By Dana Sanchez
Despite 2.5 million U.S. job gains overall in May, Black unemployment rose to its highest level in more than 10 years while the white jobless rate fell for the month, according to the Bureau of Labor Statistics.
Almost half of the job gains were in leisure and hospitality — people classified as temporarily laid off due to the coronavirus-related economic shutdowns.
Economists surveyed by Dow Jones had been expecting the unemployment rate to rise from 14.7 percent in April to 19.5 percent in May as the coronavirus dealt a devastating blow to people’s livelihoods, CNBC reported.
Instead, the May jobless rate declined to 13.3 percent overall, with Black unemployment rising to 16.8 percent and white unemployment sinking to 12.4 percent, according to the Bureau of Labor Statistics.
Reopening the economy during the coronavirus pandemic has resulted in the biggest one-month job gains in U.S. history since at least 1939. The only other time more than 1 million jobs Click here to read entire article