U.S. job growth picks up in May; unemployment rate falls to 5.8%
The Hindu
May unemployment rate falls to 5.8% as pandemic eases
U.S. employers boosted hiring in May as the easing pandemic, helped by vaccinations, pulled more people back into the labour force, offering assurance that the economy’s recovery from the COVID-19 recession remained on track. Non-farm payrolls increased by 5.59 lakh 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 2.78 lakh jobs instead of 2.66 lakh as previously reported.
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