Jobs Numbers Much Better Than Expected in May

 The U.S. economy added 2.5 million jobs in May, according to the latest Labor Department's job report, and the unemployment rate dipped to 13.3% from 14.7% in April.

Today’s numbers surprised many economists and investors: most expected that May’s unemployment rate would actually rise to around 20%, with job losses close to 9 million - a difference of over 11 million jobs.

“It’s a big day for our country,” Trump said. “It’s an affirmation of all the work we’ve been doing.”

Trump encouraged governors to reopen state economies, and criticized those that have kept lock-down orders in place. “I don’t know why they continue to lock down,” he said.

He noted that Friday’s better-than-expected numbers came even with significant portions of the American economy still closed, and suggested the idea that the federal government could still spend more to aid the recovery.

9 views0 comments