Unemployment rate dropped to 13.3% as economy gained 2.5M jobs in May

[Origanalist]

Of course it's not new. But the "job creation" budget has never been remotely close what it is now. It's pretty much guaranteed to end in hyperinflation.

Oh, no doubt. Not looking forward to it one bit.

 

[devil21]

My SO said that it was probably a bounce from businesses rehiring laid off employees to clear the 8 week headcount requirement of the original PPP program, required for the loan to be forgiven. The original CARES Act was passed March 27 and the first round of loans was quickly depleted. 8 weeks would have been up for first borrowers around June 1. This made sense to me and she was in charge of securing some PPP loans for her organization. So while the numbers may have some legitimacy, it wasn't from organic growth or "reopening" but rather from the official headcount requirement of the PPP. Nothing stopping the borrowers from not giving them hours and then firing them again after the loan is forgiven.