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Led by gains in the leisure and hospitality industry, the U.S. gained 2.5 million jobs in May, an about-face that stunned economists and financial experts, many of whom predicted U.S. unemployment would reach 20% as the Covid-19 pandemic continues. Instead, the rate declined from a historic high for 14.7% in April to 13.3% last month.
“These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it,” the U.S.
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