Welcome to the Real Vision Daily Briefing. I'm Jack Farley. It's Friday May 8.

We've got our Real Vision CEO Raal Pal standing by with Ash Bennington and they're ready to give you their macro analysis but they're also

going to be giving you a sneak peek of our epic content campaign that we're going to be

having over the next two weeks it's called the global. What's next? We booked great names, some of the biggest names in finance.

So over the course of the campaign, you're going to be hearing from some of the best investors in the world.

And what are they thinking about the recovery, the global economy,

finance, different asset classes. It really is going to be an embarrassment of riches.

But first, the big story of the day, the long awaited numbers from the Bureau of Labor Statistics

came in at 830 this morning and in many ways they beat expectations even though

they're the worst that we've ever seen since the Great Depression.

Non-farm payrolls fell by a staggering 20 and a half million.

This is the biggest month over month change since the series began in 1939. It's not even close. This massive drop-off wiped out

almost a decade's worth of job growth and as a matter of fact the total figure for non-farm

payrolls is actually lower than where it was at the end of 2000.

I actually found a fascinating and terrifying chart by Bloomberg Intelligence that the number of jobs just lost in the past month is higher than the number of all jobs in America lost during all

recession since 1970. These unprecedented mass layoffs have pushed the unemployment rate to a staggering 14.7%.

This is much higher than the 08 financial crisis.

This kind of devastation in the labor market hasn't been seen since the Great Depression.

Unfortunately, the bad news doesn't end there.

The Labor Department indicated that the true rate of unemployment could be as high as

19% because many Americans are reporting themselves as employed but

absent from work when in fact they're furloughed and it's interesting furloughed

...