US President Donald Trump on Friday praised the rebound in US employment during the month of May as "the greatest comeback" as well as the "greatest miscalculation in the history of business shows" that even the legendary stock market investor and billionaire Warren Buffett made
WASHINGTON (Pakistan Point News / Sputnik - 05th June, 2020) US President Donald Trump on Friday praised the rebound in US employment during the month of May as "the greatest comeback" as well as the "greatest miscalculation in the history of business shows" that even the legendary stock market investor and billionaire Warren Buffett made.
"They said it will be nine million job losses, but instead we had nearly three million job gains and some wondered if it was a typo," Trump told a media briefing at the White House. "This shows even somebody like Warren Buffett ... makes mistakes. I think it was probably the greatest miscalculation in the history of business shows."
Earlier on Friday, the US Labor Department said that 2.5 million Americans re-entered the workforce in May, confounding economists on television talk shows who had predicted a job loss of 8 million.
Buffett famously issued a downgrade of US conglomerate General Electric in May, sending its shares diving as the group's aviation business indicated it would cut as many as 13,000 jobs this year due to the effects of the pandemic.
