Disappointing May jobs numbers show the US added 599,000 jobs, below the 670,000 expected by analysts. This on the heels of low April jobs numbers which yielded 266,000 despite predictions of 1,000,000.
There is some good news as the unemployment rate ticked down to from 6.1% to 5.8%. Employers blame stimulus payments for their struggle to fill millions of job vacancies. Employees continue to grapple with child care and concern over the coronavirus.
Another round of stimulus payments will likely not happen as the Biden Administration continues to push bipartisanship for a jobs plan and a family plan.
Today’s jobs report:— Vice President Kamala Harris (@VP) June 4, 2021
-559k jobs added in May
-A record 2 million jobs created in our 1st 4 months
-Lowest unemployment rate since the start of COVID
-Fastest drop in long-term unemployment in a decade
We’re making historic progress for workers, small businesses, and our economy.
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