US unemployment declines to 13.3% as economy restores 2.5m jobs in May
Latest tally follows the loss of 20m jobs in April when unemployment hit 14.7%, as US economy continues to reel from impact of Covid-19
https://www.theguardian.com/business/2020/jun/05/us-unemployment-may-great-depression-job-loss#img-1
Covid-19’s devastating assault on the US economy waned in May as the unemployment rate dipped to 13.3% and the US regained 2.5m jobs.
The surprise news follows the loss of 20m jobs in April, when unemployment hit 14.7%. Economists had been expecting a rise to as high as 20%. Stock markets in the US and Europe rose sharply on the news as investors bet on a quick recovery.
President Donald Trump celebrated the news at a press conference claiming it was proof the US economy was on the road to recovery. “This is better than a V,” Trump said of the shape of the country’s recovery curve. “This is a rocket ship.”
The unemployment rate remains still historically high, up from just 3.5% in February. A decade’s worth of gains made in the labor market since the last recession have been erased in just three months.
https://www.theguardian.com/business/2020/jun/05/us-unemployment-may-great-depression-job-loss
-snip-
The headline figures do not show the full picture. A broader measure of unemployment which counts workers who have given up looking for a job and part-time workers who are seeking full-time employment paints an even bleaker picture of the situation. The measure – known as U6 – was 7% in February before the pandemic hit the US. Last month it was 21.2%.
U6.........
https://www.bls.gov/news.release/empsit.t15.htm
And the ponizi scheme is going thru the roof today and the U6 says otherwise, and the fascist is running up to Maine, what exactly and I missing here.................
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