U.S. Labour Market Stands Unexpectedly Tall for May 2020

  • Jun 06, 2020 AEST
  • Team Kalkine

The U.S. economy has unexpectedly added a large number of jobs in May with the Non-Farm Employment standing back into the positive territory after reaching a record low in April 2020.

  • As per the latest data from the Bureau of Labor Statistics, the Non-Farm Employment Change stood at 2.5 million against the previous all-time record of -20.68 million.
  • The employment figures shocked the market and improved substantially against the market anticipation of a decline of 7.75 million.
  • The unemployment rate improved drastically by standing lower against market anticipation of 19.4 per cent at 13.3 per cent for May, which also remained well above its previous value of 14.7 per cent.

 


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