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U.S. Companies are Hiring Again

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U.S. employers hired more staff in May, while the world’s largest economy continued to recover from the corona crisis.

 

Aided by the rapid pace of the vaccination campaign, many people returned to the labour market in the United States.

Excluding the agricultural sector, 559,000 jobs were created. This means that job growth has clearly picked up again in May, after the significant dip in April. All told, about 5.8 percent of the U.S. workforce is now unemployed. That was 6.1 percent in April.

The reopening of shops and catering establishments increased the demand for labour in those sectors. There was also more work in education. But the jobs figure released by the U.S. government on Friday was lower than economists had generally expected. On the other hand, their estimate of unemployment was slightly more pessimistic than the jobs report now says.

A month ago, the monthly jobs report was a bit of a disappointment, indicating that the U.S. job market was also still struggling with the pandemic. According to an adjusted figure, 278,000 jobs were added in April, which was originally expected to add nearly 1 million jobs.

The setback in April was mainly due to the disappearance of temporary agency work. In addition, jobs were lost among couriers and parcel carriers, for whom there was a lot of extra demand during the height of the lockdowns.

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