US Jobs Report - Only 559,000 Jobs Added in May
What Happened:
According to the Labor Department, the US economy added only 559,000 jobs in May, less than the 675,000 jobs economists projected.
Unemployment decreased slightly from 6.1% in April to 5.8% in May.
Economists are optimistic that the reopening of the economy, the easing of safety restrictions and the drop in jobless claims shows that the economy is headed in the right direction.
Despite some of the positive trends, this is the second month in which the jobs report is lower than expected which shows that some businesses are still struggling to find enough workers, particularly for entry level positions. Inflation is also a concern, particularly for Wall Street.
Photo Credit: Cari Dobbins
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