Covid-19 Causes A Good Surprise

Published June 5, 2020, 6:37 p.m. EST

The Covid-19 epidemic surprised the world again Friday morning, when the Labor Department announced 2.5 million jobs were created in May.According to Yardeni Economic Research, an independent economic research firm to institutional investors, Wall Street had expected a loss of 4.25 million jobs in May. Through the end of April, the economy lost a stunning 20.6 million. The additional jobs losses that had been expected would have made the epidemic the biggest job killer since The Great Depression of 1929. The May unemployment rate had been expected by Wall Street to rise to 19.7%, from 14.7% in April....

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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