Things are looking up!

The US had the largest single monthly gain in new jobs in history:

Nonfarm payrolls jumped by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday.

Economists surveyed by Dow Jones had been expecting a 2.9 million increase and a jobless rate of 12.4%. The report was released a day earlier than usual due to the July Fourth U.S. holiday.

The jobs growth marked a big leap from the 2.7 million in May, which was revised up by 190,000. The June total is easily the largest single-month gain in U.S. history.

Some policymakers are back to trying to smash the economy again, but there is little public appetite for that. Ignoring the orders is the norm now in many places.

Had we not had such a rip-roaring economy going into this coronavirus shutdown this would not have been possible. I am feeling pretty vindicated in my early and aggressive shutdown skepticism after watching the same hysterical policymakers who pushed it suddenly not care about the Armageddon virus at all when they think protests and riots served their political purposes. They clearly never believed this was going to be the end of the world.

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