Source: Calculated Risk: Comments on May Employment Report
Economists had forecast an additional loss of 8.3 million jobs in May, and an increase in the official unemployment estimate to 19.5%.
Actual for May: an increase of 2.5 million jobs and unemployment falling to 13.3%. Same for Canada too.
Economists and their computer models were off in space.
Since much of the country had not yet “re-opened” after public health sociopaths flattened the economy, this is a good number. By June, many more areas are re-opening – will be interesting to see the unemployment figures for June.
The main danger is the public health sociopaths went from “Stay Home. Save Lives.” to “Go out and protest and attend super spreader events” which could result in future lock downs as public health sociopaths nonsense messaging actively encourage activities that may kill more people. It may be the intentional goal of the sociopath’s latest directive to create more illness and more economic destruction; the public’s health is certainly not a factor in their latest directive.
We may learn in the next 1-3 weeks that the prohibition on group gatherings never accomplished anything and perhaps huge public gatherings are not super spreader events.
