Headline Roundup • June 4th, 2021
US Adds 559,000 Jobs in May; Unemployment Drops to 5.8%
Summary from the AllSides News Team
The U.S. economy added 559,000 jobs in May, falling short of economists' predictions of 675,000 but more than doubling the 266,000 jobs added in April. The national unemployment rate fell from 6.1% to 5.8%, the lowest it's been since the pandemic began; this beat economists' estimates of 5.9%. Jobless claims also fell to 385,000 this week, a new pandemic low. Employment remains 5% lower than it was in February 2020. According to the Bureau of Labor Statistics, there were notable jobs gains "in leisure and hospitality, in public and private education, and in health care and social assistance in May."
Outlets across the political spectrum covered the jobs report Friday morning. Most highlighted the fact that hiring fell short of expectations for the second straight month, but is still increasing as vaccination rates rise and public health restrictions are eased. Some reports from right-rated sources focused more on the stock market's positive response to the report.
Featured Coverage of this Story
The Guardian
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...
CNBC
Job creation disappointed again in May, with nonfarm payrolls up what normally would be considered a solid 559,000 but still short of lofty expectations, the Labor Department reported Friday.
Payrolls were expected to increase by 671,000, according to economists surveyed by Dow Jones.
The unemployment rate fell to 5.8% from 6.1%, which was better than the estimate of 5.9%. An alternative measure of unemployment that includes discouraged workers and those holding parttime jobs for economic reasons edged lower to 10.2%.
May’s letdown came after April sharply undershot expectations, with the...
Fox News Digital
U.S. stock futures were modestly higher Friday morning as traders digested the May jobs report.
Dow Jones Industrial Average futures were higher by 75 points, or 0.22%, while S&P 500 futures and Nasdaq 100 futures edged up 0.3% and 0.38%, respectively.
May nonfarm payrolls showed the U.S. economy added 559,000 jobs last month, lighter than expected, as the unemployment rate slipped to 5.8%, a fresh pandemic low.
In stocks, the E.U. and U.K. have opened an antitrust investigation into whether Facebook Inc. used its classified-ads service Marketplace to repurpose advertiser data for its own illegal...
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