US Economy Added 2 million Jobs In May Amid Covid19 Pandemic.


The United States Economy has bounced back as it regains 2.5 million jobs in May and the unemployment rate fell to 13.3%, confounding Wall Street expectations for another big wave of layoffs and signaling the economy began to revive last month from the worst economic crisis since the Great Depression of the 1930s.

As every state began to reopen their economies to some degree in May, the Bureau of labour statistics reported that 2.7 million people who had temporarily lost their jobs amid the Covid19 pandemic returned to work.

However, Covid19 cases in the U.S is still on the increase and as a result many companies are operating at limited capacity, and social-distancing practices are likely to hamstring others that rely on crowds to eke out a profit.

The sometimes violent protests over police brutality and racial prejudice against the blacks might also be a temporary setback for businesses reopening in some of the larger cities.


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