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America’s employment rate jumps to a record high in May, today, Tuesday 7 July 2020 10:39 pm
On Tuesday, the US Department of Labor said in its monthly report that employment accelerated by 2.4 million jobs to 6.5 million, the highest level since the government began keeping records in 2000. The employment rate jumped to an all-time high of 4.9 percent, up from 3.1 percent in April. .
American layoffs fell by 5.9 million to 1.8 million in May, with the rate dropping to 1.4 percent from 5.9 percent in April, and the layoff rate hit a record high of 7.6 percent in March.