Strong Statistics

May’s employment growth of 2.5 million jobs, pushing unemployment to 13.3% from 14.7%, was terrific and implies hiring activity bottomed in April – a month earlier than expected – and the rise in the employment-to-population ratio from 51.3% to 52.8% is proof! That said, there’s a ways to go; unemployment peaked at 10% in the Great Recession and much fiscal support will soon expire. To maintain the recovery, some assistance must continue.