Economy

Here’s where the jobs are in one chart — May 2020

0


The government’s May jobs report stunned Wall Street with the largest number of payrolls gained on record and a drop in the unemployment rate during a month when most expected grim comparisons to the Great Depression.

The U.S. leisure and hospitality industry, which suffered its most-brutal month ever in April, posted an eye-popping rebound in May with a net addition of more than 1.2 million jobs, by far the largest one-month increase in the sector’s history.

In the government’s prior jobs report that detailed the April jobs situation, the leisure and hospitality industry lost 7.7 million jobs, or 47% of total positions.

The vast majority of the industry’s May gains were in food service,…



Source cnbc.com

Stock market live updates: Dow up 200, Druckenmiller 'humbled' by comeback, S&P down 1% this year

Previous article

Lockdowns prevented nearly 5 million U.S. coronavirus cases, study says

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Economy