U.S. Economy Adds 2.5 Million Jobs in May, Unemployment Rate Falls to 13.3%

The U.S. economy added 2.5 million jobs last month as the nation began its recovery from the coronavirus crisis, the feds said Friday.

The nation’s unemployment rate dropped to 13.3 percent thanks to “a limited resumption of economic activity that had been curtailed” because of the pandemic, the Bureau of Labor Statistics said in its monthly jobs report.

That marked an improvement from the record 14.7 percent unemployment seen in April  and defied expectations for the virus-related job losses to worsen. Economists predicted a 19.8 percent unemployment rate and 8 million lost jobs.

Some parts of the country have allowed businesses to reopen that had closed to control the spread of the deadly virus. Other parts of the economy also hinted at recovery in May, with consumer confidence and manufacturing activity both improving.