ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Economy

559,000 Jobs Added in May, Unemployment Rate at 5.8%

June 4, 2021
Reading Time: 1 min read

Total nonfarm payroll employment rose by 559,000 in May, according to the Bureau of Labor Statistics. Total unemployed persons decreased to 9.3 million in May, and the unemployment rate decreased to 5.8%.

Most of the job gains in May were in leisure and hospitality, in public and private education, and in health care and social assistance.

Employment in leisure and hospitality increased by 292,000, as pandemic-related restrictions eased in some parts of the country. Nearly two-thirds of the increase was in food services and drinking places (+186,000). Despite the gains, employment in leisure and hospitality is down by 2.5 million, or 15.0% since February 2020.

The civilian labor force participation rate was unchanged at 61.6%. Persons on temporary layoff fell 290,000 in May to 1.8 million. This measure is 1.1 million higher than the level a year earlier but is down considerably from the recent high of 18.0 million in April 2020. Workers with permanent job loss decreased to 3.2 million.

Read the BLS release.

Tags: Employment situation
ShareTweetPin

Related Posts

ABA Data Bank: Implied volatility falls for both equities and bonds

ABA DataBank: Stable credit risk in corporate bond markets

Economy
March 13, 2026

Corporate bond yields for both investment-grade and high-yield issuers have trended downward since mid-2025.

CFPB releases mortgage servicing proposal, overhauls loss mitigation framework

Trump proposes regulatory overhaul to promote housing finance, construction

Community Banking
March 13, 2026

The White House proposed a series of regulatory changes and rollbacks to expand access to mortgages and spur new housing construction.

Justice Department launches investigation into Fed Chair Powell

Court tosses subpoenas against Fed’s Powell

Legal
March 13, 2026

A federal court has tossed two Justice Department subpoenas against Federal Reserve Chairman Jerome Powell after finding that “a mountain of evidence” exists to suggest the subpoenas were issued to pressure the Fed into lowering interest rates.

ABA Data Bank: Crude oil rises to 10-month high

OFAC lifts Russia oil sanctions for one month

Compliance and Risk
March 13, 2026

OFAC has authorized Russian oil exports through April 11 to ease pressure on rising fuel prices following the start of military operations in Iran.

Study: CDFI microloans lead to better business outcomes for borrowers

Study: CDFI microloans lead to better business outcomes for borrowers

Commercial Lending
March 13, 2026

A recent study of community development financial institution small-dollar loans to microbusinesses found that most borrowers improved their business outcomes, although some entrepreneurs struggled with managing their debt.

Consumer Sentiment declined in April

Consumer sentiment falls in March – preliminary

Economy
March 13, 2026

The University of Michigan Consumer Sentiment Index decreased 1.9% in March compared to the month prior, landing at 55.5, according to preliminary results for the month.

NEWSBYTES

ABA DataBank: Stable credit risk in corporate bond markets

March 13, 2026

Trump proposes regulatory overhaul to promote housing finance, construction

March 13, 2026

Court tosses subpoenas against Fed’s Powell

March 13, 2026

SPONSORED CONTENT

How top agricultural lenders are approaching AI, automation and innovation in 2026

How top agricultural lenders are approaching AI, automation and innovation in 2026

March 2, 2026
Top 7 FP&A Trends in Banking for 2026

Top 7 FP&A Trends in Banking for 2026

March 1, 2026
How Instant Payments Can Accelerate B2B Payments Modernization

How Instant Payments Can Accelerate B2B Payments Modernization

February 3, 2026
Digital Banking: The Gateway to Customer Growth and Competitive Differentiation

Digital Banking: The Gateway to Customer Growth and Competitive Differentiation

February 1, 2026

PODCASTS

Podcast: From stablecoin to fraud, top takeaways from the 2026 ABA Summit

March 13, 2026

Podcast: How the SCAM Act would encourage platforms to go after scammers

February 4, 2026

A new kind of ‘community bank’ for small businesses

January 22, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.