Saturday, June 6, 2020

Pres Trump: 2.5 million jobs added shows economy is ‘opening with a bang’ and other C-Virus Updates

Mandel Ngan/AFP via Getty Images
President Trump said Friday that “we’re opening with a bang” after surprising economic news that the US added 2.5 million jobs in May as states reopened from coronavirus lockdowns.
“It’s an affirmation of all the work we’ve been doing really for three and a half years, this isn’t just over the last few months,” Trump said in the White House Rose Garden, later adding: “Our body was so powerful that we could actually close our country, save millions of lives.”
The rebound reported by the Bureau of Labor Statistics shows the unemployment rate fell from 14.7 percent in April to 13.3 percent in May.
Experts had expected the jobless rate to be near Great Depression levels around 20 percent as new unemployment insurance claims grew due to widespread government-ordered business closures to prevent the spread of COVID-19.
The Labor Department admitted Friday that it counted 4.9 million furloughed workers as employed, meaning the real unemployment rate would have been 16.1 percent in May. The department, however, used the same counting practice in April, and the rate then would have been more than 19 percent, indicating many people are indeed returning to work.
Some states began allowing a phased return to normal in late April, but companies that furloughed or laid off workers in most places still face strict limitations.
Read the rest of the story HERE and follow links below to related stories and resources:

USA TODAY: Coronavirus news and updates: Economy gains 2.5M jobs; 'superspreaders'; what to expect at the dentist

WSJ: Coronavirus Latest

YAHOO NEWS: Coronavirus live updates: Brazil records big surge as global deaths approach 400,000

NEW YORK POST: Coronavirus Latest

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