Bad news for the Democrats:
The most
recent figures from the Bureau of Labor Statistics show that
unemployment rates were lower in May in 38 states and the District of Columbia, higher in 3 states, and remained unchanged in 9 states.
The national unemployment rate declined by 1.4 percentage points over the month to 13.3 percent as the U.S. economy added a remarkable 2.5 million jobs in May, rebounding from April’s record 20.7 million drop.
Analysts polled by Reuters expected the national unemployment rate to soar to a historic 19.8 percent.
“The numbers are a huge surprise to the upside,” said Michael Arone, chief investment strategist at State Street Global Advisors in Boston. “It would suggest a further confirmation the economy is coming back online,” Arone added. “This is a strong signal that the effects are temporary and that the economy is improving."
