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The unemployment rate fell to 13.3% in May amid a decline in coronavirus



April unemployment rate in California 15.5%; 2.3 million jobs lost

The government reported on Friday that the unemployment rate fell to 13.3% last month after surging to 14.7% in April, an unexpected positive change that suggested a recession caused by a pandemic might have hit rock bottom.

Most analysts expect the rate to continue to rise, perhaps as high as 20%.

But on the contrary, employers also added 2.5 million jobs in May after losing 20.7 million positions in the previous month, according to the Bureau of Labor Statistics.

“We will return and we will open our country,” President Trump said in a hastily arranged appearance on Friday at the White House Rose Garden. He urged countries to continue to loosen coronavirus restrictions.

Democrats note that the country is still suffering from the biggest unemployment crisis since the Great Depression.

“And Trump said he was happy?” said Tom Perez, chairman of the Democratic National Committee. “Families are struggling. The hospital is overwhelmed. Business has been closed forever. And Americans are dying every day – all this can be prevented. “

Unemployment and employment statistics in California for May will be released in two weeks and will likely follow the country’s rebound, largely due to a mix of industries and the fact that it is slower to lift business restrictions and restrictions. The state unemployment rate in April was 15.5%.

The increase reflects the reopening of business in many parts of the country, and it was a big surprise for analysts.

The average economist expects another loss of around 7.5 million jobs in May, according to Moody’s Analysis.

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Moody’s labor economist Sophia Koropeckyj notes that the collection rate for the survey of domestic work and salaries – from which unemployment and employment figures are derived – is lower than normal.

And government statisticians say the actual unemployment rate in May might be 3 percentage points higher because many people might have misclassified themselves by saying they are absent from work, even though they were laid off and should be counted as unemployment.

Although the report provides good news, most mainstream economists worry that the recovery will be long and slow.

“Reflection starts again earlier than expected, but don’t get too excited about this one month’s data,” said Nick Bunker, director of research at Indeed Hiring Lab. “Job growth rose by 2.5 million and the unemployment rate fell by more than a percentage point is a positive development. But it is not clear how this will last long. In addition, the labor market is still in a terrible place with jobs only 87% of the places before the coronavirus crisis began. “

No matter how quickly or fully America opens its doors to business again, many analysts say, a full recovery is expected to take at least three to five years. If a second large wave of infection occurs in the fall, as epidemiologists say in at least in some parts of the country, the prospect can become darker.

“The hole we are in is very deep,” said Heidi Shierholz, former chief economist at the US Department of Labor and now with the Institute for Economic Policy. “Even if you get a quick reflection back, it can still be bad. I think it will be long. “

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Before Friday’s report, David Shulman, a senior UCLA economist, said he expected May to be the lowest point of the recession. “Now it looks like April is the basis,” he said.

Shulman said he and his colleagues at UCLA Anderson Forecast are now likely to revise their views, to be released June 24. Earlier he said unemployment for the country and nation was likely to remain in double digits until 2022. “That might be off the table,” he said.

At the same time, Shulman and other economists said the latest jobs report appeared to be inconsistent with government data showing more than 31 million people received unemployment benefits in May. “So do 10 million people receive salaries from employers and collect unemployment benefits as well?” asked Christopher Rupkey, chief financial economist at MUFG Bank in New York.

What’s more, last week’s national protest was just a complicated matter, with economic uncertainty created by damage to businesses and the potential increase in COVID-19 infections as a result of people leaving social distance in mass demonstrations.

Stephen Moore, a member of President Trump’s economic task force, also predicted the increasing economic suffering as a result of protests: “These riots are making a new round in all respects. That’s bad from an economic perspective. Right when the business starts to reopen and we start making a little progress – then boom! – we got hit by this. “

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PRR. Banco do Fomento invites companies to offer new financial instruments – Observer



PRR.  Banco do Fomento invites companies to offer new financial instruments – Observer

Banco Português de Fomento started a public consultation this Friday aiming to receive contributions to launch new instruments under the Recovery and Resilience Plan (PRR) which still has 475 million euros.

In a statement, the organization stressed that it intends to invite companies and all stakeholders to participate in public consultations on “future capital and quasi-capital decisions.”

According to PRR, Banco Português de Fomento (BPF) has been cast in “structuring and distribution of capital decisions and quasi-equity capital of a total of €1,425 million under the Capitalization and Business Innovation component of the PRR.

The Belarusian Popular Front still has 475 million euros to launch new programs, the organization’s press release emphasizes.

The public consultation is aimed at soliciting contributions under “the terms of two pre-structured financial instruments designed to encourage company formation and/or capitalization of businesses, primarily in the start-up phases”, “Venture Capital Program” (an instrument that assumes a fund structure of funds)” and “The Deal Co-investment Program (an instrument that takes the form of direct investment in companies, always in co-investment with private investors)”.


“These tool proposals are aimed at facilitating market entry and growth/expansion of viable companies through the development new products/services or markets and strengthening and professionalization of personnel, including the management team,” the BNF press release further emphasizes.

The public consultation is also aimed at obtaining “other proposals for new capital and quasi-capital solutions in accordance with the terms of the aforementioned capitalization funds, which are considered relevant and necessary because they are considered unavailable at the time, or existing conditions that prevent access and use.”

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Ana Carvalho, CEO of BPF, emphasized that these public consultations “are aimed at building an open dialogue with all actors of the business ecosystem, with to improve workflows and identify market failuresand the most appropriate solutions to overcome them.”

“Although we are actively in contact with various associations and institutions, this public comment allows all interested parties to participate, especially potential beneficiaries and partners involved in these measures,” he added, quoted in a press release.

All information and technical descriptions of the two pre-structured products are available on the Banco Português de Fomento website at the link

Suggestions or offers must be submitted online for a thorough assessment by the Belarusian Popular Front until 18:00 on December 19, this body further explained.

The mission of Banco Português de Fomento is to support the economic and social development of Portugal by creating and providing innovative, competitive and appropriate solutions to the needs and challenges of the business ecosystem, enhancing entrepreneurial potential, investment and job creation, and promoting sustainability and economic, social and territorial cohesion of the country.

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FESTin returns to distribute Portuguese-language cinema worldwide | Cinema



FESTin returns to distribute Portuguese-language cinema worldwide |  Cinema

For the 13th edition, FESTin’s mission remains the same: “Bring cinema in Portuguese to the whole world.” So says co-director Adriana Niemeyer by phone with PÚBLICO on the eve of the start of the film festival, which starts this Friday and runs until next week, ending on Wednesday the 14th at LX Factory at 7:00 pm, in Espaço Talante, inside the bookstore Ler Devagar , with a screening of four Brazilian short films chosen by Antonio Grassi, the actor in charge of the space, followed by a toast.

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VARIOUS. Portuguese project that wears a shirt for mental health



VARIOUS.  Portuguese project that wears a shirt for mental health

Little phrases with big meaning sometimes fit into T-shirtright now in bag da Ivory, a project that began in the year of the pandemic and has been interventionally warning about mental health issues ever since.

Francisco Soares Ganzo, the founder, first suffered a panic attack when he was in 10th grade, but ended up not paying much attention to signs that something was wrong. Then the mental health problem reappeared later, at a different stage in life and with different symptoms.

“Four years ago, I started experiencing constant anxiety, to the point that I couldn’t sleep,” says 25-year-old Francisco Versa. “Basically, I put a lot of pressure on myself from the women with whom I had relationships. It was Wednesday masculinity, competition,” he continues.

Early adulthood began with this “almost obsession to be with women” and get the best. performanceto the point where he became very anxious whenever he had sexual relations with a woman.

“The peak was when I couldn’t sleep. My brain was always on and I started taking pills to help me sleep,” says Francisco.

In 2019, he decided to see a therapist rather than a psychologist because he thought it was only “for wimps”, but it wasn’t, and Francisco later figured it out.

Today, he wants to convey the same message, and to do so, he created the Ivory project in 2020, consisting of clothes and accessories with special messages that form a bridge to the necessary incentive for those in need of help.

“When I finally worked up the courage to ask for help, I was like, ‘Wow, I wish I had started sooner. That’s why I started this project. I lacked something that would motivate me to go to therapy earlier. clothes are meant to spread information,” he says.

But Ivory goes far beyond what is written in sweatshirts and accessories.

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Help that comes in order

“Everyone you know is fighting a battle you know nothing about.”

This is one of the messages recorded in t-shirts e sweats from ivory. It’s simple and affects everyone in their own way, but the focus of the Ivory team – also with a past or present marked by mental health issues – is not the phrases on the T-shirts, but what follows them.

“To say that mental health is talked about a lot is a lie. What I mean? When I hear the news that companies are very concerned about mental health or that it has become fashionable with COVID-19, it is all a lie. What people say is vague. Nobody tells stories. A person who is really bad, like I was, does not need to hear that he should go to the gym or eat well. He needs to hear a story like this.” .

Ivory’s next step is to create a space for sharing testimonies through Appendixjust to address this shortcoming. Until then, the project intends to function as anxiety And further to support in the field of mental health.

“For every order we have, a person receives Email mail to make an appointment. Because our goal is to really open doors, to do something that I didn’t have, ”says Francisco. “I feel like a lot of people buy ivory because they’re in bad condition, but they don’t want to take the next step to take care of themselves.”

If encouragement is not enough, an ivory sweater will be cozy and Email mail gives you the push you need to make an appointment with one of Ivory’s psychologists. All it takes is an Instagram post or an email.

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Sweaters and bags 100% organic cotton and mobile phone cases with phrases coined by Francisco Soares Ganzo and designs created by the whole team can be ordered at website.

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