US adds 559,000 jobs in May as fears of hiring slowdown fade

The US added 559,000 jobs in May as the coronavirus pandemic receded, shaking off fears of a substantial slowdown in hiring after April’s disappointing monthly report.

The Bureau of Labor Statistics said Friday that the unemployment rate had fallen to 5.8% from 6.1% in April, still significantly higher than the 3.8% unemployment rate recorded in February 2020 before Covid 19 hit the US but less than half its 14.8% peak in April last year.

The news comes one month after the labor department shocked economists by announcing the US had...