What to Expect from the May Jobs Report: Live Updates

Joblessness for white adults fell to 12.4 percent from 14.2 percent the prior month, and Hispanic worker unemployment declined to 17.6 percent from 18.9 percent. For black workers, however, joblessness was up slightly to 16.8 percent, and unemployment for Asians also increased, to 15 percent from 14.5 percent.

That probably reflects, at least in part, sectoral rebounds.

Construction and leisure and hospitality, sectors where Hispanic workers are heavily represented, rebounded sharply in May. Though it is too soon to tell with just one month of data, it could also reflect the beginning of a common recession pattern: job losses for black workers often continue even as the tide turns and white workers in particular begin to return to work.

Trump cheers jobs report surprise.

President Trump exulted in the surprisingly positive monthly jobs report released on Friday morning, taking to Twitter to claim credit for the improvement and attack his presumptive Democratic opponent on the economy.

The report showed the economy added 2.5 million jobs in May and the unemployment rate fell to 13.3 percent, signs that the labor market has begun to rebound from its lows of the coronavirus recession.

Mr. Trump claimed credit: “Really Big Jobs Report. Great going President Trump (kidding but true)!” he wrote on Twitter.

Article source: https://www.nytimes.com/2020/06/05/business/jobs-report-stock-market-coronavirus.html