Trump’s celebrated economic rebound fizzles out

The U.S. added 661,000 jobs in September, a performance that ordinarily would be seen as stellar. But it was well below expectations for close to 1 million and represents a further slowdown in monthly job growth from the initial 4.8 million gained back in June and leaves the economy over 10 million short of restoring the 22 million jobs lost to the Covid-19 pandemic. The jobless rate dropped half a percentage point to 7.9%…

The rebound is also heavily tilted toward higher-income Americans and those with more education, along with investors buoyed by the strong bounce back on Wall Street.

In boasting about the raw numbers, as he does over and over, Trump risks sounding out of touch with the experience of the over 26 million Americans still receiving some type of unemployment insurance, particularly blue-collar workers he badly needs in the industrial Midwest and Florida.