Unemployment Rate Dropped Down to 13-1/2%!

• Yes, it just defies all the highly intelligent market forecasters. More jobs added in one month than ever in history. A month ago all the main stream media was drooling on the expected bad economy numbers, when you shut down the whole country. This great unemployment rate is without New York City and Los Angeles, because they are still being forced to stay closed under some kind of insanity that is ruling the democrat party. Go ahead please democrats, and keep on doing it.

"America’s labor market defied forecasts for a Depression-style surge in unemployment by rebounding in May, signaling the economy is picking up faster than anticipated from the coronavirus-inflicted recession.

A broad gauge of payrolls rose by 2.5 million, trouncing forecasts for a sharp decline following a 20.7 million tumble the prior month that was the largest in records back to 1939, according to Labor Department data Friday. The jobless rate fell to 13.3% from 14.7%....."

“Clearly the labor market turned the corner in late April, early May. We’re seeing a rebound of labor-market activity,” said Michael Englund, chief economist at Action Economics, who had estimated a payrolls decline of 2 million, the second-closest estimate. He expects June economic and labor-market data to show further improvements and plans to revise up his forecast for second-quarter gross domestic product.

https://finance.yahoo.com/news/u-jobless-rate-unexpectedly-fell-123601431.html

 

Many are going to be very disappointed that our economy is not collapsing!

 

Yea - Trump's unemployment is only 3.5% higher than Obama's worst day in office at the hight of the Great Recession! Let's all go celebrate!

 

When people look and look and look, and then they give up looking for a job, they’re taken off the rolls, so the number isn’t reflective. I’ve seen numbers of 24 percent, I actually saw a number of 42 percent unemployment—42 percent. And it could be.

 

You had your chance to completely tank the MAGA economy with your lockdown hoax, lefties, but you just had to go and throw a riot, and kill your own strategy.

COVID is cancelled. Time to get back to work, clean up the mess the rioting lefties made, and get the economy cranking again.

 

Different events that cause the temporary unemployment rate to begin with. Different outcomes should be expected.

A large number of people expected to return to their jobs, but during the closures, needed unemployment.

During the 2008 fiasco, people didn't have jobs to return to.

I am sure the unemployment numbers will continue to decline, as the country opens back up.

 

A surefire way to stick it to Trump is not to go back to work, lefties.

Stay in your parent's basement.

#Resist

 

The difference is this was caused by the Chinese Virus, and Trump's quick response to slow the spread. Obama's double digit unemployment was cause by he and the Dem Congresses horrible economic policies.

What we are seeing is just what smart folks saw coming due to the strong economy the GOP put into place before teh Chinese Virus....we are seeing a quick bounce back. Great stuff....this is also happening with the assault on America by the left wing terrorist as well.

 

Ultimate goal. Otherwise, why would they be so happy that it is high? Do they hate their fellow man so much?

Rhetorical.

 

Good news. But we won’t know the full story of job losses until we open everything up 100%.

 

The black and hispanic unemployment rates will still be dropping. Then they will ignore them again. For the first time a reporter actually mentioned the black unemployment rate to President Trump this morning, because it had risen 1 percent! Why can't they be happy about progress? They are not for real progress. In the mean time, yeah...it's good, and it'll get better.

 

Who is happy that it’s high?

 

Haha, after reading the good news this morning, I knew that the MAGA, thank you Trump threads wouldn't be far behind.

When jobs are lost: Covid, China's, Dem's, fault
When jobs are gained: All hail Trump

Must be pretty simple, intellectually, to live in Trump land.

 

Trump had to deal with a pandemic.....what was obama's excuse?

 

I never paid any attention to the gloom and doom unemployment hoopla. It is just Trump hating media trying to spin the pandemic.

 

You don't think the unemployment report is something to celebrate? Did the government shutdown business by order when Obama was in office?

 

The LFPR improved too.

 

And the leftist just can't stand it...................

 

They had jobs to begin with!?!?!?!?!

 

I think it's fantastic that unemployment is dropping ... just want to be realistic about the numbers. They suck.

If unemployment had gone from 5% to 13.55 in the last year of Obama's term, you would have said -

A) It's not his fault.
B) The buck stops with Obama. He has to take responsibility.

Don't lie.

 

Can’t stand double digit unemployment? Yah, it sucks. Why are you cheering it?

 

This lefty never stopped working, I just started doing it from home.

 

You obviously didn't get the memo. When there is good news to report, Trump takes all responsibility for it and his adorers cheer him and call him the greatest being since Jesus Christ.
When there is bad news to report, Trump takes no responsibility and blames everyone else for it while his adores lap it up and think he is still the greatest being since Jesus Christ.

 

Oh, maybe Obama's excuse was the greatest recession since the great depression? I know, I know, the great recession was actually the Dem's fault, even if they had no power throughout most of the GWB years. Just ask our friend @Bluesguy.

 

This one too . Of course, if you listen to Trump fans, lefties don't work.