Jim Bratten
The jobs report for May is out and establishment economists, with a press hungry to damage Trump, are in stunned disbelief.
A 7.8 million job loss in May, predicted by doom-and-gloom cheerleaders, didn’t happen. “Jobs added” were 3.1 million; 2.5 million in non-farm payrolls.
Leisure and hospitality businesses added 1.24 million jobs and manufacturers added 225,000. The labor force participation rate for May was 60.8%, up from April’s 60.2%.
Unemployment went down to 13.3% from the 14.7% in April, further frustrating Democrats. And the DOW, spurred by the job reports, ran up 829 points on June 5, closing at 27,110.98.
The “V” recovery Trump projected begins, with the greatest month of job growth since 1939. Once more, President Trump was right; economic forecasters and the hate-filled press: wrong.
Mark Vitner, Wells Fargo Senior Economist, commented, “Economic activity bottomed out around the middle of April and has been improving ever since.”
How can Democrats defeat President Trump on November 3 if they cannot suffocate the economy, destroying his biggest achievement? The pandemic didn’t work and neither will racist accusations and violent hatred.
What to do?
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