Dow Jones index finished its trading week 800 points stronger. There’s still roughly 2,000 points missing for the index to return to its prepandemic levels.
American shares have experienced a successful end of trading week. Friday’s data from Labor market have surprised not only investors, but also economic analysts. After weeks, when the number of jobless claims in the U.S. grew in 2 million a week, there has been a surprising change. The employment rate grew in 2,5 million people in the end of May.
The unemployment rate has dropped from 15% to 13,3%. However, analysts expected that the end of May would bring 25% unemployment rate. The actual data can be perceived as a shift in economic progress. If upcoming weeks confirm that number of unemployed people is dropping, the current economic crisis could be considered the shortest and least dramatic crisis ever.
Seasonal works start, and that could have a positive impact on American labor market. Even though it may change the overall results, it would signal return to a normal state. Yet, once financial help provided by the government in the volume of $3 trillion is used, it will be a key moment. Only then can we see the real state of the U.S. economy.
