May Job Growth Down 69 Percent Over April
Atlanta, GA (PRWEB) July 01, 2016 -- A monthly report released by the U.S. Bureau of Labor Statics on Friday, June 3, revealed a marginal increase of 38,000 in the number of employed persons for the month of May.
The Economic Situation report revealed a 69 percent decrease in the number of jobs gained, dropping from 123,000 in April to 38,000 jobs in May. Comparatively, job growth hit 273,000 jobs in May 2015, a difference of 151 percent.
Unemployment for the month declined by 0.3 percentage point to 4.7 percent while the number of unemployed persons declined by 484,000 to 7.4 million. Over the last 12 months, the unemployment rate has dropped by 0.8 percentage point from 5.5 percent in May 2015.
Last month, employment increases primarily occurred in health care, which gained 46,000 jobs. Within the health care sector, ambulatory health care services gained 24,000 jobs, hospitals gained 17,000 jobs, and nursing care facilities gained 5,000 jobs. Over the year, health care employment has increased by 487,000.
Both mining and information lost jobs last month. Employment in mining continued to decline (-10,000 jobs), while losses in information (-34,000 jobs) were largely due to a strike within the telecommunications industry.
Total nonfarm payroll employment for March and April was revised from 208,000 to 186,000 jobs, and 160,000 to 123,000 jobs, respectively. With these revisions, employment gains for both months combined were 59,000 less than previously reported.
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Bob Thomas, RSG, Inc., http://www.insurancejobs.com, +1 770-425-8576, [email protected]
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