BREAKING: The U.S. unemployment rate fell to 13.3% in May, slightly below the April high of 14.7%, as the U.S. economy added 2.5 million jobs in May.
Employers added 2.5 million jobs last month as economic activity slowly resumes andThe numbers represent a much more optimistic view for the economy moving forward. President Donald Trump tweeted after the report was released, writing,"Really Big Jobs Report. Great going President Trump !"Some of the most notable job gains in May occurred in leisure and hospitality, construction and retail trade as those sectors begin to reopen.
"These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus pandemic and efforts to contain it," the government said in its news release Friday. The leisure and hospitality sector saw an increase of 1.2 million jobs in May after losses of 7.5 million jobs in April. Food and drinking places gained 1.4 million jobs last month after losing more than 6 million jobs in March and April combined.
Employment in construction increased by 464,000 in May, gaining back almost half of the jobs lost in April. Meanwhile, employment in retail rose by 368,000 last month but lost more than 2 million jobs in April. The accommodation industry, however, lost 148,000 jobs last month and 1.1 million jobs in total since February.
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