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U.S. employers added fewer than expected jobs last month as extended unemployment benefits encouraged workers to stay home.
Employers added 559,000 jobs in May, the Labor Department said Friday, missing the addition of 650,000 jobs that analysts surveyed by Refinitiv were expecting. April’s reading was revised higher by 12,000 to 278,000.
The unemployment rate, meanwhile, declined 0.3 percentage points to 5.8%, its lowest since the pandemic caused businesses to shut their doors in March 2020.
Another example of data that will be skewed by the left promoting failed liberal economics. The target for Biden is 159 million jobs and as states open up there will be returning jobs, not NEW jobs created. I cheer 559,000 Americans returning to work but paying people to stay home and spending 1.9 trillion dollars on a supposed rescue plan isn't incentive for Americans to return to work and fill the over 8 million jobs available according to Commerce.