Friday, June 1, 2012

U.S. Added 69,000 Jobs in May

This morning the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment and the unemployment rate both saw little change in May.

The U.S. added 69,000 jobs in May (seasonally adjusted), far below the average monthly gain of 226,000 seen in the first quarter of 2012. Health care employment (+33,000 jobs) rose in May, along with transportation and warehousing (+36,000), wholesale trade (+16,000), and manufacturing (+12,000). Construction employment dropped by 18,000 jobs over the month. 

Between May 2011 and May 2012, the nation gained 1.8 million jobs.

The unemployment rate was 8.2 percent in May, essentially unchanged from April's rate of 8.1 percent. The BLS notes that among major worker groups, unemployment rates rose for men (7.8%) and the Hispanic population (11.0%). The rates for women (7.4%) and teens (24.6%), along with white (7.4%) and black (13.6%) populations showed little or no change in May. 

More details are available in the full BLS Employment Situation news release.

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