Employers Create 138,000 Jobs in May

By Toni Vranjes

June 2, 2017

The U.S. economy added 138,000 jobs in May, while job growth for the previous two months was revised downward by 66,000.

Over the past year, the monthly employment gain has averaged 181,000, the Labor Department reported.

In an analysis, IHS Markit Chief Economist Nariman Behravesh wrote that the “disappointing” employment gains are “less a sign of weakness and more a signal that the economy is reaching full employment.”

Amid the weakness, professional and business services was a bright spot, with employment gains of 38,000. Other areas that added jobs were food services and drinking places, health care, and mining.

Meanwhile, wages increased by 4 cents last month.

In May, the jobless rate declined from 4.4 percent to 4.3 percent because of a “bad” reason, Behravesh wrote. He attributed the drop to the fact that “a 429,000 drop in the labor force more than offset a 233,000 decline in employment.”

Tags: , , ,

Leave a Reply

(required)

(required)