While the numbers still reflect enormous levels of American unemployment, the jobless rate improved from the dramatic 14.7% in April, which was the worst rate since monthly record keeping began in 1948. The US economy added 2.5 million jobs in May, after 20.7 million positions vanished in April.
Economists had expected the unemployment rate to be even worse in May, rising to nearly 20%. But the gradual reopening of the economy actually added new jobs rather than eliminating further positions.
"Really Big Jobs Report. Great going President Trump (kidding but true)!" Trump tweeted moments after the numbers came out, quoting praise from Fox Business personalities calling the report "AMAZING," "INCREDIBLE," "stupendous," and "a stunner" in subsequent tweets.
The good news in the jobs report comes as the nation faces social unrest during economic and health crises. In one sign of systemic inequality, black unemployment, at 16.8%, remains significantly higher than white unemployment, at 12.4%.
While many Americans have looked inward at injustice in the country, Trump has spent part of his morning retweeting more than 100 times from more than 25 Republican senators. Those retweets come one day after he vowed to campaign for literally any Republican candidate -- "good or bad" -- "with a pulse" against Alaska Sen. Lisa Murkowski, who has been critical of him. Also on Thursday, Trump tweeted a letter from his lawyer that referred to the protesters forcibly dispersed near the White House ahead of a photo opportunity as "terrorists."
The White House is fortified ahead of a second weekend of expected protests, with a new layer of fencing the Secret Service says will be up through June 10.
Business - Latest - Google News
June 05, 2020 at 09:24PM
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Trump declares victory as US unemployment drops to 13.3% - CNN
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