In May, 559,000 new jobs were created in the USA

The US economy created 559,000 new jobs in May 2021 and the unemployment rate fell to 5.8 percent. This was announced on Friday by the Washington Ministry of Labor, according to which vaccination against COVID-19 disease helped companies to reopen their gates and recruit people. Although the May increase in employment was much greater than in April, when the economy created only 278,000 new jobs after the revision, it still lagged behind analysts' estimates. They predicted that 650,000 new jobs would be created in the US in May after an increase in employment of 266,000 in April before the revision. And although the pace of employment growth is accelerating, in May 2021, there were still 7.6 million fewer jobs in the US economy than in February 2020, the last month before the outbreak of the new coronavirus. Last month, sectors that severely damaged the blockades to stop the pandemic contributed largely to employment growth. For example, the leisure and hospitality sector added 292,000 jobs last month, two-thirds of them in businesses such as bars and restaurants. 35,000 jobs were created in accommodation establishments and 58,000 jobs in the entertainment, gambling and recreation sectors. But the leisure and hospitality sector still has 2.5 million fewer jobs than in February 2020, the report said. The Labor Department added that the US unemployment rate fell to 5.8 percent in May from 6.1 percent in April, while economists expected it to fall to 5.9 percent.