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Economy Gains 75,000 Jobs in May; Unemployment Steady at 3.6%

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The U.S. economy gained 75,000 jobs in May, and the unemployment rate remained at 3.6%, according to figures released this morning by the U.S. Bureau of Labor Statistics. Wage growth of 3.1% was lower than last month’s 3.4% and, a downward revision of 75,000 for the job numbers for March and April signals that the Federal Reserve’s Open Market Committee needs to inch down interest rates.

In response to the May job numbers, AFL-CIO Chief Economist William Spriggs tweeted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Last month’s biggest job gains were in professional and business services (33,000), health care (16,000) and construction (4,000). Employment in other major industries, including mining, manufacturing, wholesale trade, retail trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government, showed little change over the month.

Among the major worker groups, the unemployment rates fell for blacks (6.2%). The unemployment rates for teenagers (12.7%), Hispanics (4.2%), adult men (3.3%), whites (3.3%), adult women (3.2%) and Asians (2.5%) showed little or no change in May.

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed in May and accounted for 22.4% of the unemployed.

This blog was originally published by the AFL-CIO on June 7, 2019. Reprinted with permission. 

About the Author: Kenneth Quinnell is a long-time blogger, campaign staffer and political activist. Before joining the AFL-CIO in 2012, he worked as labor reporter for the blog Crooks and Liars.


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Economy Gains 155,000 Jobs in November; Unemployment Unchanged at 3.7%

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The U.S. economy gained 155,000 jobs in November, and unemployment was unchanged at 3.7%, according to figures released this morning by the U.S. Bureau of Labor Statistics. The labor market can be a leading indicator for the economy. Soft wage growth has been accompanied by weaker auto sales than typical for this low level of unemployment, leading General Motors to plan plant closings, and slowing home sales point to stresses for workers and the household sector of the economy. The Federal Reserve needs to move with great caution and hold off on more rate increases.

Last month’s biggest job gains were in health care (32,000), professional and business services (32,000), manufacturing (27,000), transportation and warehousing (25,000) and retail trade (18,000). Employment in other major industries—including mining, construction, wholesale trade, information, financial activities, leisure and hospitality, and government—showed little change over the month.  

Among the major worker groups, the unemployment rates for teenagers (12%), blacks (5.9%), Hispanics (4.5%), adult women (3.4%), whites (3.4%), adult men (3.3%) and Asians (2.7%) showed little or no change in November.

The number of long-term unemployed (those jobless for 27 weeks or more) declined slightly in November and accounted for 20.8% of the unemployed.

This blog was originally published by the AFL-CIO on December 7, 2018. Reprinted with permission. 

About the Author: Kenneth Quinnell is a long-time blogger, campaign staffer and political activist. Before joining the AFL-CIO in 2012, he worked as labor reporter for the blog Crooks and Liars.


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