"The harsh reality is that whoever the president is on January 20 has his work cut out for him," said Beth Ann Bovino, S&P Global chief US economist, in a new report on Monday."While the US is no longer careening toward a depression, labor market data shows the economy mired in a weak recovery, with the unemployment rate still high, at 7.9% -- above or equal to the peak of eight of the past 11 recessions."In fact, the unemployment rate, which peaked at 14.
The first pandemic stimulus package added a supplemental $600 per week in jobless aid, but that expired at the end of July.Republicans have proposed a $1.8 trillion package.InfrastructureFormer Vice President Joe Biden and President Donald Trump actually have similar ideas for trade and infrastructure, according to the S&P report. Both the President and his challenger have promised infrastructure investments, which could create jobs and boost the economy.
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