Big Jobs News

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June 5, 2020 8:37 a.m.

Very unexpected jobs news this morning. According to the BLS report out this morning, the economy added 2.5 million jobs in May and the unemployment rate actually ticked down slightly to 13.3%. That’s of course mind-boggling high by any normal standard. But I don’t think anyone expected it to be falling. It’s hard to say what the consensus was but many were expecting that unemployment would at least briefly be over 20%.

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