United States Nonfarm Payroll: unexpectedly improves
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United States Nonfarm Payroll: unexpectedly improves
A closely watched report released by the Labor Department on Friday claimed employment in the U.S. unexpectedly showed a substantial rebound in the month of May.:
"Total nonfarm payroll employment rose by 2.5 million in May, and the unemployment rate declined to 13.3 percent, the U.S. Bureau of Labor Statistics reported today."
"These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it. In May, employment rose sharply in leisure and hospitality, construction, education and health services, and retail trade. By contrast, employment in government continued to decline sharply," The Labor Department said in a statement.
official source..