Latest UK News - Breaking News & Headlines

Unemployment in the United States Fell to 13.3 Percent in May

30,930

Unemployment in the United States fell to 13.3 percent in May. According to the United States Department of Labor, more than 2.5 million jobs were added to the largest economy in the world last month compared to April.

 

The economy was doing much better than expected.

On average, economists had anticipated a loss of 7.5 million jobs, which would bring unemployment to nearly 20 percent.

In April, job losses with a revised 20.7 million jobs were seen in the US, with unemployment at 14.7 percent. That was the highest level since the Great Depression.

The US economy is hit hard by the crisis as many companies close their doors and massively expel staff.

About 42 million Americans have already claimed unemployment benefits. The US government has announced massive aid packages to defy the crisis.

In addition, restrictive measures against the coronavirus are being gradually relaxed, which may help to restore the US labour market.

Leave A Reply