From Texas Association of Business
The May numbers suggest an economic upturn may be at hand, reports CNBC.
The numbers: “Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3% according to data Friday from the Labor Department that was far better than economists had been expecting.”
Beating expectations: “Economists surveyed by Dow Jones had been expecting payrolls to drop by 8.333 million and the unemployment rate to rise to 19.5% from April’s 14.7%.”
A historic jump: “The May gain was by far the biggest one-month jobs gain in U.S. history since at least 1939.”