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Unemployment Rate Drops, a Positive Surprise for Economy

Tuesday, Jun 09 2020
Lending
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Unexpectedly strong employment figures from the Labor Department have provided another sign that economic conditions have steadied since the coronavirus pandemic forced businesses to close in mid-March. So reports Reuters.

The jobless rate fell to 13.3% in May, down from a post-World War II high of 14.7% in April and well below the 19.8% expected by economists.

Nonfarm payrolls, projected to fall by 8 million jobs, rose by 2.509 million jobs, following a historic tumble of 20.687 million in April.

Read the full article from Reuters. 

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