A Turning Point On The Jobs Front

Plus: A New Bull Market? You are receiving this limited-time email resource as a subscriber to Kiplinger's free e-newsletters. We will continue to publish this daily throughout the height of the coronavirus outbreak. To unsubscribe at any time, simply click the link in the footer below. JUNE 5, 2020 [View in browser]( [Corona]( WHAT YOU NEED TO KNOW ABOUT THE CORONAVIRUS OUTBREAK Finally, some good news on the jobs front: Employment began to recover in May after plunging earlier this spring. 2.5 million net jobs were created, about 11% of the jobs lost earlier, led by gains in construction, retail, health care and food service. While more jobs were added than were lost, an additional 4.9 million workers still lost their jobs in May. Layoffs continued at airlines, hotels, state and local governments, and some retail, for example. SEE ALSO: [20 Best Stocks to Buy for the Next Bull Market]( But keep in mind, the jobless rate would be worse than the official 13.3% if not for statistical flukes. Fewer folks are seeking work and thus not counted as unemployed, for instance. The Bureau of Labor Statistics has admitted to having a problem correctly counting the unemployed. If this correction is made, and if labor force participation had stayed the same as it was in February, the current unemployment rate would be 19.2%, down from 23.9% in April. Still, the May report is a heartening sign that the worst of the recession is over. Free download, [The Kiplinger Letter's Forecast](. No information required from you. Are we in a new bull market? With the S&P 500 stock index up 39% since its March 23 low, the answer seems an obvious 'yes.' And yet, plenty of veteran Wall Streeters say the bull isn't official yet and doubters emerge whenever the market teeters. Conventional wisdom says stocks are in a bull market once they're at least 20% up from the market's low. But given that bear markets are often punctuated by powerful rallies that ultimately fade, it's important to add a time element. Sam Stovall, the chief investment strategist at investment research firm CFRA, defines a bull market as a gain of at least 20% plus a span of six months without the market undercutting its prior low. Official or not, however, Stovall is a bull. CFRA's 12-month target for the S&P 500 is 3435, about 10% higher than its June 4 close. "The reason for my optimism is the massive amount of stimulus" injected into the market and the economy by the Federal Reserve and Congress, says Stovall. CFRA is most bullish on the communication services, health care and information technology sectors. SPONSORED CONTENT FROM POLICYGENIUS [Life Insurance For Seniors: Prepare For Uncertainty]( [Life Insurance For Seniors: Prepare For Uncertainty]( Typically, term life insurance expires around age 60. If you find your financial situation calls for coverage as a senior, Policygenius makes it easy to compare options from top companies to find a great fit that you can afford. [READ MORE]( RELATED LINKS [The Stock-Bond Shuffle of Asset Location]( [5 Stocks to Buy for an Uncertain 2020]( [Stock Market Today: Investors Tap the Brakes]( [A Dicey Year for Dividends (and 4 Stocks for Solid Payouts)]( [Keep a Delicate Balance With Foreign Stocks]( [Kiplinger] [Facebook]( [Twitter]( [LinkedIn]( [Google+]( [Tumbler]( Send this to a friend. [Click here.]( All content ©2020 The Kiplinger Washington Editors 1100 13th Street, NW, Suite 1000 Washington, D.C. 20005 Thank you for subscribing to Kiplinger's A Step Ahead, a free resource to help readers navigate special circumstances such as the coronavirus outbreak. If you ever wish to stop receiving this daily service, please [click here to unsubscribe.](