The United States unemployment rate fell to 4.7% but the workforce fell by 458,000 people. Only 62.6% of the population is working.
8:42 a.m. So, who was hiring in May?
Healthcare added the most jobs, with 46,000 new jobs in May. That’s more jobs, incidentally, than the total net additions (38,000).
Mining saw a net loss of 10,000 jobs.
Information fell by 34,000. This is the sector that included the striking Verizon workers and it should rebound next month.
Manufacturing jobs fell by 18,000.
Employment in professional and business services added a net 10,000 jobs. Technical services added 26,000, and temp lost 21,000 jobs.
No other sectors added or lost enough jobs for the BLS to mention in its press release. –Paul Vigna
The dollar is tanking. Panicking investors are buying gold. The Euro is strengthening.
The great thing about regulating an economy to death: forced minimum wage hikes, Obamacare rules on full time employees, forced overtime for salaried workers (just to name three off the top of my head), is that everyone is “fairly” miserable together.
Well done, Obama! You manage to make things worse every day.
