The economy is reopening: "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", the report said.
While unemployment was down in May for whites and Hispanics, it remained little changed for blacks and Asians.
Another important report, the Institute for Supply Management surveys of purchasing managers - also known as PMI, showed a reading of 31.8% for employment in the service sector and 32.1% in the manufacturing sector.
New data showed that the USA unemployment rate dropped slightly in May as businesses have gradually reopened across the country, an encouraging sign for the COVID-19-battered labor market. "It took years for the economy to grow enough to find jobs for those unemployed in the last recession, and it will take years again this time to do the same". Economists had expected the rate to approach 20%, driven up from 14.7% by job losses topping 8 million.
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As in previous days, the demonstrations in daylight were peaceful, with officers mostly keeping their distance from marchers. The arrest was made at 10.30 pm, an hour before De Blasio urged the protesters to maintain calm.
After months of criticism over his hit-and-miss handling of the pandemic and outrage among even some top former aides over his suggestion of a military crackdown or police brutality against protesters, Trump is at the lowest ebb of his presidency. Trump wrote on Twitter. With the Great Recession, it took until 2016 for the unemployment rate to return to pre-downturn levels.
Stocks surged on Wall Street on the news, with the S&P 500 gaining 2.2% within 15 minutes. The dollar rose against a basket of currencies. American Airlines, for example, said this week that it will fly 55% of its US routes in July, up from just 20% in May.
Even with May's rebound, the hole is deep. People not actively seeking work aren't counted in unemployment figures. Payrolls are almost 20 million below their pre-COVID-19 level.
Though numerous unemployed have said they expect their layoffs to be temporary, many large businesses won't rehire everyone they laid off. A survey of households establishes the unemployment rate.
A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, dipped to 21.2 per cent in May from 22.8 per cent in April.
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However, the drug did not seem to cause serious harm, though - about 40% on it had side effects, mostly mild stomach problems. As many as 3,100,711 people have recovered from Covid-19, which has spread to 213 countries and territories across the world.
The job gains may also reflect that the Paycheck Protection Program, meant to shore up employees of small businesses, had an effect on the labor market. Another private survey, the ADP National Employment Report, showed a loss of 2.75 million private sector jobs, as opposed to the official report of a gain of 3 million jobs. Hotels and restaurants added 1.2 million jobs in May, after shedding 7.5 million. On the other hand, employment in government continued to plummet.
The increase in the number of jobs - which mirrored a similar bump in the US - came after three million jobs were lost over March and April and about 2.5 million more had their hours slashed.
Other hard-hit industries saw increases in employment: construction added 464,000 jobs, education and health services 424,000 and retail recorded an increase of 368,000.
But government payrolls dropped by 585,000 in May, with the declines in state and local governments, whose budgets have been crushed in the fight against COVID-19.
But white people who began job hunts were mostly hired: The number of unemployed white people fell by more than 2 million.
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The company, a big beneficiary of the covid-19 pandemic fallout, nearly doubled its revenue guidance for the fiscal year.