Despite doomsday predictions from leading economic forecasters, today’s unemployment report made one thing clear: The U.S. economy is mounting a comeback.
June 5, 2020
Unemployment Report Reveals ‘Resiliency’ of U.S. Economy
Despite doomsday predictions from leading economic forecasters, today’s unemployment report made one thing clear: The U.S. economy is mounting a comeback.
The broadly spread “consensus” projected 7.8 million job losses and a jump in the unemployment rate to 19.5 percent. In reality, 2.5 million jobs were added in May and the unemployment dropped to 13.3 percent.
The industries boasting the strongest comebacks include restaurants, construction, retail, healthcare, and manufacturing. In just one month, 225,000 manufacturing jobs returned.
This data contradicts the claims made by “economic experts” who have vocally criticized President Trump’s efforts to re-open the economy and get American families back to work.