- The US unemployment rate declined to 13.3% in May, bucking forecasts expecting a near-record 19% reading.
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US shocks economists by adding 2.5 million jobs in May as unemployment declines to 13.3%
The US Bureau of Labor Statistics on Friday said US employers added 2.5 million payrolls in May, a shocking figure that defied economist expectations for 7.5 million jobs lost.
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Economists were shocked on Friday as US employers added 2.5 million payrolls in May, defying expectations for 7.5 million jobs lost. The surprise increase comes on the heels of the 20.5 jobs lost in April, which was a record.
Meanwhile, the unemployment rate declined to 13.3%, bucking forecasts expecting a near-record 19%. The prior month's 14.7% reading was the highest since the Great Depression of the 1930s.
This story is developing. Please check back for updates.
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Andy Kiersz/Business Insider
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