The U.S. labor market snapped back to life in May, restoring a chunk of the jobs it lost in the first two months of the coronavirus pandemic while facing big obstacles in the months ahead.
After two months of carnage, employers added 2.5 million jobs last month, the most jobs added in a single month on records dating from 1948. The jobless rate fell to 13.3% from April’s 14.7%, a post-World War II high.