Friday, May 8, 2020
Today there is a wealth of statistics being released including the ones that I have compiled here. The official unemployment rate increased from 4.4% in March 2020 to 14.7% in April 2020. The unofficial rate (which some call the true unemployment rate) rose from 8.7% in March to 22.8% in April. The official rate counts people who are unemployed and are looking for work. The unofficial rate includes those who have given up looking for full time work and those who are underemployed (including myself).
Undoubtedly, the political campaigns are going over these numbers to see how they can gain an advantage over the other. As of today, Joe Biden has a 4.4% advantage in the Real Clear Politics poll average over Donald Trump. On this date four years ago (May 8), Hillary Clinton had a 6.5% advantage over Trump in the same poll average. On the same date four years ago Bernie, Sanders had a 13.4% advantage over Trump in the RCP average. At the time Sanders dropped out of the race on April 7, he had a 4.2% advantage over Trump in the RCP average. On the same day, Biden had a 6.1% advantage over Trump.
It may be to early to say what impact Tara Reade's allegations have had on the Trump-Biden race. Both candidates have lost support in recent weeks as can be seen above. At the beginning of April, Trump's overall approval rating reached its highest point at 47.4% in the RCP average. It has since fallen to 44.6% which is close to where it was before the pandemic started.
I stay away from making predictions, especially this far out. Anything is possible in the next few months. The crisis has given the administration cover on the economy. They can blame it on the virus. Both sides will demonize China. Pennsylvania Governor Wolf has announced that