A surprising bright spot in the US: Unemployment fell in May

A surprising bright spot in the US: Unemployment fell in May

Due to the increase in jobs, the unemployment rate fell again, by 1.4 percent to 13.3 percent. The US Department of Labor reports this Friday. Earlier, the government had feared the unemployment rate would rise to 20 percent in June.

Instead, there is a slight rebound. Employment increased, particularly in the tourism and hospitality sectors, construction, education, healthcare and retail sectors, the ministry said. On the other hand, the number of government jobs has decreased sharply.

Unemployment remains high

However, the number of unemployed is still high in the United States. In total, 21 million Americans are unemployed, an increase of 15.2 million from February. Many companies were forced to close due to the Coronavirus and people lost their jobs immediately.

At the end of March in particular, the economy took a hit, the number of unemployment claims rose rapidly, and unemployment rose to levels last reached during the Great Depression of the 1930s.

President Donald Trump is pleased with his latest job report and isn’t afraid to take the credit. “ Awesome job report. Well done, President Trump (joking, but it’s true)! “

READ  PwC posts flat final result of $2.6b, boundaries team cuts to 250

Leave a Reply

Your email address will not be published. Required fields are marked *