US Department of Labor reports on an unexpected decline in unemployment in May

11 months ago

The US unemployment rate for May unexpectedly declined. Compared to April indicators (14.7%), last month it decreased to 13.3%. This is stated in the report of the US Department of Labor.

According to the agency, the number of jobs in non-agricultural sectors of the economy grew by 2.5 million. In the entertainment and hospitality sector, the number of jobs increased by 1.2 million after falling by 7.5 million in April. The remaining job growth was recorded in the restaurant business.

However, according to the Ministry of Labor, the improvement turned out to be uneven: unemployment among the white population showed a record decline, but rose among blacks and Asians.
The reduction in unemployment was unexpected, as analysts surveyed by Reuters expected unemployment in May at 19.7% and a decrease in jobs by 8 million.

US President Donald Trump, commenting on new data on unemployment, said that the country is waiting for a “long period of growth” of the economy. “Great numbers.” <…> A positive employment report shows that we did the right thing, ”he said, referring to the weakening of restrictive measures.

Trump suggested that the next few months will be positive for the US economically.
“I did not know that [economic recovery] would begin so quickly. I thought it would start in August-September. And it began so early, ”the head of state said, comparing the period negative for the economy with a hurricane, from which the Americans managed to recover“ very quickly ”.

US unemployment in April showed the worst result since the Great Depression. It amounted to 14.7%, 20.5 million people were left without work. For comparison, in February, unemployment in the United States was at 3.5%

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