Is The U.S. Economy Roaring Back? - Hallo friendsTODAY'S NEWS AND ACCREDITED, In the article you read this time with the title Is The U.S. Economy Roaring Back?, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article BANKING, Article CULTURE, Article ECONOMIC, Article HOTELS, Article POLITICAL, Article SOCIAL, Article SPORTS, Article TOURISTS, Article TRAVELING, We write this you can understand. Alright, good read.

Title : Is The U.S. Economy Roaring Back?
link : Is The U.S. Economy Roaring Back?

Is The U.S. Economy Roaring Back?

Reuters: U.S. labor market unexpectedly improves in May

WASHINGTON (Reuters) - The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.

The Labor Department’s closely watched employment report on Friday also showed the jobless rate falling to 13.3% last month from 14.7% in April, a post World War Two high. It came on the heels of surveys showing consumer confidence, manufacturing and services industries stabilizing.

Economic conditions have significantly improved as businesses reopened after shuttering in mid-March to slow the spread of COVID-19.

Nonfarm payrolls rose by 2.509 million jobs last month after a record plunge of 20.687 million in April. Economists polled by Reuters had forecast the unemployment rate jumping to 19.8% in May and payrolls falling by 8 million jobs.

Read more ....

More News On Last Months Job Numbers

US shocks economists by adding 2.5 million jobs in May as unemployment declines to 13.3% -- Business Insider
Unemployment rate falls to 13.3%, US adds 2.5 million jobs (AP)
Dow spikes 700 points after jobs-report shocker shows unemployment rate dropped in May (Market Insider)

WNU Editor: Every economist was predicting doom and gloom, with massive job losses expected with this report. Even the media this morning were posting stories that the employment numbers were a disaster even before the jobs report was released .... US unemployment rate during May shot up to almost 20%, a new post WWII record forcing another 8million out of work, figures expected to show today (Daily Mail). They were all wrong. Even I did not expect this .... Nonfarm payrolls rose by 2.509 million jobs last month after a record plunge of 20.687 million in April. Economists polled by Reuters had forecast the unemployment rate jumping to 19.8% in May and payrolls falling by 8 million jobs.

Many of my American readers are always telling me to never underestimate the U.S. and what the U.S. is capable of doing. They stand vindicated with this jobs report. And the U.S. is not the only country showing an improvement. Canada (where I live) also showed the same tremendous job growth, but unlike the US the official unemployment rate in Canada rose to 13.7 per cent .... Bouncing back? Canada added 290,000 jobs in May (CBC) I still expect a long recovery, but these are very encouraging numbers.

Update: He should be touting this .... Trump touts surprise job figures: 'These numbers are incredible' (The Hill).

Thus Article Is The U.S. Economy Roaring Back?

That's an article Is The U.S. Economy Roaring Back? This time, hopefully can give benefits to all of you. well, see you in posting other articles.

You are now reading the article Is The U.S. Economy Roaring Back? with the link address https://todaysand.blogspot.com/2020/06/is-us-economy-roaring-back.html

Tweet

Subscribe to receive free email updates: