U.S. jobless rate 3 points higher with accurately recorded household data: BLS
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.
What happened: Bars and restaurants, the segment of the economy worst hit by the pandemic, recalled 1.4 million workers following a loss of more than 6 million positions in the prior two months. Many businesses had been either closed or forced to operate at reduced capacity given strict rules on social distancing.
The only segment to shed another large chunk of jobs was government. Employment fell by 585,000, mostly reflecting school closures that put bus drivers, cafeteria staff and others out of work. Even after the return of 2.5 million jobs in May, the number of working Americans is almost 20 million lower compared to the last month before the pandemic began.
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