Defying predictions of historic losses, economy gains 2.5M jobs and unemployment eases to 13.3% as businesses start to reopen amid COVID-19

The economy unexpectedly gained 2.5 million jobs in May after record losses the prior month as states began allowing businesses shuttered by the coronavirus to reopen and many Americans returned to work.

The unemployment rate fell to 13.3% from April's 14.7%, which was the highest since the Great Depression.

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