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A record 20.5 million jobs were lost in April as unemployment rate jumps to 14.7%

Nonfarm payrolls fell by 20.5 million in April and the unemployment rate rose to 14.7%, both post-World War II records.

Economists had been expecting a loss of 21.5 million jobs and the unemployment rate to surge to 16%.

The “real” unemployment rate, which includes workers not looking for jobs and the underemployed, surged to 22.8%.

https://www.cnbc.com/2020/05/08/jobs...pril-2020.html

Stocks rallied yesterday erasing the losses from Wednesday. Two down days in a row have become rare, and it has actually been more than two months since we've seen three down days in a row for the S&P500. The Dow gained 211-points and we saw healthy gains across the board, although for a third straight day the indices closed well off their intraday highs with some late selling.

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