In May, non-farm payrolls advanced by 69,000, which was down from the revised 77,000 increase observed in April (previously reported: 120,000 jobs). The figure was well below market expectations, which had anticipated payrolls rising by 150,000, and marked, in fact, the smallest job gain recorded in a year. The private sector continued to be entirely responsible for new hiring by adding 82,000 jobs. Education and health services as well as transportation and warehousing recorded the largest gains, while employment was down in construction. Meanwhile, the public sector maintained the negative trend seen throughout the past year, shedding 13,000 jobs. Despite the slowdown in the pace of job creation, the monthly figure marks the 20th consecutive month with gains in non-farm payrolls and the U.S. economy has now recovered 3.8 million jobs since February 2010, which marked the trough of the crisis in the labour market. That said, despite the improvement seen in the past two years, the economy still remains 5.0 million jobs below the peak reached in January 2008. Meanwhile, the unemployment rate inched up from 8.1% in April to 8.2% in May. That said, the figure mainly reflected an increase in the labour force, which gained 642,000 people over the previous month. The labour force participation rate rose from 63.6% in April to 63.8% in May.
United States Unemployment
Labour market hits soft patch
June 1, 2012
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Note: Month-on-month variation of non-farm payrolls in thousands and unemployment rate, seasonally adjusted in %.
Source: Bureau of Labor Statistics.
United States Economic News
United States: Clinton’s lead over Trump widens but presidential election results are still uncertain
October 20, 2016
Only a few weeks ahead of the 8 November presidential elections, major polls suggest that Hillary Clinton has extended her lead over Donald Trump, but the presidential race will be decided in the most fiercely contested states.
October 14, 2016
In September, nominal retail sales expanded 0.6% over the previous month.
October 7, 2016
Non-farm payrolls grew 156,000 in September, which came in below August’s upwardly-revised increase of 167,000 (previously reported: +151,000).
October 3, 2016
The ISM manufacturing index increased more than expected in September and returned to expansionary territory, after a temporary setback in August.
September 27, 2016
The S&P/Case-Shiller 20-city home composite index rose 0.6% in July over the previous month.