U.S. Economy Adds 2.5 Million Jobs in May; Unemployment Rate Falls to 13.3%

The U.S. unemployment rate fell to 13.3% in May, and 2.5 million jobs were added – a surprisingly positive reading in the midst of a recession that has paralyzed the economy and depressed the job market in the wake of the viral pandemic.

The May job gain suggests that businesses have quickly been recalling workers as states have reopened their economies. There has been other evidence that the job market meltdown triggered by the coronavirus has bottomed out.

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The April jobless rate was 14.7%, which economists say was the highest unemployment rate since the Great Depression.

(Copyright 2020 The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

 

 

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