US economy adds 2.5M new jobs in May
Nonfarm employment in the United States rose by 2.5 million in May as the country began to reopen following coronavirus lockdowns, the United States Bureau of Labor Statistics (BLS) said on Friday. Meanwhile, the unemployment rate decreased by 1.4 percentage points to 13.3%.
Both figures were significantly better than analysts had expected.
The report stressed that jobs were added in leisure and hospitality, construction, education and health services and retail trade, while employment in government continued to drop. Average hourly earnings in the private sector fell by 29 cents month-over-month to $29.75 in April.
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