May's Employment Situation
The U.S. Bureau of Labor Statistics (BLS) reported that total nonfarm payroll employment increased by 138,000 in May and the unemployment rate was little changed at 4.3%. Job gains occurred in business and professional services (+38,000), food services (+30,000), health care (+24,000), and mining (+7,000). The BLS also revised downward the total nonfarm payroll numbers for March and April. March’s total nonfarm payroll was revised down from +79,000 to +50,000, and April’s was revised down from +211,000 to +174,000, a total reduction of 66,000.