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May's Employment Situation

On June 1, the Bureau of Labor Statistics reported that total nonfarm payroll increased by 223,000 in May. The unemployment rate fell to 3.8 percent, tying lows from 1969 and 2000. Retail trade (+31,000), healthcare (+29,000), and construction (+25,000) saw the largest sector gains. The labor force participation rate was 62.7 percent. Total nonfarm payroll revisions for March (+20,000) and April (-5,000) were also reported. The full report is available here.

For more information about the basics of employment, read Making Sense of Employment Data by Scott Wolla.