Employers added a "not great, not terrible" 559,000 jobs in May, slightly disappointing expectations while also signaling that hiring is picking back up as the economy recovers from the COVID-19 pandemic. Unemployment dropped to 5.8 percent, down from 6.3 percent in January.
Economists had expected May's job report to show 677,000 jobs gained. The report follows April's shocking job numbers, when only 266,000 jobs were added, about 700,000 fewer than were expected; May's numbers, notably, are more than double that. The Washington Post's Heather Long explained that the economy has now regained about 67 percent of jobs lost during the pandemic, leaving about 7.4 million jobs to go.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
'Forever': Judy Blume's controversial novel gets a modern adaptationThe Explainer The Netflix series gives the 1975 novel all the trappings of modern teen life
-
Why does the GOP want to ban state-level AI regulation for a decade?TODAY'S BIG QUESTION House Republicans are pushing to block states from making their own AI laws for the next ten years, even as expert warn the results could be disastrous.
-
6 elegant Queen Anne Victorian homesFeature Featuring original diamond-glass doors in New York and a registered historic landmark in Arkansas
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
What is the job market's future after Trump's tariffs?Talking Points Economic analysts are split on what the tariffs could mean for employees
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
