- The increase this month is a 0.3% growth, bringing the total number of jobless to 6.1M.
- There was also a change to April’s employment growth numbers in the updated report.
The unemployment rate in the United States rose to 3.7% in May, according to the latest figures from the Bureau of Labor Statistics (BLS). In addition, there were an additional 339,000 nonfarm payroll employment created for the economy last month. The increase this month is a 0.3% growth, bringing the total number of jobless to 6.1 million.
Furthermore, the employment growth numbers were significantly different from predictions of adding 180,000 jobs. As a result, May’s growth rate surpassed April’s revised rate of expansion, as reported by the BLS.
Layoffs Decreased Between March and April
There was also a change to April’s employment growth numbers in the updated BLS report. Bringing the total number of people counted up from 253,000 to 294,000. However, March’s revised figures on employment growth increased from 165,000 to 217,000.
The unemployment rate in April, which stood at 3.4%, was below expectations, which had been set at 3.5%. The Job Openings and Labor Turnover Survey (JOLTS) data, which was issued on Wednesday, also showed a reversal of previous trends in the employment market. Specifically, March and April saw an uptick in vacancies following months on the down.
The number of available jobs increased by 358,000 to 10.1 million in February and March, after having dropped below the 10 million barrier. The poll also found that the number of layoffs decreased between March and April. In fact, the number went down by 264,000, and now stands at 1.6 million.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.