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May sees biggest jobs increase ever of 2.5 million as economy starts to recover from coronavirus
https://www.cnbc.com/2020/06/05/jobs...-may-2020.html
- Nonfarm payrolls rose by 2.5 million in May and the unemployment rate fell to 13.3%.
- Wall Street estimates had been for a decline of 8.3 million and a jobless level of 19.5%, which would have been the worst since the Great Depression era.
- Much of the gain came from those classified as temporary layoffs due to the coronavirus-related economic shutdown.
- Leisure and hospitality represented almost half the jobs gained.
COMMENT: Read it an weep socialist baby-killers: This is from part of the NBS News family!
May retail sales beats expectations amid rattled economy by coronavirus