something almost two times the Great Recession — permanently.”Yang was commenting on Labor Department employment figures released Thursday that found 2.4 million Americans filed new unemployment claims last week. That figure brings the total number of unemployment claims filed since the coronavirus pandemic began to 38.6 million. Unemployment is expected to reach around 20 percent by the end of May, compared to 25 percent during the Great Depression.Researchers from the University of Chicago’s Becker Friedman Institute this month that 42 percent of jobs lost during the pandemic will not return due to a combination of companies going bankrupt and stagnant consumer spending.Yang’s nonprofit, Humanity Forward, is spearheading an initiative to provide 20,000 “microgrants” worth $250 in direct cash assistance to individuals. Yang prominently advocated for a universal basic income program during his campaign in the amount of $1,000 monthly for working-age Americans.He added that the federal government needed to pass “enormous stimulus measures” to prevent the economy from “teetering into a new Great Depression,” saying, “Unfortunately we’re going through 10 years’ worth of change in 10 weeks. The trends I was concerned about, people being sent home because their jobs were going to be automated away, we are experiencing a version of that. I’m optimistic, at least, that we can accelerate some of the solutions as well as the problems.”Watch above via CNN.Have a tip we should know?Filed Under:Please enable JavaScript to view theTips.You may also like:

America’s economy is “teetering into a new Great Depression,” former Democratic presidential candidate Andrew Yang warned Thursday. He added the country is facing the prospect that nearly half of jobs lost during the coronavirus pandemic will not return.“We have to face facts that 42 percent of these jobs will not come back,” Yang said in an interview on CNN. “You’re looking at, essentially, long-standing or permanent job loss of 15 million-plus. And for reference, the Great Recession cost us less than 9 million jobs. So you’re looking at something almost two times the Great Recession —...

public

rudy-takala

News and opinion about print, online, and broadcast media.

mediaite.com

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

Andrew Yang Warns 42% of Lost Jobs Won't Return, US Facing 'Two Times the Great Recession - Permanently'

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS