The most recent jobs report suggests the economic recovery will be much faster than many expected. While many predicted a decrease in employment for May, employment actually increased by 3.84 million from April to May. Correspondingly, rather than rising, the total number of unemployed persons fell 2.09 million. The unemployment rate currently stands at 13.3%, down from 14.7% in April and in sharp contrast to the 20% rate many professional forecasters were predicting.
The fast turnaround reflects the gradual lifting of economic restrictions across states and reduced fears of consumers, workers, and business owners, who have a better understanding of the risks of COVID-19 than they did in mid-March when the slowdown in activity began.
more:
https://www.thedailyfodder.com/2020/06/the-recovery-has-begun-ahead-of-schedule.html
