US job growth picks up in May; unemployment rate falls to 5.8% | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Tuesday
July 01, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
TUESDAY, JULY 01, 2025
US job growth picks up in May; unemployment rate falls to 5.8%

USA

Reuters
04 June, 2021, 04:20 pm
Last modified: 04 June, 2021, 07:05 pm

Related News

  • US Congressman Joe Wilson introduces bill to sanction Polisario Front as terrorist organisation
  • BNP plans to create 10 million jobs in 18 months if voted to power: Amir Khasru
  • White House wants deep cut in US funding for war crimes investigations, sources say
  • ‘Very dangerous’ if US enters war, says Tehran as Israel targets Iran commanders
  • Israel-Iran War: Russia says Israel's attacks illegal, UAE warns of 'uncalculated, reckless steps'

US job growth picks up in May; unemployment rate falls to 5.8%

The improving public health situation and massive fiscal stimulus are supporting the economy. At least half of the American population has been fully vaccinated against Covid-19, according to data from the US Centers for Disease Control and Prevention

Reuters
04 June, 2021, 04:20 pm
Last modified: 04 June, 2021, 07:05 pm
A retail store advertising a full time job on its open door in Oceanside, California, U.S., May 10, 2021. REUTERS/Mike Blake
A retail store advertising a full time job on its open door in Oceanside, California, U.S., May 10, 2021. REUTERS/Mike Blake

US employers boosted hiring in May as the easing pandemic, helped by vaccinations, pulled more people back into the labor force, offering assurance that the economy's recovery from the Covid-19 recession remained on track.

Nonfarm payrolls increased by 559,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for April was revised slightly higher to show payrolls rising by 278,000 jobs instead of 266,000 as previously reported.

Economists polled by Reuters had forecast 650,000 jobs created in May. The unemployment rate fell to 5.8% from 6.1% in April. The jobless rate has been understated by people misclassifying themselves as being "employed but absent from work."

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

April's initial employment count, which delivered roughly a quarter of the new jobs economists had forecast, led to handwringing among some economists and investors that growth was stagnating at a time when inflation was rising.

The improving public health situation and massive fiscal stimulus are supporting the economy. At least half of the American population has been fully vaccinated against Covid-19, according to data from the US Centers for Disease Control and Prevention.

That has allowed authorities across the country to lift virus-related restrictions on businesses, which nearly paralyzed the economy early in the pandemic.

But the reopening of the economy is straining the supply chain.

A worker shortage blamed on childcare complications, generous unemployment checks and lingering fears over Covid-19 sharply restrained hiring. There are a record 8.1 million job openings.

Millions of workers, mostly women, remain at home as most school districts have not moved to full-time in-person learning.

Despite vaccines being widely accessible, some segments of the population are reluctant to get inoculated, which labor market experts say is discouraging some people from returning to work.

Government-funded benefits, including a $300 weekly unemployment subsidy, are also constraining hiring. Republican governors in 25 states are terminating this benefit and other unemployment programs funded by the federal government for residents starting next Saturday.

These states account for more than 40% of the workforce. The expanded benefits will end in early September across the country. That, together with more people vaccinated and schools fully reopening in the fall, is expected to ease the worker scarcity by September.

World+Biz

US / Job / growth / workers / shortage / challenge

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Chief Adviser Muhammad Yunus and US Secretary of State Marco Rubio. Photos: Collected
    Rubio calls Yunus, discusses economic ties as US tariff negotiation goes on
  • Representational image. File photo: TBS
    Ships depart, cargo operation in full swing as Ctg port starts clearing containers
  • NBR Office in Dhaka. File Photo: Collected
    NBR officers should captain revenue authority, businesses tell finance adviser

MOST VIEWED

  • Return to work or face stern action, govt warns protesters as NBR jobs declared 'essential services'
    Return to work or face stern action, govt warns protesters as NBR jobs declared 'essential services'
  • Representational image. Photo: UNB
    After 58 yrs, Ctg getting two new govt schools
  • Remittance inflow hits record $30b in FY25
    Remittance inflow hits record $30b in FY25
  • Officials of the NBR, under the banner of the NBR Unity Council, continued their protest on Sunday since 9am. Photo: Syed Zakir Hossain/TBS
    NBR staff call off protest as govt goes tough
  • Record $30b remittance lifts reserves to $26b
    Record $30b remittance lifts reserves to $26b
  • A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. Chevron will report earnings on April 26. REUTERS/Mike Blake
    Chevron to resume Jalalabad gas project after Petrobangla clears $237m dues

Related News

  • US Congressman Joe Wilson introduces bill to sanction Polisario Front as terrorist organisation
  • BNP plans to create 10 million jobs in 18 months if voted to power: Amir Khasru
  • White House wants deep cut in US funding for war crimes investigations, sources say
  • ‘Very dangerous’ if US enters war, says Tehran as Israel targets Iran commanders
  • Israel-Iran War: Russia says Israel's attacks illegal, UAE warns of 'uncalculated, reckless steps'

Features

Illustration: TBS

Ulan Daspara: Remnants of a fishing village in Dhaka

8h | Panorama
Photo: Collected

Innovative storage accessories you’ll love

1d | Brands
Two competitors in this segment — one a flashy newcomer, the other a hybrid veteran — are going head-to-head: the GAC GS3 Emzoom and the Toyota CH-R. PHOTOS: Nafirul Haq (GAC Emzoom) and Akif Hamid (Toyota CH-R)

GAC Emzoom vs Toyota CH-R: The battle of tech vs trust

1d | Wheels
Women farmers, deeply reliant on access to natural resources for both farming and domestic survival, are among the most affected, caught between ecological collapse and inadequate structural support. Photo: Shaharin Amin Shupty

Hope in the hills: How women farmers in Bandarban are weathering the climate crisis

1d | Panorama

More Videos from TBS

Committee led by DC-UNOs to set up polling stations cancelled

Committee led by DC-UNOs to set up polling stations cancelled

5h | TBS Today
What is the reason behind Russia's refusal to go to war against Israel?

What is the reason behind Russia's refusal to go to war against Israel?

6h | Others
BNP Blamed by Parties as Reforms Lag

BNP Blamed by Parties as Reforms Lag

6h | TBS Today
What are the problems with foreign investment in the renewable energy sector in the country?

What are the problems with foreign investment in the renewable energy sector in the country?

7h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net