After the dramatic collapse of the US economy because of the Coronavirus pandemic, there is again a glimmer of hope. The unemployment rate fell from 14.7 percent in the previous month, to 13.3 percent in may, the U.S. government announced on Friday. The number of persons employed outside of agriculture rose accordingly by 2.5 million. The fall in unemployment came as a surprise: The majority of analysts had expected an increase of about 20 percent. The New York benchmark index Dow Jones rose by more than three percent to over 27 000 points.
“The Numbers are incredible,” said President Donald Trump in the garden of the White house in front of journalists. “This is a big step for our Comeback,” he said. The situation on the labour market have improved considerably, although there is in many States still strict Corona pads. The economy will grow soon, such as “a rocket” and the “greatest” in the world, promised to Trump competing in November to a second term. The Corona-crisis is more “like a hurricane” – destructive, but you can recover quickly away, Trump said.
The unemployment rate in may was still on the highest level in decades, and the pandemic is far from over. Experts fear that unemployment itself could be the end of next year, just below the level of ten percent. In February, the US unemployment rate was 3.5 percent, the lowest level in decades.
In may, a large number of employee has been categorized, also, again simply as “absent” from the workplace for other reasons, so neither as employed nor as unemployed. If this would be counted as unemployed, the unemployment rate is over 16 percent.