The U.S. job market continues its resilient run, adding a slightly better-than-expected 139,000 nonfarm payroll jobs in May, according to data released Friday by the Bureau of Labor Statistics (BLS). This modest gain keeps the national unemployment rate firmly at 4.2%, where it has hovered for the past year.
While the headline numbers signal stability, a deeper dive into the BLS report reveals a nuanced picture of the American workforce.
Who’s Hiring?
The healthcare sector led the charge in May, adding a robust 62,000 jobs, significantly higher than its average monthly gain over the past year. Hospitals saw an increase of 30,000 jobs, ambulatory health care services gained 29,000, and skilled nursing care facilities added 6,000 positions.
READ: Florida Sen. Scott Pushes For Up To $10K Homeowners Insurance Tax Break
Leisure and hospitality also continued its upward trend, growing by 48,000 jobs, with food services and drinking places accounting for 30,000 of those gains. Social assistance chipped in another 16,000 jobs, driven by growth in individual and family services.
Where Are the Soft Spots?
Not all sectors are experiencing growth. Federal government employment continued its decline, shedding 22,000 jobs in May and down a total of 59,000 since January. Manufacturing also saw a slight dip, losing 8,000 jobs.
Unemployment by the Numbers:
The overall unemployment rate of 4.2% reflects a total of 7.2 million unemployed people. A closer look at different demographic groups reveals variations:
- Adult men: 3.9%
- Adult women: 3.9%
- Teenagers: 13.4%
- Whites: 3.8%
- Blacks: 6.0%
- Asians: 3.6%
- Hispanics: 5.1%
READ: Not So Fresh Produce: Cabbage Meth Smuggler Sentenced To 11 Years In Texas
The number of people jobless for less than 5 weeks increased by 264,000 to 2.5 million, while the long-term unemployed (those jobless for 27 weeks or more) decreased by 218,000 to 1.5 million, representing 20.4% of all unemployed people.
Other Key Takeaways:
- The employment-population ratio dipped slightly by 0.3 percentage points to 59.7%.
- The labor force participation rate also saw a small decrease of 0.2 percentage points, settling at 62.4%.
- Average hourly earnings for all private nonfarm payrolls rose by 15 cents, or 0.4%, to $36.24 in May, marking a 3.9% increase over the past 12 months.
- The average workweek remained steady at 34.3 hours for the third consecutive month.
While the May jobs report paints a picture of continued, albeit moderating, job growth, analysts will be watching closely for future trends, particularly as previous months’ job gains for March and April were revised downward by a combined 95,000 jobs.
The labor market remains a key indicator of economic health, and these detailed figures provide valuable insights into its ongoing evolution.
Please make a small donation to the Tampa Free Press to help sustain independent journalism. Your contribution enables us to continue delivering high-quality, local, and national news coverage.
Connect with us: Follow the Tampa Free Press on Facebook and Twitter for breaking news and updates.
Sign up: Subscribe to our free newsletter for a curated selection of top stories delivered straight to your inbox.
