May Jobs Report Shows ‘Historic Progress,’ According To President Biden

The national unemployment rate declined to 5.8% as employers added 559,000 jobs in May, according to the latest data released by the U.S. Department of Labor. 

Although the number of U.S. jobs is still about 7 million below where it was pre-pandemic, President Biden said the report was a sign of economic recovery.

“Today’s jobs report shows historic progress for American families and the American economy,” President Biden said in a tweet. “We added 559,000 jobs in May, created a record two million jobs in our first four months, and unemployment is at its lowest level since the pandemic started. America is on the move again.”

The job gains were led by restaurants, bars and other food-service establishments, which added 186,000 jobs in May, as pandemic-related restrictions continued to ease and vaccinations continued to roll out. 

That’s positive news for businesses in the service sector, which have ironically faced severe challenges filling positions as they returned to business as usual. 

In an effort to attract workers who have been incentivized to stay home by increased unemployment insurance payouts, businesses in the service industry are raising wages. According to the report, average earnings for non-supervisors in leisure and hospitality were up to $15.90 an hour from $14.80 in April.

Meanwhile, several factors continue to hold back recovery. As the majority of school districts across the country have not yet moved back to in-person learning, millions of female workers continue to remain out of the workforce. And while the Center for Disease Control estimates 41.2% of the U.S. population is fully vaccinated, a recent poll shows one in four Americans said they would refuse a vaccine if offered, putting herd immunity at risk.