Experts had expected unemployment in May at 19.7%, but it fell to 13.3%. In April, the US unemployment rate showed the worst result since the Great Depression – 14.7%
I have a question, and against the background of what in May, when the economy opens after quarantine measures, analysts expected unemployment at 19%?
The US unemployment rate unexpectedly fell in May. (indeed, how unexpected)
Compared to April figures (14.7%) last month, it decreased to 13.3%. This is stated in the report of the US Department of Labor.
However, according to the Ministry of Labor, the improvement was uneven: the unemployment rate among the white population showed a record decline, but increased among blacks and Asians. (Naturally, everyone is busy with the destruction of stores, Black life matters, after all 🤷🏻♂️)
One reporter in the United States was sued for saying that EVERY person’s life is important, not just an African American. The best manifestations of demos kratos 🗽
The drop in unemployment came as a surprise as analysts polled by Reuters expected unemployment to hit 19.7% in May and an 8 million drop in jobs.
US President Donald Trump, commenting on the new data on unemployment, said that the country will face “a long period of growth” of the economy. “Great numbers. <...> The positive employment report shows that we did the right thing, ”he said, referring to the relaxation of restrictive measures.
Trump suggested that the next few months will be positive for the US economically. “I didn’t know that the economic recovery would start so quickly. I thought it would start in August and September. It started so early, ”the head of state said, comparing the negative period for the economy with a hurricane, from which the Americans managed to recover“ very quickly ”.
Here is my personal logic refuses to understand this. Isn’t this a special overestimation of negative forecasts in order to surpass them later and give a new reason for the euphoria of the markets?