Unemployment drops to 13.3% in May as economy adds 2.5M jobs

Fox Business ^ | 6/5/2020 | Megan Henney

[DEPcom]

I do not think we shut the businesses all the way down in SC. Our restaurants found ways to still do some business. They started up the curb hop service, place you order and pick up in the parking lot.

SC did not shut down until the last min, then started back up quickly. I think the States that got hurt the worst are the ones who close to late (New York) or too early then reopen to late.

[Brown Deer]

Nasdaq hits record high as U.S. economy shows signs of rebound
5 June 2020

(Reuters) - The Nasdaq Composite <.IXIC> on Friday became the first of the three major U.S. stock indexes to bounce back to a record high, recovering from a stunning coronavirus-led slump on growing hopes of a swift economic rebound.

Closing at a record high, according to a widely accepted definition, would confirm that the Nasdaq Composite has been in a new bull market since its pandemic low on March 23.

[Freee-dame]

“Unexpectedly” is used for bad financial reports when a Democrat is in the White House. When a Republican is in the White House “unexpectedly” is used for good financial reports.

[Chgogal]

Trump’s Green Shoots vs. Obama/Biden’s Green Shoots!

https://www.huffpost.com/entry/obamas-economic-crisis-te_b_228218

Ah yes, I remember that well.

[Dave W]

Read the summary below on the numbers. It may give you a better perspective - it's quite interesting.

https://www.bls.gov/news.release/empsit.nr0.htm

[Vendome]

Thnx

Feeling better after reading the whole report

[NELSON111]

Funny. Not one mention here about the error in the unemployment report.

Not one. Crazy. Hmmm...I wonder why?

"When the U.S. government's official jobs report for May came out on Friday, it included a note at the bottom saying there had been a major "error" and the unemployment rate likely should be higher than the widely report 13.3 percent rate.

"The special note said that if this misclassification error had not occurred, the "overall unemployment rate would have been about 3 percentage points higher than reported," meaning the unemployment rate would be about 16.3 percent for May."

Had this happened during Obama - people here would be screaming "MANIPULATION!" But - we don't do that any longer. WE trust the government now. lol

[Eleutheria5]

The stock market says it’s real.

[madison10]

Some businesses closed, but some new ones popped up and people bought items for staying at home, like home playground equipment, or bar b q grills. Grocery stores boomed, not only because they were open, but because more people were cooking at home.

Home food delivery businesses had trouble keeping up business was (and is) so good.

[I want the USA back]

The media choked on it and minimized it by saying that Black unemployment went up. (It went up .1 %, or x .001).

[Calif Conservative]

Q1 showed negative GDP

Q2 is incomplete

BEA aka Bureau of Economic Research officially designates recessions including their start and end dates