Connect with us

Top News

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.

See also  Jorge Jesus one step closer to Fenerbahce: contract details

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. “

See also  The Lincoln Project, explained - Vox

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. “

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top News

Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

More about

#History of Bermuda #A photo #Portuguese

Model: Everybody, Entertainment, Movies/Movies, History, News

Continue Reading

Top News






This is a fact or event of journalistic interest. This may be new or recent information. This also applies to the novelty of an already known situation.


Mostly original text. Expresses the opinion of the author, but not necessarily the opinion of the newspaper. It can be written by journalists or specialists from different fields.


A report that contains unknown facts or episodes with a pronounced denunciatory content. This requires special methods and resources.

Content commerce

Editorial content that offers the reader conditions for making purchases.


This is the interpretation of the news, taking into account information that goes beyond the facts told. It uses data, brings events and scenario forecasts, as well as past contexts.


Analytical text translating the official position of the vehicle in relation to the facts covered.


This is an institutional article on a topic of interest to the company sponsoring the report.

fact checking

Content that confirms the accuracy and authenticity of the disclosed information or facts.


This is an article that brings subsidies, historical data and relevant information to help understand a fact or news.


An exciting report that details the various aspects and developments of this topic. It brings data, statistics, historical context, as well as stories of characters that are affected by or directly related to the topic in question.


A text with detailed analysis and opinions on products, services and works of art in a wide variety of fields such as literature, music, film and visual arts.

Continue Reading

Top News

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

See also  Jorge Jesus one step closer to Fenerbahce: contract details

Continue Reading