The US job market recovery picked up some steam in May, with 559,000 positions added back to the economy. The unemployment rate fell to 5.8%.
New York America's job market recovery picked up some steam in May, with 559,000 positions added back to the economy.
It was a second sizable miss of analyst expectations after a big disappointment in April. Economists had predicted 650,000 jobs added in May.The unemployment rate fell to 5.8%, the Bureau of Labor Statistics reported Friday. This is the lowest rate of joblessness since March 2020, when it stood at 4.4% and full effect of the pandemic lockdown hadn't happened yet.Nevertheless, America is still down 7.6 million jobs compared with February 2020.The labor force participation rate stood at 61.
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