Friday’s employment report for May confirmed that the economy is continuing its recovery from the shock of the pandemic. Although the headline figure of five hundred and fifty-nine thousand jobs gained fell a bit short of Wall Street projections, it was more than double the Labor Department’s previous report for job growth in April—two hundred and sixty-six thousand—a number so low that it shocked many economists when it was announced, this time last month. The official unemployment rate fell three-tenths of a point in May, to 5.8 per cent. That’s the lowest level since March, 2020, when the coronavirus shutdowns were just beginning. READ MORE