America’s employment rate jumps to a record high in May


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America’s employment rate jumps to a record high in May, today, Tuesday 7 July 2020 10:39 pm

Employment in the United States jumped to a record high in May and layoffs fell as companies reopened, but signs of improvement in the labor market muddled by a jump in cases of Covid-19 disease that forced some projects to close again.

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. .

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The report comes on the heels of news last Friday that the world’s largest economy created a record 4.8 million jobs in June.
Off-farm jobs are recovering after a historic fall of 20.787 million in April, as the labor market was hit by companies closing in mid-March to slow the spread of the Corona virus.

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.


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