Trump to hold news conference touting surprising jobless numbers

Jobs are returning as US businesses reopen but will it last

"Now we're opening, and we're opening with a bang".

The U.S. unemployment rate fell to 13.3% in May, with2.5 million jobs gained, the government said on Friday. "I think we're going to have a great few upcoming months", he said.

President Donald Trump immediately cheered the data - once again violating the government rule that prohibits comment on economic data until one hour after release.

The Bureau of Labor Statistics reported that the "motion picture and sound recording" category, which includes film production workers and theater employees, had an unemployment rate of 31.5%, up from 31.3% in April.

And the number of workers on temporary layoff declined by 2.7 million to 15.3 million, in a sign people have been able to return to their jobs.

The jobs market improved considerably in the second half of May as businesses reopened after shuttering in mid-March to slow the spread of COVID-19.


Ian Shepherdson of Pantheon Macroeconomics, one of few who anticipated positive news in the jobs data, called the report, "The biggest payroll surprise in history, by a enormous margin", which he said "likely is due to a wave of hidden rehiring".

"Even as state reopen, claims in the millions are an indicator that the economic pain of the COVID-19 crisis is still acute", Zhao told CNBC.

For the week of May 24-30, 34,575 Ohioans filed initial unemployment claims, according to Ohio Department of Job and Family Services data released Thursday.

Economists polled by Reuters had forecast the unemployment rate jumping to 19.8% in May and payrolls falling by 8 million jobs.

Congressional Democrats have been pushing an addition $3 trillion stimulus package and additional unemployment insurance, and Senate Minority Leader Chuck Schumer said after the numbers came out that it was not a time to be "joyous", saying on MSNBC that without more aid from Washington gains could quickly "evaporate".

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