U.S. hiring races to record high in May, layoffs abate – ZAWYA

U.S. hiring races to record high in May, layoffs abate – ZAWYA

U.S. hiring races to record high in May, layoffs abate | ZAWYA MENA Edition HomeEconomyGlobalArticleU.S. hiring races to record high in May, layoffs abate Hiring in May was driven by the accommodation and food services industry    WASHINGTON- U.S. hiring surged to a record high in May and layoffs declined as businesses reopened, but the signs of improvement in the labor market have been overshadowed by a resurgence in COVID-19 cases that has forced some enterprises to shut down again.The Labor Department said on Tuesday in its monthly Job Openings and Labor Turnover Survey, or JOLTS, hiring accelerated by 2.4 million jobs to 6.5 million, the highest level since the government started tracking the series in 2000. The hiring rate jumped to an all-time high of 4.9% from 3.1% in April.The report followed on the heels of news last Friday that the economy created a record 4.8 million jobs in June. Nonfarm payrolls have rebounded after a historic plunge of 20.787 million in April as the labor market reeled from the closure of businesses in mid-March to slow the spread of the coronavirus.The Labor Department said on Tuesday in its monthly Job Openings and Labor Turnover Survey, or JOLTS, hiring