US adds 559,000 jobs in May as fears of hiring slowdown fade

News comes one month after labor department announced US added just 266,000 jobs, far below the 1m gain expected for April

The US added 559,000 jobs in May as the coronavirus pandemic receded, shaking off fears of a substantial slowdown in hiring after April's disappointing monthly report.

The Bureau of Labor Statistics said on Friday that the unemployment rate had fallen to 5.8% from 6.1% in April, still significantly higher than the 3.8% unemployment rate recorded in February 2020 before Covid 19 hit the US but less than half its 14.8% peak in April last year.