According to a new report from the U.S. Labor Department, the US economy added 217,000 jobs in May. The unemployment rate held steady at 6.3%, which was a five-and-a-half year low.
With May’s job growth, the US has finally recovered all jobs that were lost during the Great Recession.
Those rates align with a Bloomberg survey of 92 economists that projected payrolls would rise by 215,000. Estimates ranged from increases of 110,000 to 350,000.
Economists estimate there are about 7 million more working-age Americans today than there were at the previous employment peak back in January 2008.