The Latest Numbers From the BLS Employment Situation Report

All eyes were on this morning’s jobs report as Federal Reserve officials are expected to discuss raising the key U.S. interest rate in June. The Bureau of Labor Statistics’ jobs report provides economic data that the Fed uses as key indicators in deciding an interest rate hike, which could happen at their meeting this month.

Economists predictions

Economists predicted 160,000+ job additions ahead of this morning’s jobs report and the report fell very short. Only 38,000 jobs were added this month which is well below the recent 200,000-plus average. Experts point to the now settled Verizon strike that left about 40,000 union workers unemployed as a possible factor. Generally, the economy is considered healthy if 200,000 jobs are added each month.

Let’s break down the national numbers from this month’s report:

Here is a look at the national numbers from this month’s report:

•  Wages:
  • $25.59 May
  • $25.54 April
    • + 5 cents month-over-month
    • +2.5% year-over-year

• Unemployment:
  • 4.7% May
  • 5.0% April
    • -0.3% month-over-month
    • -0.8% year-over-year

In May, hourly wages rose $0.5 to $25.59 per hour, bringing the year-over-year wage percentage increase to 2.5%. The unemployment rate now sits at 4.7%, the lowest rate since November of 2007.

May's #JobsReport shows low #unemployment rate but little #jobs added. See @ajilon's analysis: http://ajilon.co/1O6MwyS

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In-Depth Look: Our Industries

Let’s dive right into a look at how our industries compare to the national numbers:

• Professional and business services
  • Month-over-month change: +10,000
  • +525,000 jobs added since May of last year

•  Construction
  • Month-over-month change: -15,000
  • +219,000 jobs added year-over-year

•  Manufacturing
  • Month-over-month change: -10,000
  • -39,000 jobs lost year-over-year

• Transportation and warehousing
  • Month-over-month change: -500
  • +52,500 year-over-year job gains

• Health care
  • Month-over-month change: +45,700
  • +487,000 jobs added since May of last year

• Hospitals
  • Month-over-month change: +16,500
  • +192,100 jobs added in the last year

• Administrative and support services
  • Month-over-month change: -10,300
  • +176,700 jobs added year-over-year

The market remains ripe for job seekers hoping to snag top HR, non-clinical healthcare and supply chain and logistics jobs and employers will need to stay competitive. For more workforce insights, like how to manage a multigenerational workforce, check out our white paper or visit ajilon.com.

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Ajilon

You've got a very specific area of expertise. So do we. Our recruiters and staffing specialists work with only the best administrative, healthcare, human resources, and supply chain and logistics professionals in the country. That's all we do. Every single day.