The U.S. economy added more than 550,000 jobs during the month of May, the Labor Department said in its monthly report Friday — marking the second straight month the figure did not meet expectations.
The report showed an addition of 559,000 jobs and a decline in the unemployment rate to 5.8%. Most economists projected about 675,000 new jobs.
President Joe Biden is scheduled to speak about the report during a White House news conference at 10:15 a.m. EDT.
The department said the greatest additions last month were seen in the leisure and hospitality, education and healthcare sectors.
Overall, the number of unemployed persons fell by 496,000 to 9.3 million, the report states.
“These measures are down considerably from their recent highs in April 2020 but remain well above their levels prior to the coronavirus pandemic,” the department said in its report.
Friday’s report came after a disappointing performance in April, when analysts expected about 1 million new jobs for the month. The actual figure was 266,000. In March, the economy added more than 900,000 jobs and topped expectations by close to 70,000.
The April numbers also led to debate about a nationwide worker shortage and businesses saying they can’t find enough workers.
Thursday, ADP and Moody’s Analytics said 978,000 private-sector jobs were added in May and the Labor Department said 385,000 new unemployment claims were filed last week, the first time in 14 months the jobless figure was under 400,000.
The May jobs report was expected to influence debate about the prospects for sweeping Biden’s infrastructure and family plans.
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Until the economy surpasses the number of jobs that were filled prior to the pandemic the Biden administration has nothing they can really point to as of their doing and created by their policies. The biggest contributor to job loss was the short-sighted Democrats who locked down their states and cities totally unconcerned with the eventual devastation it caused to workers and their families, some still entrenched to this day.
AND since we see news report after news report of THOUSANDS OF BUSINESSES struggling to get folks hired, for the DOZENS OF JOBS EACH HAVE open, exactly where are the workers ‘this report says were hired’, going??
Ah the jobs report. They reported on Fox News that my Governor Gretchen, in Michigan, wants to pay people unemployment benefits when they work part time. Gretchen’s reelection campaign is under way. Work 20 hours a week and collect unemployment and you will make as much money as a person working 40 hours a week. Man, what a great deal for being lazy!
That’s the leftists go to tactic. PAY YOU FOR BEING LAZY.. Buy your vote effectively!
Illigetimate Joe uses terms in jobs gained. However, how many jobs came back just due to the covid restraints coming off? I have had a problem even with his statements on the economy. We all received stimulous checks and spent the money. So once the money dries up, then what Joe? Problems remain on the border, lack of employees seeking employment due to the stimulous handout, rising prices of gas, lumber, electric wire, and typically everything, including food. So we do have raised wages, but we the people gained nothing. Nothing. We have to pay more for all of the products we buy. With higher wages, the Dems will like you for paying more taxes into their foolish spending programs.
I saw a news clip where Biden was saying that the numbers are a sign of historical progress. What is this guy smoking? Historical progress came at the hands of Trump and Biden has wiped out a lot of the jobs that Trump created.
Don’t you have to wonder if they are using the real jobs created NUMBERS, they do tend to lie about EVERYTHING !
“The U.S. economy added more than 550,000 jobs during the month of May….”
By “added” they mean clawed back from the Globalist Abyss. Added is what Donald Trump did for three years.
All Biden has added are items to his bloopers reel.