November 16, 2021

Wall Street soars after US economy adds 559,000 jobs in May

New York, NY-Strong employment statistics pushed up US stocks on Friday.

“Today, the Bureau of Labor Statistics reported that the U.S. economy added 559,000 jobs in May and the unemployment rate was 5.8%, down from 6.1% in April to the lowest level since March 2020. “. Labor Secretary Marty Walsh said: statement Released on Friday. “This data shows the continued growth of solid employment and efforts through the American Relief Program to vaccinate Americans and support families, small businesses, schools, and childcare providers, but the economy resumes. It reflects strong evidence that it is working on a rebuild. “

Yung-Yu Ma, Chief Investment Strategist at BMO Wealth Management, said: Told to CNN Friday. “This still shows that the job market is growing strongly, but not strong enough to raise concerns that the Federal Reserve will have to withdraw its stimulus.”


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