NBC News, no friend of the President,
reports employment numbers from the
Bureau of Labor Statistics.
The U.S. economy gained 2.5 million jobs in May and the unemployment rate dropped to 13.3 percent. That’s down from 14.7 percent in April, according to the monthly employment report released Friday by the Bureau of Labor Statistics.
Considering the impact of the corona virus shutdowns, that is excellent news indeed.
CNBC adds:
Economists surveyed by Dow Jones had been expecting payrolls to drop by 8.33 million and the unemployment rate to rise to 19.5% from April’s 14.7%. If Wall Street expectations had been accurate, it would have been the worst figure since the Great Depression.
As it turned out, May’s numbers showed the U.S. may well be on the road to recovery after its fastest plunge in history.
Let’s hope these numbers hold up, and the trend continues in June.
