Unemployment Rate Falls To 13.3%
AMERICA'S UNEMPLOYMENT RATE FALLS TO 13.3% AS ECONOMY POSTS SURPRISE JOB GAINS
(CNN) – Surprising unemployment numbers for May, the U.S. unemployment rate fell to 13.3% last month.
This as the economy gained 2.5 million jobs.
In April, the unemployment rate soared to 14.7% as businesses shut during the coronavirus lockdown.
Economists expected the unemployment rate to be even worse in May, rising to nearly 20%.
But the gradual reopening of the economy added new jobs rather than eliminating further positions.
President Trump took credit for the better than expected report on Twitter, calling the numbers “incredible.”