Menu Close

Pandemic battered economy is getting better

Covid Unemployment numbers

According to the report that came out from Labor department today, it shows that 2.5 million jobs were added last month and the unemployment rate fell to 13.3% from 14.7% in April. Economists had predicted the official unemployment rate will climb to 19% in May.

This is the first time we are seeing a positive nudge to overall labor market. Markets are expecting this trend to stay in this direction as States continue to open for businesses slowly.

Economists was forecasting a seasonally adjusted 1.8 million new claims filed through state unemployment offices.

Leave a Reply

Your email address will not be published.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