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trpmb6
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Joined: Thu Apr 19, 2018 5:45 pm

A Glimmer Of Hope

Fri Jun 05, 2020 1:49 pm

May's US jobs report showed an increase of 2.5 Million non-farm payrolls - it was expected May would show a drop of 8.8 million. Mostly attributed to the recall of people classified as "temporarily laid off" and primarily in the hospitality and leisure industries.

https://www.cnbc.com/2020/06/05/jobs-re ... -2020.html

While this may technically be the largest single monthly jobs increase, I wouldn't really brag about that. This is simply getting people back to work.

Let's hope this continues and we do not see a resurgence of covid19.
 
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einsteinboricua
Posts: 8355
Joined: Thu Apr 15, 2010 4:11 pm

Re: A Glimmer Of Hope

Fri Jun 05, 2020 1:57 pm

trpmb6 wrote:
While this may technically be the largest single monthly jobs increase, I wouldn't really brag about that. This is simply getting people back to work.

Oh you know how this will go. I would not be surprised if the Twitterer in Chief promotes this at a rally or even on Twitter. Heck, wouldn't be surprised if he were to somehow connect the protests to the numbers (by saying that the number could be higher if it weren't for the protests).

If the economy truly bottomed out in May and will begin recovering, it's quite likely that it'll be a slow recovery. States that are reopening are seeing increased covid cases which will make those still locked down or slowly reopening double down on extending restrictions until guidelines are improved.
"You haven't seen a tree until you've seen its shadow from the sky."
 
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casinterest
Posts: 11264
Joined: Sat Feb 12, 2005 5:30 am

Re: A Glimmer Of Hope

Fri Jun 05, 2020 2:03 pm

It's something ,but it is a drop in the bucket compared to the 15.4 million that lost jobs in March-April.

With the partial re-openings, it is good to see jobs gained, but remember many businesses are on life support through July. After that, things could get ugly without a change in Covid-19 treatments.
Where ever you go, there you are.
 
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Francoflier
Posts: 5262
Joined: Wed Oct 31, 2001 12:27 pm

Re: A Glimmer Of Hope

Fri Jun 05, 2020 3:13 pm

Quick drops in the value of anything - stock values, jobs, currencies, production, etc - are usually followed by a rebound after they hit 'rock bottom'.
This is somewhat expected, although I don't know whether this is happening faster than initially thought.

The real indicator will be how long it takes for jobs and other economic indicators to reach their pre-Covid levels. This may take a while yet, but hopefully, and barring any further catastrophe in this absolute calamity of a year, things will head back the right way soon enough.
Sovereign debt will become an issue for many countries however, especially the US which was already suffering from a runaway debt scenario... Maybe it's time for the World to go for a Worldwide round of pardoning.
I'll do my own airline. With Blackjack. And hookers. In fact, forget the airline.
 
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Aaron747
Posts: 11915
Joined: Thu Aug 07, 2003 2:07 am

Re: A Glimmer Of Hope

Fri Jun 05, 2020 3:16 pm

Francoflier wrote:
Quick drops in the value of anything - stock values, jobs, currencies, production, etc - are usually followed by a rebound after they hit 'rock bottom'.
This is somewhat expected, although I don't know whether this is happening faster than initially thought.

The real indicator will be how long it takes for jobs and other economic indicators to reach their pre-Covid levels. This may take a while yet, but hopefully, and barring any further catastrophe in this absolute calamity of a year, things will head back the right way soon enough.
Sovereign debt will become an issue for many countries however, especially the US which was already suffering from a runaway debt scenario... Maybe it's time for the World to go for a Worldwide round of pardoning.


I have advocated this for a long time - sit the bankers down and say ‘look guys, you’ve had a good run, it’s time for some write-downs. We’re setting the sovereign debt clock back to zero so everyong gets a fresh start’
If you need someone to blame / throw a rock in the air / you'll hit someone guilty

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