Unemployment Rate Falls in May

June 1, 2001 (PLANSPONSOR.com) - Monthly unemployment unexpectedly fell to 4.4% in May, the first decrease since September last year.

The figure, reported by the Department of Labor, which fell from 4.5% in April, contrary to analysts’ predictions, comes on the heels of data released yesterday, which showed initial unemployment claims rising by 8,000.

The drop in the unemployment rate, based on a survey of US households, will likely decrease market expectations for further monetary easing.

See also: Job Stats Set For Shake-up