Donald Trump

Out of context: Reply #4314

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• zarkonite1

  https://www.nytimes.com/2020/06/…

  What to Make of the Rebound in the U.S. Jobs Report

  Many of the gains came in restaurant work as 2.5 million jobs were added in May and the unemployment rate fell to 13.3 percent.
  [...]
  More than half of the month’s job gains — 1.4 million — were in restaurants and bars, many of which received assistance under the government’s Paycheck Protection Program.
  [...]
  The number of workers reporting that they were on a temporary layoff or furlough fell by 2.7 million, a sign that employers are calling back workers. But the number of people reporting they had lost their jobs permanently rose, by about 100,000.

  zarkonite 1Permalink

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  • Misleading. I know several well-educated people in large companies that got canned this week. The reality has yet to come.formed
  • I think mathematically this is an overshoot and you'll see a unemployment steadily increase over time. the demand for services is not at pre-pandemic levels.dorf

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