Rachel Maddow, an MSNBC host and fierce critic of President Donald Trump, predicted at the close of her program on Wednesday that the June jobs report would be “absolutely terrible.”
As it turned out, however, the numbers represented good news for the Trump administration and a struggling economy as the unemployment rate dropped, according to the Daily Caller.
“We’re actually going to get the jobless numbers, the unemployment numbers for the month of June a day earlier than we would otherwise expect them,” Maddow told her audience this week. While the report would have normally been released on Friday, she noted that they would instead be available on Thursday.
“Brace yourself,” she said with a grin. “It’s going to be absolutely terrible.”
The U.S. Bureau of Labor Statistics disproved her prediction, however, announcing that 4.8 million jobs were added to the economy last month — far more than expected by most leading analysts.
— TV News HQ (@TVNewsHQ) July 2, 2020
As a result of the increase, the unemployment rate dropped from 13.3% in May to 11.1% the following month. The total number of unemployed Americans over the same time period dropped from 21 million to 17.8 million.
“Record jobs report”
Some experts, including Job Creators Network President Alfred Ortiz, have portrayed the news as a signal that the economy is in fact headed in the right direction following widespread shutdowns related to the ongoing coronavirus pandemic.
“This record jobs report, with especially strong gains in manufacturing employment, is a big step in the right direction as America overcomes the worst public health emergency in over a century,” he said.
According to Ortiz, the news signals “that the recovery will be swift and ‘V’-shaped,” echoing the refrain President Donald Trump has used in describing his prediction for the future. Trump weighed in on Maddow’s recent comments by sharing a video highlighting her botched forecast.
— Donald J. Trump (@realDonaldTrump) July 2, 2020
Although some of his political foes might wish for the opposite, Trump continues to see the recovery he predicted play out with each passing month.