U.S. adds 559,000 jobs in May, jobless rate falls to 5.8%

Politics Economy

The U.S. economy created 559,000 nonfarm jobs in May, while the unemployment rate fell 0.3 percentage point from April to 5.8 percent, the Labor Department said Friday. Growth in nonfarm payrolls came on the back of a continuing recovery from the coronavirus-induced economic downturn but fell below the market consensus of an increase of about 650,000. The department revised downward the nonfarm payrolls growth reported for April from 266,000 to 278,000. The March figure was up from 770,000 to 785,000. In May, the private industry generated 492,000 jobs, while the government added 67,000 jobs. ...

Kyodo News

Kyodo News