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".



Latest news

More Info Released on Carl Crawford's Arrest
The incident apparently happened one week before a child and a woman drowned at Crawford's home in Houston. The former Major League Baseball star allegedly eventually unloaded the gun and grabbed her by the neck.

Keanu Reeves and Alex Winter deliver a message to graduating seniors
For those unaware, Bill & Ted's Excellent Adventure setting Bill San Dimas High School actually exists in real life. Galaxy Quest filmmaker Dean Parisot directs a script from Chris Matheson and Ed Solomon .

United target Kai Havertz likened to Zinedine Zidane by his coach
Another factor to consider is whether Leverkusen would even be open to selling with many expecting a high asking-price if they do. We speak constantly with him, his family and his representative.

Kerala elephant death: Who said what about the tragedy
Because of the injuries the elephant could not eat or drink anything for weeks, as per reports. The firecrackers exploded in her mouth when she chomped on the fruit.

YouTube star Jake Paul criminally charged by police after Arizona mall looting
Jake Paul , the brother of Vine star Logan Paul , is making life in his Los Angeles neighborhood quite hard for his neighbors. Paul has been charged with criminal trespassing and unlawful assembly, both misdemeanor charges.

Other news