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Rickdogg44

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U.S. unemployment rate falls to 13.3%
Yahoo is now a part of Verizon Media

The May jobs report showed an unexpected rise in the number of non-farm payrolls in the economy and a drop in the unemployment rate from April, averting what economists expected would be a rise in the jobless rate to the highest level since the Great Depression amid the coronavirus pandemic.

The Labor Department released the May jobs report Friday at 8:30 a.m. ET. Here were the main results from the report, compared to Bloomberg consensus data:

  • Change in non-farm payrolls: +2.509 million vs. -7.5 million expected and -20.687 million in April

  • Unemployment rate: 13.3% vs. 19.0% expected and 14.7% in April

  • Average hourly earnings month on month: -1.0% vs. +1.0% expected and +4.7% in April

  • Average hourly earnings year on year: +6.7% vs. +8.5% expected and +8.0% in April
 
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