Photo: Keith Srakocic Associated Press
Almost 2.5 million jobs have been created in the United States in may, when the analysts were waiting for the 8.5 million jobs lost.
Beating all forecasts, unemployment has started to decline in the United States in may, when the observers saw it fly away, offering a breath of fresh air to Donald Trump, who is facing a historic movement events and anti-racism to many, many critics from all sides.
President Donald Trump immediately autocongratulé of this decline-surprise, praising on Twitter a ” report on the job really great. Great president Trump (I’m kidding, but it is true) “.
The unemployment rate fell to 13.3% in may, while the most pessimistic analysts saw nearly 20 %, due to the pandemic of COVID-19, according to data released Friday by the department of Labor. In only two months, that rate had climbed as never before, from 3.5% in February, its lowest level for 50 years, 14.7% in April, its highest for 80 years.
It is the unemployment rate in the United States in the month of may. The most pessimistic analysts were predicting that it would reach almost 20 %.
In may, 2.5 million jobs have been created, when analysts were expecting 8.5 million jobs lost.
The re-openings of shops and restaurants that have started in some States in the month of may have led to the first world economy to recover. The employment situation is improved in the sectors of leisure and hospitality, construction, education and health services, as well as in the retail trade. On the other hand, it has deteriorated in the administration.
The employment situation should continue to improve, because the Americans who enroll in unemployment each week a little less numerous than the previous one. They were less than two million in the past week, for the first time since the crisis of the COVID-19 has severely hit the economy of the country in mid-march. However, this is ten times higher than before the pandemic. “During the same week last year, 220 000 applications had been filed,” reports the independent economist Joel Naroff.
The GDP of the world’s largest economy could fall by 20 or 30 % annual rate in the second quarter, after having declined by 4.8 % in the first three months of the year.