It’s the start of the month, and you know what that means — the May 2017 jobs report is out. We’ve put together a short list of everything you need to know as you go.
What You Need To Know:
- Total employment increased by 138,000 in May, though the unemployment rate barely budged, hovering at 4.3 percent (6.9 million people.)
- The employment rate is the lowest it has been since May 2011.
- The number of people who lost jobs, or completed temporary employment dropped by 211,000, to 3.3 million.
- Employment in healthcare and mining saw substantial increases. In healthcare, 24,000 jobs were added, with hospitals adding 7,000 jobs and ambulatory health care services adding 13,000 jobs.
- Mining added 7,000 jobs in May, with a total high of 47,000 jobs added since reaching a low point in Oct. 2016.
- Other notable increases were in business and professional services, which saw a 38,000 uptick, and the food service industry, which saw a 30,000 gain.
- The top reason for unemployment was completion of temporary employment and job loss. Other reasons include those who left their jobs, re-entrants, and those entering the workforce for the first time.
Duration of unemployment saw a general shift towards longer waiting times, with increases for those reporting unemployment from five weeks to 27 weeks or more.
Want more? Read the full report from the Bureau of Labor Statistics here.