After Friday's unexpectedly positive May jobs report, President Trump's campaign is mocking the "doomsday economists" whose predictions didn't pan out — despite that group including Trump's economic advisers.
The Trump campaign put out a statement on Friday celebrating the report from the Labor Department showing the unemployment rate declined to 13.3 percent and the economy added 2.5 million jobs, a shocking result when economists forecasted the unemployment rate would rise to almost 20 percent with more than eight million jobs lost.
"Doomsday economists had predicted a loss of 8.5 million jobs in May, but the economy roared back and added 2.5 million jobs instead, thanks to President Trump's leadership and the solid foundation his policies have laid," a statement from campaign manager Brad Parscale said.
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Trump also called out the inaccurate predictions in a Rose Garden press conference celebrating the numbers, describing what he called the "greatest miscalculation in the history of business shows."
But Kevin Hassett, White House economic adviser, was forecasting a grim May jobs report too, having suggested that the unemployment rate would soar to 20 percent or more. In an interview with CNN less than two weeks ago, he said he expected the unemployment rate to be "quite a bit higher" in May than in April, possibly "north of 20 percent."
Additionally, White House economic adviser Larry Kudlow warned last month after April's report that "the numbers for May are going to be also very difficult numbers," predicting that the economy starting to reopen wouldn't have an effect for "a while."
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