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BLOG_Unemployment-Report

May's Job Report: Rate Drops to 13.3%.

Jun 05, 2020

May’s job report saw a gain of 2.5 million nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. This is a reflection of the limited resuming of activities due to COVID-19. Employment rises are in leisure and hospitality, construction, education and health services, and retail trade.

May’s unemployment rate dropped to 13.3%, slightly down from 1.4% in April. The civilian labor force participation was 60.8%, slightly up 0.6% from 60.2% in April.

The report found that in May, average hourly earnings for employees on private, nonfarm payrolls dropped by .29 cents to $29.75.

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