The US regained 2.5-million jobs in May and the unemployment rate dropped as coronavirus shutdowns began to ease, raising hopes the economy could recover from the crisis sooner than expected.

The labour department report on Friday, which showed the jobless rate shrink to 13.3% from 14.7% the month before, defied even the most optimistic expectations among economists, who had been expecting job losses of more than 8-million and a jobless rate of 20% or higher.

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