Quote:
Originally Posted by GoodLife
Dow rallies 900 points for the first time since early April amid historic jobs surge
U.S. employers added a shocking 2.5 million jobs last month — the largest gain on record — while the unemployment rate slid to 13.3%, the Labor Department said Friday. Economists polled by Dow Jones expected a drop of more than 8 million jobs and the unemployment rate to nearly reach 20%, which would have been the highest since the 1930s.
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The economy disintegrated because of Covid-19. It is much easier to make huge gains when we're at the bottom of a recession. The better the economy gets, the more difficult it is to improve.
if you play golf, it's pretty easy to take some lesson and learn to break 100. It's a bit more difficult to learn to break ninety and it becomes even more difficult to shoot in 70s. Being able to shoot under par is almost impossible for most people that don't have a lot of natural talent and are not willing or able to spend hours and hours practicing the right way.
The stock market, the job market, the overall economy and the gross domestic product are the same. The better they get the more difficult it is to improve. We can expect the most growth when we are recovering from a bad patch. Unemployment hitting a new low of 13.3% would have been laughable a year ago when it was 3.5%.