The US jobs report for May stunned analysts as nonfarm payrolls rose by 2.5 million versus the expectation of a loss of -7.5 million jobs as reopening of the US economy begins to take place.
Yes, that is correct. NFPs jumped 2.51 MILLION.
On the news of Payroll Protection Protections loans working, the Dow rose almost 1,000 points (or 3.6%).
It is about time state leaders started opening up their economies since about $8 trillion was lost to the economy because of the COVID-19- related shutdown.
The biggest gains in employment? Leisure and hospitality!