Friday, June 5, 2020

Take on the job report

The May job report came out and and it was shockingly less shitty than expected. Granted it's still like 8% higher than when Trump took office but it did come down off of last months highs. I always root for good job numbers, no matter which President so was hoot to see the economy maybe coming back. Sadly the Washington Post reporter that the job numbers were inflated and that the unemployment numbers are likely much higher And closer to 20% bases mainly on the fact that there seems to not really be an accurate category for furloughed.
Anyway, there are millions out of work and as the economy opens up we will likely find ourselves in a deep recession. So the chances of these job numbers really improving in the next few months is slim and as companies lay people off once their PPP money runs out, we will see the real effects of the economy.

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