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.
Laticrete to acquire DuPont Surface Care
Laticrete will purchase the DuPont Surface Care business in a transaction expected to close later this month.
Laticrete will merge the DuPont StoneTech, DuPont Stone Care and DuPont Paver Armor Pro branded products with its existing portfolio of products, which are already placed in professional and retail channels around the world.
“This business is an excellent fit with our strategic approach,” said Ed Metcalf, Laticrete president, North America. “We are excited about working with the team to build on the strong foundation they have put in place and to achieve the full potential of this business in the future. We will continue to focus on providing customers with high-quality products and service to deliver solutions that meet their stone and tile care needs.”
The deal is subject to customary closing conditions and regulatory approvals. The sale price was not released.