Economy adds 559K jobs in May, unemployment down to 5.8 percent

In a mild improvement over the previous month, the labor market added 559,000 jobs in May, according to Labor Department data released Friday.

Economists had expected roughly 671,000 new jobs, itself a significant step up from April’s disappointing 266,000.

The unemployment rate fell to 5.8 percent, down from 6.1 the previous month.