Unemployment rate dropped to 13.3% as economy gained 2.5M jobs in May
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(Worthy News) – The economy gained 2.5 million jobs in May, lowering the unemployment rate to 13.3%, the Labor Department said Friday.
The payroll gains, the largest on record, represented a stunning development and a hint that the worst-case scenario for the economy might not come to pass. Forecasters had expected job losses of 8 million and an unemployment rate of about 20%.
The economy had shed 1.4 million and 20.7 million jobs, respectively, in March and April. [ Source: Washington Examiner (Read More…) ]
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