- The news sent stocks skyrocketing
- The Trump Administration did not waste any time announcing the great news
- However, Chuck Schumer, Nancy Pelosi, and other democrats pouted that the economy is still in trouble and the unexpected high job numbers and lower than expected unemployment rate announced today is a fluke
- The Democrats do not have much time before the November 2020 election
- Democrats are trying to get any negative news that can hurt President Trump from winning
- Today’s 4.8 million jobs news has surprised everyone, especially the media
- The unemployment rate is now at 11.1%, far lower than the 20% to 30% unemployment rate forecasted a few weeks ago
In this breaking news article, we will discuss and cover how the June 2020 Jobs Numbers Show Promising Economic Recovery.
June 2020 Jobs Numbers Far Exceeds Expectations
Today’s June 2020 Jobs Numbers far exceeded expectations.
- For two months in a row, job numbers have far exceeded economists’ expectations
- In May, 2.5 million new jobs were created
- May 2020 job expectations were forecasted at 7.5 million jobs lost
- However, May 2020 numbers came in at 2.5 million jobs gained
- June 2020 jobs numbers of 4.8 million jobs created shocked Wall Street, economists, and consumers
- The unemployment rate fell to 11.1% which many analysts forecasted unemployment to exceed 20% to 30% by year’s end
- The nonfarm payroll numbers of 4.8 million far exceeded analysts’ forecast of 2.9 million jobs
- The unemployment rate for June can in at 11.1% which is far lower than the 12.4% forecast
- Workers on temporary layoffs fell by 4.8 million in June to 10.6 million after a decrease of 2.7 million in May
- As the U.S. economy keeps on reopening, the economy is expected to recover far faster than expected
The Dow Jones Industrial Average skyrocketed more than 400 points at the open today.
What Experts Are Saying Of Today’s Great Jobs Report And Unemployment Numbers
Jammi Cash of Gustan Cho Associates follows the securities and treasuries markets.
The leisure and hospitality sectors accounted for the largest increase in job numbers. The industry saw a jump of 2.1 million job gains which accounts for 40% of June 2020 job numbers. Critics and many Democrats who are hoping for an economic downturn in order to defeat President Trump in November 2020 said the job numbers in the hospitality industry will decline substantially in the coming weeks. Democrats blame the surge in positive coronavirus results and reopened states ordering bars and indoor seating at restaurants to close until further notice.
June 2020 Jobs Numbers: Unemployment Numbers Come In At 11.1%
June 2020 saw a large decrease in temporary layoff numbers. This contributed to the lower than expected 11.1% unemployment rate. Permanent job loss numbers increased by 588,000 to 2.883 million workers. This is the highest number reported in six years.
President Trump predicts manufacturing will be skyrocketing due to his trade policies. He predicts that due to his trade policy, manufacturing jobs overseas are going to be back to the United States. Regardless, today’s job report numbers are hands down a great signal that the coronavirus economic recovery is going to far exceed expectations. It may be the fastest economic recovery in world history. Mortgage loan applications are increasing every week. There is no housing crisis from the looks of things. The housing market has been stronger than ever. The housing market is stronger now than it was prior to the coronavirus outbreak in February 2020.
