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Message
Some positive news: 2.5 Million jobs added in May - destroying predictions
Posted on 6/5/20 at 8:36 am
Posted on 6/5/20 at 8:36 am
Unemployment rate dropped significantly.
LINK
It's been a long couple of months for some of you. Hopefully this is a good sign of a recovery and the start of a healthy rebound from the Covid-19 shut down.
LINK
quote:
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.
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.
“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.
It's been a long couple of months for some of you. Hopefully this is a good sign of a recovery and the start of a healthy rebound from the Covid-19 shut down.
This post was edited on 6/5/20 at 8:53 am
13
Posted on 6/5/20 at 8:37 am to member12
Damn. Trump can add jobs during a pandemic and rioting!
Posted on 6/5/20 at 8:37 am to member12
Wow!
I think the projection was a few million lost jobs
I think the projection was a few million lost jobs
Posted on 6/5/20 at 8:37 am to member12
Posted on 6/5/20 at 8:38 am to member12
there will probably close to 10 million jobs added in July when the federal unemployment ends
Posted on 6/5/20 at 8:38 am to member12
Welp....riots finna kick it up a notch tonight baws.
Posted on 6/5/20 at 8:39 am to Salmon
quote:
there will probably close to 10 million jobs added in July when the federal unemployment ends
I'll be annoyed if it gets extended.
Posted on 6/5/20 at 8:39 am to SlidellCajun
Projection was anywhere between 19% and 29%.
This crushed those projections.
This crushed those projections.
Posted on 6/5/20 at 8:40 am to Salmon
no chance it ends dude
Posted on 6/5/20 at 8:40 am to member12
Talking points are about to change again!
Posted on 6/5/20 at 8:41 am to Mr Perfect
quote:
no chance it ends dude
it will end eventually
Posted on 6/5/20 at 8:42 am to Salmon
quote:
there will probably close to 10 million jobs added in July when the federal unemployment ends
I bet they extend those benefits.
Posted on 6/5/20 at 8:43 am to upgrayedd
quote:
I bet they extend those benefits.
Yea I just hope the GOP doesn't cave and extend them into 2021 like the leftists want.
Posted on 6/5/20 at 8:44 am to LSU316
quote:
Yea I just hope the GOP doesn't cave and extend them into 2021 like the leftists want.
They will and the Dems know they will
This post was edited on 6/5/20 at 8:47 am
Posted on 6/5/20 at 8:44 am to LSU316
I'd be shocked if it's not through the end of the year
Posted on 6/5/20 at 8:45 am to Errerrerrwere
quote:
Projection was anywhere between 19% and 29%.
2020: The year projections were wrong.
Posted on 6/5/20 at 8:45 am to member12
What's shocking is this report includes data as of May 12. That's before most states started phase 1. I assume the PPP kept millions off unemployment.
The June report will be off the charts.
The June report will be off the charts.
Posted on 6/5/20 at 8:45 am to member12
PPP doing work with those funds hitting middle of May with the requirement to not file unemployment for 8 weeks.
Interestingly, a giant push was from dentists offices reopening. Crazy times.
Interestingly, a giant push was from dentists offices reopening. Crazy times.
Posted on 6/5/20 at 8:47 am to LSU316
GOP is just going to spend that money on some other bullshite like MRAPs for police departments so I’m down with giving it to the folks on unemployment so they spend it and it ends up in the local economy.
Posted on 6/5/20 at 8:50 am to SlidellCajun
It was. The markets ate reacting very well right now as they anticipated more job losses. Just have a net 0 job gain would have been very positive right now, much less adding 2.5 million
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