Your Daily Roundup for May 6th

Good morning. As the COVID-19 pandemic takes a toll on the U.S. economy, our team at Future Majority is tracking the latest updates: 

Trump all but admitted that Americans will die for the sake of the economy:

“Will some people be affected badly? Yes,” the president said yesterday. “But we have to get our country open.” He added, “I'm viewing our great citizens of this country to a certain extent and to a large extent as warriors. They're warriors. We can't keep our country closed. We have to open our country.”

The consensus among public health experts is that states are reopening their economies too soon, and doing so will lead to greater spread of the virus, illness and death.

The private sector lost 20 million employers in April:

The ADP National Employment report released today showed that 20 million private sector workers lost their jobs last month, an unprecedented drop.

Over 6 million people working in small businesses lost their jobs and the sector hardest hit was the service economy, with 16 million being let go.

The rest of the world is suffering:

The European Commission projected that Europe’s economy will shrink by 7.4% this year -- during the financial crisis in 2009, it shrank 4.5%.

Despite the troubling news from across the Atlantic, the stock market ticked up this morning.