BLS Data Shows Surprising Job Gains in May

There was positive net job creation in May following April’s disastrous report.

The May jobs report was released by the Bureau of Labor Statistics on Friday, after which the N.Y. Times reported: “Employers added 2.5 million jobs in May, defying economists’ expectations of further losses and offering hope that the rebound from the pandemic-induced economic crisis could be faster than forecast. Still, job openings remain far below normal, and the trillions of dollars in government assistance that have helped keep the economy on life support may be nearing their end.”