WATCH: Trump Celebrates as Jobless Rate Falls To 13.3%

(Undated) — The president is celebrating as the nation’s economy added 2.5 million jobs last month, and the unemployment rate fell to 13.3%.
The stock market spiked in response to the more favorable jobs report.
The numbers reflect a slight recovery of economic activity after two months of free-fall because of the coronavirus pandemic.

This morning’s report from the Labor Department is vastly better than what analysts feared. The experts were forecasting a jobless rate near 20%, which would have been the worst since the Great Depression.

President Trump will hold a news conference at the White House around 10:00 this morning, Eastern time.

He announced the event in a tweet while cheering the new monthly jobs figures. The Labor Department says two and-a-half million jobs were added last month, far exceeding expectations from economic analysts. The unemployment rate fell to 13-point-three percent. It was 14.7% in April.
The numbers reflect a slight recovery of economic activity after two months of free-fall because of the coronavirus pandemic.

Trump tweeted that the numbers are “Really Big” and added — “Great going President Trump (kidding but true)!” Trump also took a political shot at Democrats, saying they are “worried again.” He argued that the “only one that can kill this comeback is Sleepy Joe Biden!” Meantime, the coronavirus outbreak shows no sign of leveling off. The American death rate is now more than 108-thousand. Confirmed cases in the U.S. have exceeded one-point-eight million. The Johns Hopkins Coronavirus Resource Center is tracking the pandemic worldwide.

SHARE