You are here: Home » International » News » Economy
Business Standard

US job growth picks up in May; unemployment rate declines to 5.8%

Economists polled by Reuters had forecast 650,000 jobs created in May.

Topics
US jobs report | US unemployment rate | US economy

Reuters  |  WASHINGTON 

U.S. employers boosted hiring in May as the easing pandemic, helped by vaccinations, pulled more people back into the labor force, offering assurance that the economy's recovery from the COVID-19 recession remained on track. Nonfarm payrolls increased by 559,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for April was revised slightly higher to show payrolls rising by 278,000 jobs instead of 266,000 as previously reported. Economists polled by Reuters had forecast 650,000 jobs created in May. The unemployment rate fell to ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, June 04 2021. 19:24 IST
RECOMMENDED FOR YOU
.