The Democrats were counting on 8 million more jobs lost not a gain of 2.5 million. Americans want to work. If only the Democrat authoritarians will let us.
Good news for Americans means bad news for Democrats, the party of misery.
President @realDonaldTrump will hold a news conference this morning at the White House.
— The White House (@WhiteHouse) June 5, 2020
Unemployment rate drops to 13.3% in May, signaling return of US jobs
Economists surveyed by Refinitiv expected the report to show that unemployment rose to 19.8 percent in May
By Megan Henney, FOX Business
Labor secretary on coronavirus recovery: US has opportunity to return ‘millions’ of jobs in next few weeks
Labor Secretary Eugene Scalia on jobless claims numbers, extending the Payroll Protection Program and reopening the US amid coronavirus.
The U.S. unemployment rate unexpectedly dropped to 13.3 percent in May, down from a record high in April, indicating the nation’s economy is recovering faster than expected from the coronavirus lockdown.
The Labor Department said in its Friday report that employers added a stunning 2.5 million jobs in May — the biggest increase on record. The economy shed a combined 22.1 million jobs in April and March, meaning there are an estimated 21 million Americans currently out of work.
Stocks in this Article
Economists surveyed by Refinitiv expected the report, conducted in mid-May, to show that unemployment rose to 19.8 percent in May and that employers shed 8 million jobs. If the expectation had been accurate, it would have been the worst figure since the Great Depression.
Sign up for Visible and get your first month of new phone service for $25. That includes unlimited data on Verizon’s 4G LTE Network. Pretty sweet, huh? Terms apply.
“Barring a second surge of Covid-19, the overall U.S. economy may have turned a corner, as evidenced by the surprise job gains today, even though it still remains to be seen exactly what the new normal will look like,” said Tony Bedikian, head of global markets at Citizens Bank.
The jobless rate dropped from 14.7 percent in April, which was the highest level ever since record-keeping began in 1948. The surprise decline, combined with the surge in jobs, suggests the worst is over for the nation’s economy as states ease stay-at-home guidelines and businesses bring back staff.
Have a tip we should know? Your anonymity is NEVER compromised. Email firstname.lastname@example.org
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.
Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute here.
Make a monthly commitment to support The Geller Report – choose the option that suits you best.