Jobs Day: The End of COVID doomsday in the U.S.
Introduction.
The COVID-19 pandemic is an unfortunate health and economic shock that bought the U.S. economy to a grinding halt. However, vaccine rollouts and the gradual reopening of the economy are causing the U.S economy to gradually return to pre-pandemic levels. The U.S. Bureau of Labor Statistics showed that in May 2021, total nonfarm payroll employment rose by 559,000, and the unemployment rate declined by 0.3% to 5.8%. The sectors that were most badly hit by social distancing measures and border closures appear to be recovering, with notable job gains in leisure, hospitality, public and private education as well as health care and social insurance.
In May, the unemployment rate declined by 0.3% to 5.8%, and the number of unemployed persons fell by 496,000 to 9.3 million. These measures are down considerably from their recent highs in April 2020 but remain well above their levels before the coronavirus (COVID-19) pandemic (3.5% and 5.7 million, respectively, in February 2020).
Who is getting employed?
In May, employment in leisure and hospitality increased by 292,000, as pandemic-related restrictions continued to ease in some parts of the country. Nearly two-thirds of the increase was in food services and drinking places (+186,000). Employment also rose in amusements, gambling…
