It is, and one month does not a trend make. But any reduction in the expected unemployment rate is better than an unexpected increase.
No one month does not a trend make but the gloom and doom after the FORCED layoffs was bound to quickly reverse when the lock down ended.
You can expect the bigger numbers to be at the beginning of the reversal and smaller as we move on through the year.
This is a gut punch for the Liberals because they depended on an extended recovery with accompanying bad news about how many YEARS it will take for the economy to bounce back.
If we see these numbers next month and for the July report the Administrations prophesy of a record setting GDP number for the 3rd quarter will be realized and at the worst possible times for the Liberals.