Headline RoundupJune 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.

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