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Home Economy

390,000 jobs added in May, unemployment rate at 3.6%

June 3, 2022
Reading Time: 1 min read
428,000 jobs added in April, unemployment rate at 3.6%

Total nonfarm payroll employment rose by 390,000 in May, according to the Bureau of Labor Statistics. Total unemployed persons remained essentially unchanged at 6.0 million in May, and the unemployment rate remained unchanged at 3.6%.

Most of the job gains in May were in leisure and hospitality, in professional and business services, and in transportation and warehousing.

Employment in leisure and hospitality expanded by 84,000 in May, reflecting job gains in food services and drinking places (+46,000) and in the accommodation industry (+21,000). Since February 2020, employment in leisure and hospitality is down by 1.3 million, or 7.9%.

Employment in professional and business services rose by 75,000 in May. Within the industry, job gains occurred in accounting and bookkeeping services (+16,000), computer systems design and related services (+13,000), and scientific research and development services (+6,000). Employment in professional and business services is 821,000 higher than in February 2020.

Employment in transportation and warehousing rose by 47,000 in May. Within the industry, job gains occurred in warehousing and storage (+18,000), truck transportation (+13,000), and air transportation (+6,000). Employment in transportation and warehousing is 709,000 above its February 2020 level.

The civilian labor force participation rate was little changed at 62.3%. The number of persons on temporary layoff was declined slightly over the month to 810,000, and is little changed from its February 2020 level. Workers with permanent job loss remained at 1.4 million, and is little different from its February 2020 level.

Read the BLS release.

Tags: Employment situation
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