U.S. adds healthy amount of jobs in May

Though the U.S. economy pushed an above-average pace in adding 217,000 jobs in May, unemployment stayed flat at 6.3%, its lowest level since November 2008.

Also significantly, the labor participation rate was virtually unchanged at 62.8% in May, as were the number of unemployed persons at 9.8 million.

Those who fall into the long-term unemployed category (jobless for 27 weeks or more) were similarly flat at 3.4 million. That number has declined by 979,000 over the past year.

Most of May's jobs gains were concentrated in the professional & business services industry, as well as health care & social assistance.

Employment in construction, wholesale trade and retail trade showed little change over the month.

Manufacturing was relatively static, though its jobs gains over the past year now total 105,000. Most of that progress is thanks to the durable goods industry, which added 17,000 jobs in May.

Login or Register to post a comment.