The S&P 500, a proxy for the performance of U.S. retirement and college savings accounts, gained 81.58 points, or 2.62 percent, to settle at 3,193.93. Corners of the market tied to the progress of reopening, and ultimately the broader recovery in the economy, continued to attract demand. Microsoft MSFT.O , Apple AAPL.O and Alphabet GOOGL.O have outperformed most stocks within the Nasdaq, while Amazon AMZN.O and Facebook FB.O have set record highs in recent weeks.
NR Narayana Murthy, whose daughter Akshata married Sunak in 2009, has a stake in the company which would give him a £1.7 billion fortune, according to Forbes. 'That means a jobs guarantee scheme - so everyone can get a decent job on fair wages, and working with unions and business to deliver support for strategic industries that have the potential for many good jobs once the outbreak is controlled, ' O'Grady said.
His comments came on the heels of the Labor Department's May jobs report , which revealed that employers added a stunning 2.5 million jobs last month - the biggest increase on record. Employment in government continued to decline sharply. In April, the black unemployment rate was 16.7%, in May it was 16.8%. There was also question regarding how the Labor Department classified the unemployment rate for May, especially in light of so many companies furloughing staff in lieu of an actual ...
This is much better that analysts predicted as it was feared that the USA could have extended April's record losses, with another 8 million jobs lost and the unemployment rate expected to spike to 20 percent. The Labor Department's Bureau of Labor Statistic (BLS), which compiles the employment report, said a misclassification by respondents made the unemployment rate lower than it really was in April.
Analysts in a Reuters poll had predicted a loss of 500,000 jobs and an unemployment rate of 15.0%. Had the mistake been corrected, the unemployment rate would have risen to 16.1% in May, while corrected April figure would have been more than than 19%, rather than 14.7%.
His comments came on the heels of the Labor Department's May jobs report, which revealed that employers added a stunning 2.5 million jobs last month - the biggest increase on record. White House economic adviser Kevin Hassett had warned that the unemployment rate could hit near 20 percent in May or June - a level not seen since the Great Depression.