The US’s labor market made an unexpected recovery in May, with jobs rising by 2.5 million after a drop of 20.5 million in April, the biggest in history. The unemployment rate fell to 13.3% from 14.7%, defying the forecasts of specialists that it would reach 19%.
The US President Donald Trump said those numbers should encourage governors to speed up the lifting of restrictions imposed to stop the spread of the coronavirus.
“I don’t know why they continue the lockdown”, he said. “Those states that are more active in ‘opening up’ are doing a great job”.
The economic recovery, he said, “is much better than V”, referring to the debate over whether the recovery will be V-shaped (i.e. as sharp as the drop) or if it will last longer.
“It is a stunner by any stretch of the imagination!”, Trump wrote on Twitter about the unemployment report.