U.S. Regains 2.5M Jobs in May, Unemployment Falls to 13.3% as Economy Starts to Recover from Coronavirus
Wednesday, August 5th, 2020
Unemployment rate would be three percentage points higher if household forms had been completed correctly, concedes Bureau of Labor Statistics; stocks surge on signal that postpandemic recovery has begun.
The numbers: The U.S. regained 2.5 million jobs in May and the unemployment rate fell to 13.3%, confounding Wall Street expectations for another big wave of layoffs and signaling the economy began to revive last month from the worst economic crisis since the Great Depression of the 1930s.
