Leisure and Hospitality drive jobs number higher

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Key Take Away

The employment rate decreased slightly and job numbers rose for the first time since the coronavirus crisis began.

The May jobs numbers showed an unexpected jump in payrolls as certain sectors like leisure and hospitality made a comeback that dramatically beat estimates and surprised economists and market observers.

Non-farm payrolls jumped 2.509 million in May, compared to an expected loss of 7.5 million. Leisure and hospitality sectors, which had been hit sharply by the coronavirus’s shutdowns, added 1.239 million jobs, the largest rebound. Food services and drinking places employment grew by 22%.

The challenge for restaurants reopening is that they must do so with some measure of social distancing in place; being restricted to lower capacities could pose a threat to many more hospitality jobs coming back.

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money.yahoo.com/leisure-and-hospitality-drive-jobs-numbers-higher-142522323.html

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Payroll gains were broad-based in the May 2020 jobs report.

Payroll gains were broad-based in the May 2020 jobs report.money.yahoo.com/leisure-and-hospitality-drive-jobs-numbers-higher-142522323.html