Your Daily Roundup for June 11th

Good morning. As the COVID-19 pandemic takes a toll on life in America, our team at Future Majority is tracking the latest updates:

1.5 million more Americans lost their jobs last week:

The economic blows keep on coming. 1.5 million more Americans filed for unemployment benefits last week, and an additional 700,000 workers not eligible for state unemployment benefits filed claims for Pandemic Unemployment Assistance. 20.9 million Americans collected state unemployment benefits in the last week of May.

The Fed Chair warned that economic distress could last for years:

Jerome Powell said that millions of workers might not go back to their old job for years to come, as well over 40 million Americans were out of work. After making significant gains, the stock market took a tumble, with the S&P 500 dropping 3%.

Trump’s job approval continues to reach new lows:

A new Gallup bi-weekly survey is out this week, and it shows President Trump’s job approval has dipped below 40%:

• Approve: 39%
• Disapprove: 57%

This is the same survey that found his approval at 49% just two months ago. 

On his handling of the economy, his approval dropped below 50%, the first time since November 2017. His economic approval was as high as 63% in January:

• Approve: 47%
• Disapprove: 51%

A new Politico/Morning Consult poll finds the same trend in Trump’s job approval, where he currently is net 19 points negative:

• Approve: 39%
• Disapprove: 58%