The Bureau of Labor Statistics today reported a significant improvement in the amount of jobs added in May while the COVID19 pandemic is near its end, May added 559,000 jobs thanks to all sectors especially leisure and hospitality who needed all the help they could get with the Memorial Day weekend and then some, plus jobs added in public and private education, health care and social assistance thanks to states back at full capacity.
The nation’s unemployment rate also fell below 6 percent by a nice amount of 0.3 percent to 5.8 percent, it’s certainly a huge improvement from April’s job numbers where only 266,000 were added and the rate was up to 6.1 percent due to a drop in demand for temporary services.
Meanwhile, weekly unemployment claims are now at the lowest they’ve been so far in the pandemic, only 385,000 initial unemployment claims were filed with the insured unemployment rate staying at 2.7 percent.
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