2.5 Million Jobs Gained in May, Unemployment Rate Drops to 13 Percent

The U.S. economy surprisingly gained 2.5 million jobs in May, and the unemployment rate fell to 13.3 percent from 14.7 percent in April, according to the latest report from the Bureau of Labor Statistics. Economists were forecasting about 8.3 million jobs lost, and that the unemployment rate would rise to nearly 20 percent. Unemployment has seemingly hit its

peak as employers across the country begin reopening and rehiring laid off workers. Then again, full economic recovery is expected to be slow, and very much depends on the course of the virus and whether there is a resurgence later this year.

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