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Employment figures unexpectedly rise by 2.5 million in May as jobless rate declines to 13.3% - after economists predicted it would reach 20%
| As some of us have been predicting. |
[Daily Mail, where America gets its news] - The US jobless rate dropped to 13.3% in May from 14.7% in April, according to a Labor Department report on Friday
- Jons also rose by 2.5 million jobs after a record plunge of 20.6 million in April
- Though the unemployment rate for white Americans was 12.4 percent in May, it was 17.6 percent for Hispanics and 16.8 percent for African-Americans
- Industries to see the sharpest increases in employment in May were in leisure and hospitality, construction, education and heath services, and retail trade
- President Donald Trump immediately took credit for the rise in jobs just moments after the report was released
- Economists had been predicting the report would reveal the unemployment rate had increased to a record 20% and about eight million jobs had been lost
- The May job gain suggests that businesses have quickly been recalling workers as states have reopened their economies following weeks long lockdowns
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Posted by: Skidmark 2020-06-05 |
