US Payrolls Rise in Line With Expectations in May


United States added 217,000 jobs in May following a 282,000 increase in April. The biggest gains were reported in professional and business services, health care and social assistance and food services and drinking places.

Professional and business services added 55,000 jobs in May, the same as its average monthly job gain over the prior 12 months. The industry added 7,000 jobs each in computer systems design and related services and in management and technical consulting. Employment in temporary help services continued to trend up (+14,000) and has grown by 224,000 over the past year.

Health care and social assistance added 55,000 jobs. The health care industry added 34,000 jobs over the month, twice its average monthly gain for the prior 12 months. Within health care, employment rose in May by 23,000 in ambulatory health care services and by 7,000 in hospitals. Employment rose by 21,000 in social assistance, compared with an average gain of 7,000 per month over the prior 12 months.

Within leisure and hospitality, employment in food services and drinking places continued to grow, increasing by 32,000 in May and by 311,000 over the past year.

Transportation and warehousing employment rose by 16,000 in May. Manufacturing employment changed little over the month but has added 105,000 jobs over the past year. Within the industry, durable goods added 17,000 jobs in May and has accounted for the net job gain in manufacturing over the past 12 months.

After revision, the change in total nonfarm employment for March remained +203,000, and the change for April was revised from +288,000 to +282,000. With these revisions, employment gains in March and April were 6,000 lower than previously reported.

In May, 192,000 people entered the labor force, almost matching the number who found jobs. The participation rate, held at 62.8 percent, the lowest level since March 1978.

The increase in payrolls put total employment beyond its peak of 138.4 million reached in January 2008. The number of employees on payrolls stood at almost 138.5 million. 


US Payrolls Rise in Line With Expectations in May


BLS | Nuno Fontes | nuno@tradingeconomics.com
6/6/2014 1:54:54 PM