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Unemployment in the U.S. falls to 13.3%, confounding forecasters

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Posted at 9:25 AM, Jun 05, 2020
and last updated 2020-06-05 11:25:40-04

Unemployment around the U.S. declined slightly in May, falling to 13.3% as the economy showed signs of recovering from the impact of nationwide shutdowns caused by the coronavirus .

Employers added 2.5 million jobs last month, the Labor Department said Friday, after April marked the biggest hit to the labor market since records began to be kept in 1948.

The latest figures suggest the labor market has hit bottom and is now rallying, with forecasters predicting that layoffs will ease as states reopen their economies following months of being locked down.

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