Newsletter Subject

This ugly jobs report is just the beginning

From

bloombergview.com

Email Address

noreply@mail.bloombergview.com

Sent On

Fri, May 8, 2020 08:52 PM

Email Preheader Text

Follow Us //link.mail.bloombergbusiness.com/click/20262712.47690/aHR0cHM6Ly90d2l0dGVyLmNvbS9ib3Bpbml

[Bloomberg]( Follow Us //link.mail.bloombergbusiness.com/click/20262712.47690/aHR0cHM6Ly90d2l0dGVyLmNvbS9ib3Bpbmlvbg/582c8673566a94262a8b49bdB5d156c0b This is Bloomberg Opinion Today, an unemployment claim of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - We’re gonna need [a bigger stimulus round](. - Women are [bearing the brunt]( of the economic pain. - Amazing what extensive [coronavirus testing reveals](. - Netflix now [rules the entertainment industry](. Dark times. Photographer: JOHANNES EISELE/AFP/Getty Images This Is What Economic Collapse Looks Like Some things are intensely awful no matter how much you prepare for them, such as jumping into icy water or listening to Nickelback. Today’s jobs report was like that. Unemployment [soared]( to 14.7% in April, the highest rate since the Great Depression. A record 20.5 million people lost their jobs, making all the employment growth of a decade-long expansion go *poof* in a month. We’d seen this coming; weekly unemployment claims have shown 33.5 million people losing jobs in seven weeks. Wall Street expected worse, in fact, and is already looking ahead to some imaginary recovery (or [new Fed rescue operation](, as Mohamed-El-Erian writes), so stocks naturally [soared](, which should at least keep makers of pitchforks and guillotines employed. But the numbers are still unspeakably awful and will keep getting worse; the report’s survey period was in mid-April and didn’t catch nearly all the misery. Most of the job losses are temporary for now, but that can’t last much longer. What’s clear is that the trillions of dollars Congress and President Donald Trump and the Fed have [poured into the economy so far won’t nearly be enough](, Bloomberg’s editorial board writes. Many of these programs expire in early summer, when we’ll likely still be suffering depression-level economic pain. Weirdly, [neither Congress nor the president seems all that energized]( about loading another round into the Stimulus Cannon, notes Jonathan Bernstein. Trump’s approach to the economic disaster, and the coronavirus pandemic that started it, lately seems based on the assumption that ignoring a problem will make it magically go away. This is highly relatable, but no way to run a country. Trump’s answer for now is rushing to reopen states from pandemic shutdowns that clearly aren’t [ready](. This does have the benefit of [saving some states a few bucks on unemployment payments](, notes Noah Smith. Some have threatened workers they’ll lose benefits if they don’t return to dangerous jobs, in fact. But this won’t help the economy and could even make things much worse by stretching out the pandemic, the lockdowns and the job losses. That’s the last thing we want; at least ice baths and Nickelback songs are over relatively quickly. Bonus Job-Pain Chart: Only warehouses, where all the stuff we’re buying now is stored, hired substantially in April, notes Justin Fox. Other [essential industries were slashing jobs](: Sponsored Content by Masterworks With $65B/yr in sales, it’s no wonder that so many high-profile CEOs and founders invest in art. With big data, only one company is positioned to capitalize using a revolutionary fractional ownership concept that lets you buy and sell shares just like stocks. Act fast and [skip the 25,000+ waitlist](.  Women Bear the Brunt One of the freakiest features of April’s jobs report was that average hourly wage growth jumped. This isn’t what you’d expect in a nascent depression! But it was unfortunately just a sign of how much the layoffs were concentrated in low-wage jobs. Like the pandemic itself, the economic pain is [targeting America’s most vulnerable populations, particularly women](, write Elaine He and Nicole Torres, with a series of infuriating charts. More women are considered essential workers than men, but they’re also losing jobs at a faster rate: At the same time, they’re also more likely to be single parents of out-of-school kids, and they do more of the housework than their housebound husbands. Read the [whole thing](. Testing, Testing, Testing None of this economic misery will abate until the country gets its Covid-19 outbreak under control, and a key to doing that will be adequate testing. As you may have heard, we still don’t have it. Last month, Michael Lewis [wrote]( about how the Chan Zuckerberg Biohub in San Francisco built a coronavirus-testing juggernaut, only to see it stall due to a shortage of basic materials such as swabs to jab up patients’ noses. The [lab has since scrounged up the needed equipment](, with no help from the federal government. It recently tested hundreds of samples from one San Francisco neighborhood, and the results are already adding to our understanding of the disease. That the lab was able to test at all owes to a handful of people finagling swabs from China. Somehow America, the richest country in the world, has been unable to make such simple things as swabs and protective gear in sufficient numbers. This is because we [long ago stopped building communities of manufacturing]( know-how, writes Dan Wang. Silicon Valley is the last example of such a place in this country. America must build many more of these if it hopes to be able to build stuff again. Meanwhile, the U.S. government is using a [secret FEMA algorithm to tell states when they should reopen](, writes Cathy O’Neil. This meets all of Cathy’s tests of whether an algorithm is dangerous: It’s important, secret and destructive. It’s certainly not an example of American problem-solving know-how. Telltale Charts This one chart from Tara Lachapelle [says everything about the entertainment industry]( these days: Netflix Inc. is bulletproof, while everybody else is hurting from a lack of sports, advertising and content production. You might want to sit down for this, but risk managers [haven’t been doing so great at managing risk](, writes Ben Schott. Further Reading Even in an unusually bad time, [General Electric Co.’s numbers stand out]( as being particularly bad. — Brooke Sutherland Shutdowns have been a boon to Amazon.com Inc., but [Shopify Inc. and other rivals are gaining ground](. — Tae Kim Justice is [finally served for Michael Flynn](. — Eli Lake Iraq is still a basket case, and [its unlucky new prime minister’s best hope]( is for new elections. — Bobby Ghosh Russia has been increasingly provoking the U.S. and its allies. A [flotilla sent to northern waters is meant to push back](. — James Stavridis Argentina has handled the pandemic well, and it also has [a chance to put off a debt reckoning](. — Mac Margolis ICYMI Mike Pence’s [press secretary tested positive]( for Covid-19. She’s married to Stephen Miller. Internet giants are telling staff to plan to [work from home all year](. Oil’s crash [busted Interactive Brokers’ computers](, wallets. Kickers Deepfake music is [now so good it might be illegal](. (h/t Scott Kominers) Scientists develop a [plasma thruster that could fly planes](. Roomba inventor says [don’t fear the robot](. How “Mad Men” became the [perfect pandemic binge-watch](. Note: Please send deepfakes and complaints to Mark Gongloff at mgongloff1@bloomberg.net. [Sign up here]( and follow us on [Twitter]( and [Facebook](.  Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](.  You received this message because you are subscribed to Bloomberg's Bloomberg Opinion Today newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022

Marketing emails from bloombergview.com

View More
Sent On

21/07/2024

Sent On

20/07/2024

Sent On

19/07/2024

Sent On

18/07/2024

Sent On

17/07/2024

Sent On

16/07/2024

Email Content Statistics

Subscribe Now

Subject Line Length

Data shows that subject lines with 6 to 10 words generated 21 percent higher open rate.

Subscribe Now

Average in this category

Subscribe Now

Number of Words

The more words in the content, the more time the user will need to spend reading. Get straight to the point with catchy short phrases and interesting photos and graphics.

Subscribe Now

Average in this category

Subscribe Now

Number of Images

More images or large images might cause the email to load slower. Aim for a balance of words and images.

Subscribe Now

Average in this category

Subscribe Now

Time to Read

Longer reading time requires more attention and patience from users. Aim for short phrases and catchy keywords.

Subscribe Now

Average in this category

Subscribe Now

Predicted open rate

Subscribe Now

Spam Score

Spam score is determined by a large number of checks performed on the content of the email. For the best delivery results, it is advised to lower your spam score as much as possible.

Subscribe Now

Flesch reading score

Flesch reading score measures how complex a text is. The lower the score, the more difficult the text is to read. The Flesch readability score uses the average length of your sentences (measured by the number of words) and the average number of syllables per word in an equation to calculate the reading ease. Text with a very high Flesch reading ease score (about 100) is straightforward and easy to read, with short sentences and no words of more than two syllables. Usually, a reading ease score of 60-70 is considered acceptable/normal for web copy.

Subscribe Now

Technologies

What powers this email? Every email we receive is parsed to determine the sending ESP and any additional email technologies used.

Subscribe Now

Email Size (not include images)

Font Used

No. Font Name
Subscribe Now

Copyright © 2019–2025 SimilarMail.