Unemployment Unexpectedly Drops, But Full Recovery Not Imminent

(CBSNewYork) — Unemployment took a surprising turn in May. The official rate, as reported by the Bureau of Labor Statistics Friday morning, dropped to 13.3 percent, down from its 14.7 percent peak in April. (The actual unemployment rate is likely somewhat higher.) While tens of millions of jobs have been lost during the coronavirus shutdown, some are starting to come back.
Last month’s turnaround offers plenty of cause for hope. Unemployment is widely believed to have peaked. First-t