US hiring underwhelms in May as economic reopening hits turbulence

Published by
AFP

Washington (AFP) – The United States added 559,000 jobs last month as hard-hit sectors rehired workers laid off during the worst days of the pandemic, but analysts warned the virus was continuing to complicate the economy despite massive government stimulus. The hiring reported in the Labor Department data undershot analysts’ expectations for a lofty rebound enabled by accelerating Covid-19 vaccination campaigns, following the surprisingly weak employment gains in April. Even so, the job gains pushed the unemployment rate down to 5.8 percent, from 6.1 percent in April. Rubeela Farooqi of High …

Read More

Share this Story
Load More Related Articles
Load More In US News

Facebook Comments

Check Also

Toshiba blames woes on former CEO’s ‘confrontational approach’ to shareholders

Published by Reuters (Corrects fourth paragraph to say ...

Archives