Stunning Bounce – May Jobs Gains of 2.5 Million Shocks Everyone…

Jumpin’ ju-ju bones, it’s raining winnamins ! ~ Analysts and economists were predicting May jobs report would show losses of around 7 to 8 million jobs in May.  That’s what everyone suspected, and why they were stunned this morning to find out the U.S. economy actually added, yes ADDED, 2.5 million jobs.

The Bureau of Labor and Statistics released the good news data earlier today and shocked everyone. However, the results are really not that surprising when you think about how successful the Paycheck Protection Program (PPP) was.  First this video is funny:

.

[BLS RELEASE] – […] Total nonfarm payroll employment increased by 2.5 million in May, reflecting a limited resumption of economic activity that had been curtailed due to the coronavirus pandemic and efforts to contain it.

  • In May, employment in leisure and hospitality increased by 1.2 million, following losses of 7.5 million in April and 743,000 in March.
  • Construction employment increased by 464,000 in May, gaining back almost half of April’s decline (-995,000).
  • Employment increased by 424,000 in education and health services in May, after a decrease of 2.6 million in April.
  • In May, employment in retail trade rose by 368,000, after a loss of 2.3 million in April.
  • Employment increased in the other services industry in May (+272,000), following a decline of 1.3 million in April.
  • In May, manufacturing employment rose by 225,000, with gains about evenly split between the durable and nondurable goods components.
  • Professional and business services added 127,000 jobs in May, after shedding 2.2 million jobs in April.
  • Financial activities added 33,000 jobs over the month, following a loss of 264,000 jobs in April.
  • Wholesale trade employment was up by 21,000 in May, largely reflecting job gains in its nondurable goods component (+13,000).  (link)

“Today’s report shows much higher job creation and lower unemployment than expected, reflecting that the re-opening of the economy in May was earlier, and more robust, than projected. Millions of Americans are still out of work, and the Department remains focused on bringing Americans safely back to work and helping States deliver unemployment benefits to those who need them. However, it appears the worst of the coronavirus’s impact on the nation’s job markets is behind us.”

~ Labor Secretary Eugene Scalia

The small business PPP program was designed to keep U.S. workers attached to their employers.  The treasury funds became grants if the funds were used to cover payroll expenses and retain the employees within the business.

If the business did not retain or rehire their employees they would have to pay back the treasury under the terms of the PPP fund.   That PPP rule was a massive incentive to re-hire anyone who was laid-off in the first several weeks of the shutdown.

I would suggest the majority of the re-hires, the jobs data that is shocking everyone today, is actually from small/medium businesses and directly relates to the way Treasury Secretary Mnuchin put the funding mechanism together by using the FDIC network.

Great plan.  Great execution. Great results.

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This entry was posted in Big Government, Big Stupid Government, CDC, Coronavirus, Donald Trump, Economy, Election 2020, President Trump, Uncategorized and tagged , , , , . Bookmark the permalink.

285 Responses to Stunning Bounce – May Jobs Gains of 2.5 Million Shocks Everyone…

  1. fanbeav says:

    Excellent new ad that should be shown 24/7. Democrats will now claim “racisom”.

    Liked by 26 people

  2. fred5678 says:

    Buy stock in Home Depot and plate glass companies. Sad, but true.
    90% of construction boom will be DIY store owners.

    And will employers be anxious to re-hire any workers who they find out were looting and rampaging???

    Liked by 6 people

    • bertdilbert says:

      I have made bank on buying HD and LOW early on in the crisis. They are probably out of nails and plywood. My longshot Carnival Corp came in today so when I logged on this morning it was absolutely raining money. After being cooped up in their homes and dealing with the riots, everybody is going to want a cruise lol.

      Liked by 2 people

    • Dutchman says:

      Poor George did a # of things, unintended consequences.
      Firstly, puts a nail in the China Flu continueing shutdown foolishness.

      The visuals of seeing the masses crowds of looters not social distancing, committing crimes while police stand idle, contrasted with visuals of police arresting lone kayakers and surfers is just to stark to be ignored.

      Secondly, the very States and municipalities that were insisting on maintaining the lockdown, in order to supress economic activity, in order to hurt PDJT,….

      Are the very same places where the rioting and looting was worst…..and the net effect is going to be as those areas open up, construction will boom as stores are rebuilt, windows replaced, etc. and of coarse stores will need to restock.

      Economics is mostly about looking at aggregate #’s,…I abhor the looting and violence against individuals.

      But economically there IS a boost in economic activity, after a hurricane; repairing, rebuilding and restocking.

      Remember these #’s that have that gals eyes doing a roger rabbit boing,..are a MONTH OLD, before reopening had really gotten started, and well before hurricane antifa hit.
      By November, the economy is going to be so off the charts, they are going to have to create new words to describe it, cause “Unprecedented” is just so overused.
      So, thank you George, your country owes you a debt of gratitude.
      🙂

      Liked by 3 people

      • TarsTarkas says:

        Unfortunately the money being spent on rebuilding would have been better spent on actually operating businesses. See Bastiat’s ‘Parable of the Broken Window’. But still better than leaving burnt empty holes in city blocks.

        Like

      • David M Kitting says:

        Dutch,
        Big difference between an Act of Natures God and man’s willful destruction of property.
        One is preventable(criminal destruction), while one is not(weather).
        The age old ‘brick through a window’ as economic stimulus, merely extrapolated, leads to total destruction of all property as the ultimate economic stimulus. Most people’s capital/wealth is invested in their property/business. Willful destruction(looting, arson,$25T in public debt, etc) of individual capital/wealth simply creates more have nots out of those who have/had.
        The Spirit of America cannot be quenched. That is the truly ‘good news’.

        Like

        • Dutchman says:

          Perhaps its simplistic,…but I suspect if you ask glazier companies in NYC, they will tell you they are doing a LOT of work,…work they wouldn’t be doing, but for the antpanties playing with hammers.

          We can certainly agree that the,Spirit of America cannot be quenched!

          Like

    • sat0422 says:

      I heard from a friend that a news reporter Savannah Guthrie, NBS news, was all set to brag about all the job losses in the upcoming hot report and she was even smirking about what was going to be announced. When the hot report came about, she was quickly replaced with a commercial and then came back to say, well, wasn’t that surprising.
      You can’t trust any street reporter these days, especially smiling women with low cut dresses.

      Like

  3. fanbeav says:

    And here is more video for liberal tears. Biden in his basement and our lion arriving in Maine!

    Liked by 16 people

  4. Cruiser 55 says:

    That baby just cracks me up.

    Liked by 4 people

  5. Marcia says:

    Retired Magistrate here: Got some great news today. After I retired I starting painting again. Won some awards and sold some pieces. Had my artwork in a gallery in Central Ohio. However, several years ago it closed because the gallery did not advertise.

    Today, I visited an antique store in the same area where the gallery was. The place was busy and she was selling. Turns out that the owner really likes my work. About nine weeks ago I had dropped off a painting for her because I thought she would like it. This was right before everything shut down. Since her store has reopened several people wanted to buy the painting so as a result I will be placing my artwork in her store for sale. Didn’t think people would be buying non essential items so soon after things in Ohio opened up again; thankfully, I was wrong!!

    Liked by 28 people

    • Mad Mike says:

      Congrats Marcia!

      Liked by 2 people

    • mikeyboo says:

      Paint a BIG portrait of Pres Trump!

      Liked by 1 person

      • sat0422 says:

        FACT: Just after Obama was elected our poor little school in the backwoods of MS received several of those 11 x 14 portraits of BH Obama. I nearly puked while the people of color and liberals around me “ooohed and awhheeed” about his sexy face. Good God. They did sound like a pack of jackasses.

        Did I take a lot of disrespect when I didn’t join in. Every library in the country was probably required by every liberal principal and school board to have the darn thing framed and hung where the public would know BHO is president and not confuse him with George Washington…remember, that old white guy of privilege.

        I suggest Trump not be so dramatic and just get at least 100 billboards posted in every state that is still a part of our union and include his wife in the picture too. They are less likely to throw eggs as someone so pretty and gracious. After all, she is a survivor of communism.

        Liked by 2 people

    • CNN_sucks says:

      Congrats, Marcia.

      Like

    • StanH says:

      Cool.

      Like

    • H.R. says:

      Great news for you, Marcia.

      Yes, it is a bit surprising to me as well that people are buying across the board and not just the basics. I would have thought buying art and antiques would be a little further down the road, so that’s good news for us, too.

      Like

    • Patience says:

      How wonderful !!!
      >What’s your ‘style’ Marcia?

      Like

  6. Ausonius says:

    Ohio has a new fight about opening the economy: Cedar Point and King’s Island, two of the greatest amusement and roller coaster parks in America, have still not been “allowed” to open by RINO Nanny Stater Gov. DeWine.

    A host of other such parks, often located nearby these parks to glean customers in various ways, are also closed and in bad, sad shape.

    Mrs.Ausonius and I in fact just came back from Lake Erie’s central coast where Cedar Point is located. For miles, an area often literally jammed with 100,000 + visitors was a massive ghost town.

    One dead water-park had a sign saying: OPEN OHIO TOURISM NOW, GOV. DEWINE!

    Many, many small tourist shops have already gone bankrupt. A few were open, but they were the minority. Some restaurants were allowing dine-in customers, which was good, but they are only allowed to have 50% capacity.

    How would RINO DeWine like to be living on half his income, and that includes half the graft he has collected over the years as a secret DEM?

    Apparently Cedar Point and King’s Island and the other parks failed to contribute to DeWine’s bank account this year!

    See:

    https://www.fox19.com/2020/06/05/cedar-point-joins-kings-island-lawsuit-reopen/

    Liked by 2 people

    • Dutchman says:

      So, arrange to have a peaceful demonstration, to protest police brutality and systemic rascism,….AT the parks. The owners will “open up” to afford protesters a safe space.
      People can make volontary contributions to “the cause” as they enter,….first thoughts, but it COULD work?

      Liked by 1 person

      • Ausonius says:

        Great idea, but I have an UPDATE!

        Apparently not wanting to lose a fight in court, RINO DeWine has relented and is now “allowing” the amusement parks, water-parks, zoos, museums, etc. to open by the 19th.

        For some businesses that is still too late. For those who can make it until then, nothing is guaranteed of course. How many people are still “spooked” by the DEADLY VIRUS and refuse to go anywhere much?

        My wife knows a family still hunkered down and afraid to do anything much at all “until a vaccine is invented.”

        Sad, cowardly, disgraceful!

        Liked by 2 people

        • Dutchman says:

          “allowing” grates,…but take what we can get.
          One family is sad, but how many, stuck home with kids, and watching the redicukous spectacle of police arresting lone person on a beach, NOT arresting looters, will figure it out and flood those parks.
          Regrettable than some couldn’t hold out, but its what economists call “creative destruction”, and the demand for those products and services deemed nonessential, is going to go thru the roof, for those that are,able to reopen.
          Those unemployed because their employer went out of business, will quickly find jobs, as new businesses will open, to supply the increased demand.

          Its gonna be raining winnamins, for quite some time…

          Liked by 1 person

        • leavemygunsalone says:

          Yes, I know a few that still believe the virus is gonna get them. Afraid to even go outside for fresh air.

          Liked by 2 people

    • sat0422 says:

      As a member of Life Time Fitness, my grandson will not be allowed to bring one friend a month to swim with him YET!. I was pissed. What about the mental health of children who have been denied school and social activities for months. Now they want them to go swimming alone. What the heck is that virus doing surviving sunshine and chlorine?

      Liked by 2 people

    • vfm#7634 says:

      Yeah, I’ve kept mistaking DeWine for a Democrat.

      Liked by 1 person

    • aisheschayal says:

      I emailed the Cleveland Heights city admin the other day requesting they open the tennis courts and replace the children’s swings. After a couple requests I finally got an answer- “we are still practicing social distancing and will let you know when it is deemed safe”!! They can you know what, bunch of do nothing city employees, probably getting a paycheck during this whole COVID mess for doing nothing. Makes my blood boil!

      Liked by 2 people

      • aisheschayal says:

        Btw, there was a cupcake entrepreneur from Cleveland on Fox today, her store was demolished with one of the riots. She gave a decent interview on Cavuto, My World. Very pretty woman with a lot of grace.

        Liked by 2 people

  7. California Joe says:

    Democrats and news media have to come up with another outrage now that the George Floyd hoax is winding down.

    Liked by 4 people

    • cjzak says:

      Please. I’ve been haunted by that thought the last few days. What other diabolical crisis are they willing to drop on our heads now?

      People need to be very aware about what comes next from these criminal traitors. I always think it can’t be worse and I’m always wrong. They will do anything to break America to their will, even though they all live here too. Somehow they think they will come out in fine shape and only those who oppose their agenda will be harmed. Stupid, dangerous people. I pray the President is well and loyally protected and his family too.

      Like

  8. TwoLaine says:

    How did we end the day, market wise?

    Like

  9. 335blues says:

    Freaking NICE!
    THE 2020 ELECTION CHOICE COULD NOT BE MORE CLEAR!!!
    Republican Party:
    America first
    JOBS for all regardless of race, creed or color!
    Booming economy and optimism
    Low taxes
    Second Amendment = security for you, your family and America
    Strong sealed borders, screening for immigrants

    Marxist Democrat Party:
    America last
    High unemployment
    Crashing economy and pessimism
    High taxes
    Daily attempts to confiscate guns and repeal second amendment
    Open borders, no screening for those entering

    Liked by 4 people

  10. WSB says:

    Did anyone catch that the number of Gubmint jobs DECREASED last month? LOLOLOL!!!!!

    Liked by 13 people

  11. lackawaxen123 says:

    when the experts GET THE SIGN WRONG on a jobs report they need to rethink their “models”

    Liked by 1 person

  12. lackawaxen123 says:

    apparently President Trump does have a magic wand Mr. Obama …

    Liked by 2 people

  13. redline says:

    On behalf of MY President, and all of the Treehouse, may I just say –

    Thank you, and good afternoon.

    Liked by 7 people

  14. Dutchman says:

    So, experts look at models, to warn of global warming,…er climate change.
    Models wrong.
    Experts look at models, to warn of who-flu.
    Experts wrong.
    Experts look at models, to predict depression. Experts wrong.

    Either they need new models, we need new experts, or perhaps the whole idea of using unelected experts to detirmine public policy needs to be reexamined?

    Liked by 4 people

  15. California Joe says:

    Apple Computer made a new high today at $331.75. You can still buy it at last month’s Coronavirus hoax low of $220. Just follow the directions below:

    Liked by 3 people

  16. Magabear says:

    Let me properly rephrase that opening paragraph:

    “reflecting a limited resumption of economic activity that had been curtailed due to the coronavirus scamdemic and efforts to kill Trump’s economy and reelection chances.”

    That’s what they meant to say.

    I intend to further help the economy by buying my first ever hand gun. A co-worker suggests a Rugger. A bit pricey, any recommendations for a decent USA made model in the $200 – $300 range?

    Liked by 2 people

    • III% says:

      https://www.ruger.com/products/lcp/models.html

      There is a couple of options. You can also get a discount by going pre-owned from a pawn shop or at a gun show.

      Liked by 1 person

    • III% says:

      To clarify, if you only want to spend that much, and buy American, you are going to need to hit the gunshows/pawnshops and/or settle for something without a ton of “punch”. Depending on your state laws, a private sale may also be an option.

      Like

      • Magabear says:

        I kinda figured you need to spend about four to five hundred on a really good model. Have to do some research this weekend.

        Funny thing is, every time in the past I’ve thought about buying a handgun I end up spending the money on some other hobby item. But after the nonsense I’ve witnessed this past week, it’s not something I’m delaying any longer. One on one I can handle myself very well, but a mob attack is a whole other can of worms.

        Like

        • III% says:

          Research is great. Also if they have allowed ranges to open where you are, there might be one that you can go rent various weapons and get a feel for what you want. That might help you focus your search.

          Like

    • California Joe says:

      If you’re not familiar enough with handling an automatic I would recommend a revolver. Old fashioned but much simpler and safer. I would suggest a .357 Magnum which handles both. 357 and .38 Special. You can also look at a .22 Magnum with the advantage of 8 round capacity versus typical 6. I would go to a local gun store and talk to them. If you want something for home defense and not for carry you might consider a shotgun. Mossberg is reliable and very inexpensive. Nothing scares the crap out of thugs than a 12 gauge shotgun! For a revolver try Smith and Wesson. Taurus makes an inexpensive revolver. There are several brands. Take a lesson from the expert at a range, too.

      Liked by 1 person

    • Nepanyrush says:

      Kahr Arms makes great handguns. I noticed it in a Jack Reacher novel and found out they make some excellent models. Have one myself now. Perfect for the wife as lightweight but powerful.

      Like

  17. bertdilbert says:

    I think I figured out why the democrats are running Joe Biden. They are not appealing to Americans. They are appealing to the Chinese. They must be raising huge money from China. I hope they get busted big time.

    Liked by 8 people

  18. nimrodman says:

    Everyone jus’ gonna get back to what they were doing
    China flu now an old story


    Liked by 9 people

  19. snailmailtrucker says:

    Previous Estimates brought to you by the….
    METH EXPERTS
    not
    MATH EXPERTS….
    of the Democrat Main Stream EnemMedia !

    Liked by 1 person

    • Ninja7 says:

      snailmailtrucker, They were only off one vowel, Just skipped the first one.🤗🤗

      Think that I am going to repurpose this 😁, attribution will be given if I remember, getting old and sometimes I forgets 🤔🤔

      Like

  20. Michael Hennessy says:

    Obamas 1 billion dollar Tarp disappeared into Wall Street accounts and union coffers, not into the pockets of laid off workers. His recovery was weak and drawn out at best as a result.

    Our President put workers first and he’ll be rewarded with V shaped recovery.

    Liked by 4 people

  21. MaineCoon says:

    Goody! Goody! For the next 4 months, we’ll hear of wonderful job reports! Again! Right before November! If I didn’t know better, I’d think our VSGP45 planned this!!

    Liked by 3 people

    • upstate909 says:

      I don’t think he planned this….I think he played this within 2 moves of a checkmate.

      Like

    • Nepanyrush says:

      And is LA still shut down economically, even after they allowed the protests? Are they still going after surfers and beachgoers? They are starting to look like real idiots keeping the economy shut down while allowing protests/riots en masse and even city leaders, who shut down everyone else and churches, marching shoulder to shoulder.

      Like

  22. cliffaheadwolvesbehind says:

    I am so grateful for some good news I’m actually teary eyed.
    Wow

    Liked by 2 people

  23. bertdilbert says:

    The best part of this is the democrats funded their own demise. Dems were so fixated on the prospect of filling spending with their pork, they missed the economic impact of the money they were approving. The Dems crashed the Trump economy and funded the amazing recovery which Trump will get credit for!

    I have previously proposed a Trump economic index (Red states verses Blue states). This will highlight the damage the democrats did to themselves trying their hardest to make Trump look bad.

    Liked by 2 people

  24. Do stop thinking about tomorrow says:

    I think that over at Bureau of Labor and Statistics they were cutting their throats having to announce this.

    Liked by 1 person

  25. sundance says:

    Liked by 9 people

  26. marmocet says:

    Clearly more riots are going to be needed. Have a team of interns trawl through the list of black people who have been killed by police over the past 12 months to see if any of them can plausibly be portrayed as proof that racist white cops in the US systematically go around killing innocent black men for absolutely no reason whatsoever and tell them to send whatever they find to the NYT and MSNBC so they can amplify the stories.

    We’re also going to need racial tensions extra inflamed so we can use the threat of unleashing riots to deter any upstarts at the DOJ from even thinking about charging Obama with anything for the rampant corruption he presided over during his administration.

    Like

  27. Reeeeeeeeeeeee!!

    The idiot left!!

    Like

  28. Johnny Boost says:

    Biden will take credit for it.

    Like

  29. Marcia says:

    Retired Magistrate here: In response to Patience: My artistic style is one all my own. Several judges didn’t know what to call it so they didn’t like it. Others have liked it and I got awards. It just depends on who the judge is. All I know is it makes me happy to paint and seems to make others happy also. That is what is important: Be true to yourself.

    Liked by 1 person

  30. Nowut Ameen says:

    “Massive jobs rebound: Media hardest hit”

    Liked by 1 person

  31. Rock Knutne says:

    Yes, yes he DID build that economy!

    Best. President. Ever.

    M🇺🇸A🇺🇸G🇺🇸A

    Like

  32. Vince says:

    Democrats complained that all the Trump years was just a continuation of the Obama economy. Until covid, then they gave President Trump credit for that. So, ok, this is now the beginning of the real aTrump economy

    Like

  33. free73735 says:

    Just wanted to say, “Luv that baby picture. So cute!

    Like

  34. thedoc00 says:

    Wonder if the democrat lemmings have noticed that them destroying their homes and neighborhoods as ordered by the democrat party and puppet masters meant absolutely nothing and had zero impact on the pocket books of their masters.

    Like

  35. Screaming Eagle says:

    And meanwhile, back at the Rat Cave………….
    tears a fallin’,
    rats are a ballin’,
    the sabotage is stallin’,
    and angry Georgie is a callin’

    I bet Georgie Soreass gave off one of those “NEWMAN!!” like curses (ala Jerry Seinfeld) only it was “TRUMP” !!!!!!!!!!!!!!!!!!!!!!!!!!!

    Like

  36. rah says:

    Truck traffic getting heavier now. They are keeping all six of us on call drivers busy. Bunch of laid off drivers slow coming back after they’re called. They get three days after called and if they don’t show the company puts in paperwork to end their supplement. Toyota is really gearing back up now and that is what I did this week covering loads for the Vandalia terminal which handles almost all of the Toyota freight we do. BTW most of the plants for all the auto companies won’t be doing a shut down in July for the model change. They are going to try change lines for the new models on the fly. They say the logistics pipeline is nearly empty and they can’t afford to shut down for even a week.
    Nissan is in trouble. Deep in the red even before this stuff happened. It’s going to take some time for them to recover.

    Liked by 2 people

  37. nimrodman says:

    Gonna be “Target deserts” in a lotta homeboys’ neighborhoods, looks like Target’s had enough

    Target Closes 175 Stores Nationwide In Wake Of George Floyd Protests, Looting

    https://www.forbes.com/sites/lisettevoytko/2020/05/31/target-closes-175-stores-nationwide-in-wake-of-george-floyd-protests-looting/

    Like

  38. CNN_sucks says:

    And most of them they looted end up selling it to their friends…disgusting.

    Like

  39. Harvey Lipschitz says:

    During Obama’s stimulus, Joe Biden kept promising next month there will be more jobs. Never happened. Good video clip for election season.

    When Obamascare was passed, Pelossis predicted 400,000 more jobs almost immediately. Never happened.

    Like

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