File - Applicants listen to instructions for attending a combined Metropolitan Transportation Authority and Harlem Week job and career fair in New York Thursday.
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U.S. employers kept up a solid pace of hiring in May, returning employment to its pre-recession level and offering confirmation the economy has snapped back from a winter slump.Despite decelerating from April's outsized 282,000 gain, when hiring was still bouncing back from a winter lull, May marked a fourth straight month with job gains above 200,000 and an important milestone in the economy's recovery.It finally recouped the 8.7 million jobs lost during the recession. The unemployment rate held steady at a five-and-a-half year low of 6.3 percent in May even as some Americans who had given up the search for work resumed the hunt.A measure of underemployment that includes people who want a job but who have given up searching and those working part-time because they cannot find full-time jobs fell to 12.2 percent, the lowest since October 2008 .
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