U.S. Employment Up 2.5 Million in May, Unemployment Drops to 13.3 Percent

U.S. Employment Up 2.5 Million in May, Unemployment Drops to 13.3 Percent

The U.S. Bureau of Labor Statistics (BLS) announced on Friday that total nonfarm payroll employment rose by 2.5 million in May, and the unemployment rate declined to 13.3 percent.

"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," wrote BLS in their report. 

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"In May, employment rose sharply in leisure and hospitality, construction, education and health services, and retail trade," BLS noted. "By contrast, employment in government continued to decline sharply."

U.S. Secretary of Labor Eugene Scalia issued the following statement on the May 2020 Employment Situation report:

“Today’s report shows much higher job creation and lower unemployment than expected, reflecting that the re-opening of the economy in May was earlier, and more robust, than projected. Millions of Americans are still out of work, and the Department remains focused on bringing Americans safely back to work and helping States deliver unemployment benefits to those who need them. 

However, it appears the worst of the coronavirus’s impact on the nation’s job markets is behind us.”