US unemployment expected to have fallen to pre-pandemic level in May

The US unemployment rate is expected to have inched back down to its pre-pandemic level in May, despite the monthly pace of jobs growth being forecast to slow slightly, as employers grapple with a historically tight labour market.

Employers in the world’s largest economy are set to have added 325,000 jobs in May, according to a consensus forecast compiled by Bloomberg, a slightly slower pace than the 428,000 positions created during…