Jun 5th 2020 Jobs Day Megathread Economics

Jun 5th 2020 Jobs Day Megathread
Robert Shapiro claims unemployment numbers are off by around eight million people, or almost 6 percent
A ‘misclassification error’ made the May unemployment rate look better than it is.
How the U.S. dollar’s ‘almost silent slide’ is juicing the stock-market rally
May job gains biggest ever at 2.2m; unemployment at 13.3% vs. 19% forecast
How Much Can the U.S. Congress Resist Political Money? A Quantitative Assessment. For every $100,000 that Democratic representatives received from finance, the odds they would break with their party’s majority support for the Dodd-Frank legislation increased by 13.9 percent.
Black unemployment is at least twice as high as white unemployment at the national level and in 14 states and the District of Columbia | Economic Policy Institute
America's unemployment rate falls to 13.3% as economy posts surprise job gains
U.K. Finds That Green Business Is Good Business: With a boom in wind power and a drop in carbon-dioxide emissions, the island nation has found success in clean energy.
American retailers have laid off or furloughed one-fifth of their workers: Worse may be yet to come
There’s A Boom In Homebuying As Unemployment Soars - Forty-two million people have filed for unemployment. But last week applications for mortgages on new homes were up 17.5% compared to a year ago.
Spain rekindles a radical idea: a Europe-wide minimum income | Podemos leader enlists Portugal and Italy to lobby for policy as depression looms for coronavirus-ravaged southern Europe
Reddit co-founder Ohanian resigns from board, urges black replacement
Oil prices rise to three-month high ahead of OPEC meeting
U.S. will allow Chinese passenger carriers two flights per week
How pandemics past and present fuel the rise of mega-corporations
The recovery from the coronavirus sure looks V-shaped
The Economic Pain That the Unemployment Rate Leaves Out
‘Sharpest compression’ of economy in a lifetime on the way, Ibec warns
Hedge funds brace for ‘severe rupture’ in markets as valuations diverge from fundamentals
The owner of the Golden Nugget says casinos and eateries aren’t bouncing back. Why America should open back up sooner than later.
The Pandemic Led to ‘One of the Greatest Wealth Transfers in History.’

Jun 5th 2020 Jobs Day Megathread

Posted: 05 Jun 2020 06:23 AM PDT

Official BLS Press Release: https://www.bls.gov/news.release/empsit.nr0.htm

Total nonfarm payroll employment rose by 2.5 million in May, and the unemployment rate declined to 13.3 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it. In May, employment rose sharply in leisure and hospitality, construction, education and health services, and retail trade. By contrast, employment in government continued to decline sharply.

submitted by /u/Uptons_BJs
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Robert Shapiro claims unemployment numbers are off by around eight million people, or almost 6 percent

Posted: 05 Jun 2020 02:15 PM PDT

submitted by /u/MagicJasoni
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A ‘misclassification error’ made the May unemployment rate look better than it is.

Posted: 05 Jun 2020 07:33 PM PDT

submitted by /u/canoe_
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How the U.S. dollar’s ‘almost silent slide’ is juicing the stock-market rally

Posted: 05 Jun 2020 01:04 PM PDT

submitted by /u/PowHaus
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May job gains biggest ever at 2.2m; unemployment at 13.3% vs. 19% forecast

Posted: 05 Jun 2020 05:48 AM PDT