Courtesy of Mish.
Initial Reaction
Today’s job report (for May) showed good numbers for the labor force, establishment jobs, and household employment. In contrast to April, this month’s report was not marred by huge growth in part-time employment.
Household survey employment rose by 272,000 while unemployment rose by 125,000. That means more people actively seek jobs. They are back in the labor force. As a result, the unemployment rate rose by 0.1% to 5.5%.
Let’s take a look at all the key numbers.
BLS Jobs Statistics at a Glance
- Nonfarm Payroll: +280,000 – Establishment Survey
- Employment: +272,000 – Household Survey
- Unemployment: +125,000 – Household Survey
- Involuntary Part-Time Work: +72,000 – Household Survey
- Voluntary Part-Time Work: -95,000 – Household Survey
- Baseline Unemployment Rate: +0.1 to 5.5% – Household Survey
- U-6 unemployment: +0.0 to 10.8% – Household Survey
- Civilian Non-institutional Population: +189,000
- Civilian Labor Force: +397,000 – Household Survey
- Not in Labor Force: -208,000 – Household Survey
- Participation Rate: +0.1 to 62.9 – Household Survey
March 2015 Employment Report
Please consider the Bureau of Labor Statistics (BLS) Current Employment Report.
Total nonfarm payroll employment increased by 280,000 in May, and the unemployment rate was essentially unchanged at 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, leisure and hospitality, and health care. Mining employment continued to decline.
Unemployment Rate – Seasonally Adjusted
Nonfarm Employment…
