WOW! Payrolls up by 2.5 million and the unemployment rate is DOWN to 13.3%
And that drop in the unemployment rate wasn't for the "bad" reason. Labor force participation actually went up
Still a measurement issue though: Unemployment rate would have been about 3 point higher if people "employed but absent" were classified correctly
About half the gains in payroll employment is from leisure and hospitality.
Even the number of involuntary part-time workers was down by 254k
Prime-age EPOP up to 71.4%. That's a increase, but still far lower than what we saw a few months ago. 
Clearly May saw a bounce back in payrolls, but we're still in a huge hole here.
Leisure & hospitality employment still down 41.8% from pre-virus levels
Leisure & hospitality employment still down 41.8% from pre-virus levels
Temporary layoffs are still the largest share of the unemployed
CONTEXT
The fastest growing industries in May is a list of some of the industries hit hardest prior.
The initial bounce back might have started earlier than expected. But don't get too excited, this could be just the bounce off the bottom
Folks, the changes here are big, but please don't forget about the levels!
⬇️ Not clear that the bounce back in May is an indication of forward momentum
Job gains in May were concentrated in lower-wage industries, where job losses since February have been most concentrated.
Another point for the partial bounce back story from the detailed industry data: cumulative hit to employment from Feb to April was a pretty good predictor of job gains in May.
