{"id":121980,"date":"2021-06-04T09:29:47","date_gmt":"2021-06-04T16:29:47","guid":{"rendered":"http:\/\/69.46.6.243\/?p=121980"},"modified":"2021-06-04T09:29:47","modified_gmt":"2021-06-04T16:29:47","slug":"the-us-economy-added-559000-jobs-in-may-unemployment-rate-drops-to-5-8","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=121980","title":{"rendered":"The US Economy Added 559,000 Jobs in May &#038; Unemployment Rate Drops to 5.8%"},"content":{"rendered":"<p>Washington, DC&#8230;Total nonfarm payroll employment rose by 559,000 in May, and the unemployment rate declined by 0.3 percentage point to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in public and private education, and in health care and social assistance. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.<\/p>\n<p><a href=\"https:\/\/dailytide.com\/wp-content\/uploads\/2021\/06\/civilian-unemployment-ra.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-9462\" src=\"https:\/\/dailytide.com\/wp-content\/uploads\/2021\/06\/civilian-unemployment-ra.jpeg\" alt=\"\" width=\"640\" height=\"549\" \/><\/a><\/p>\n<p>Household Survey Data<\/p>\n<p>In May, the unemployment rate declined by 0.3 percentage point to 5.8 percent, and the<br \/>\nnumber of unemployed persons fell by 496,000 to 9.3 million. These measures are down<br \/>\nconsiderably from their recent highs in April 2020 but remain well above their levels<br \/>\nprior to the coronavirus (COVID-19) pandemic (3.5 percent and 5.7 million, respectively,<br \/>\nin February 2020). (See table A-1. See the box note at the end of this news release for<br \/>\nmore information about how the household survey and its measures were affected by the<br \/>\ncoronavirus pandemic.)<\/p>\n<p>Among the major worker groups, the unemployment rates declined in May for teenagers (9.6<br \/>\npercent), Whites (5.1 percent), and Hispanics (7.3 percent). The jobless rates for adult<br \/>\nmen (5.9 percent), adult women (5.4 percent), Blacks (9.1 percent), and Asians (5.5<br \/>\npercent) showed little change in May. (See tables A-1, A-2, and A-3.)<\/p>\n<p>Among the unemployed, the number of persons on temporary layoff declined by 291,000 to 1.8<br \/>\nmillion in May. This measure is down considerably from the recent high of 18.0 million in<br \/>\nApril 2020 but is 1.1 million higher than in February 2020. The number of permanent job<br \/>\nlosers decreased by 295,000 to 3.2 million in May but is 1.9 million higher than in<br \/>\nFebruary 2020. (See table A-11.)<\/p>\n<p>In May, the number of persons jobless less than 5 weeks declined by 391,000 to 2.0<br \/>\nmillion. The number of long-term unemployed (those jobless for 27 weeks or more) declined<br \/>\nby 431,000 to 3.8 million in May but is 2.6 million higher than in February 2020. These<br \/>\nlong-term unemployed accounted for 40.9 percent of the total unemployed in May.<br \/>\n(See table A-12.)<\/p>\n<p>The labor force participation rate was little changed at 61.6 percent in May and has<br \/>\nremained within a narrow range of 61.4 percent to 61.7 percent since June 2020. The<br \/>\nparticipation rate is 1.7 percentage points lower than in February 2020. The employment-<br \/>\npopulation ratio, at 58.0 percent, was also little changed in May but is up by 0.6<br \/>\npercentage point since December 2020. However, this measure is 3.1 percentage points below<br \/>\nits February 2020 level. (See table A-1.)<\/p>\n<p>The number of persons employed part time for economic reasons was essentially unchanged at<br \/>\n5.3 million in May but is 873,000 higher than in February 2020. These individuals, who<br \/>\nwould have preferred full-time employment, were working part time because their hours had<br \/>\nbeen reduced or they were unable to find full-time jobs. (See table A-8.)<\/p>\n<p>In May, the number of persons not in the labor force who currently want a job was<br \/>\nessentially unchanged over the month at 6.6 million but is up by 1.6 million since<br \/>\nFebruary 2020. These individuals were not counted as unemployed because they were not<br \/>\nactively looking for work during the last 4 weeks or were unavailable to take a job.<br \/>\n(See table A-1.)<\/p>\n<p>Among those not in the labor force who currently want a job, the number of persons<br \/>\nmarginally attached to the labor force, at 2.0 million, changed little in May but is up<br \/>\nby 518,000 since February 2020. These individuals wanted and were available for work and<br \/>\nhad looked for a job sometime in the prior 12 months but had not looked for work in the 4<br \/>\nweeks preceding the survey. The number of discouraged workers, a subset of the marginally<br \/>\nattached who believed that no jobs were available for them, was 600,000 in May, little<br \/>\nchanged from the previous month but 199,000 higher than in February 2020. (See Summary<br \/>\ntable A.)<\/p>\n<p>Household Survey Supplemental Data<\/p>\n<p>In May, 16.6 percent of employed persons teleworked because of the coronavirus pandemic,<br \/>\ndown from 18.3 percent in the prior month. These data refer to employed persons who<br \/>\nteleworked or worked at home for pay at some point in the last 4 weeks specifically<br \/>\nbecause of the pandemic.<\/p>\n<p>In May, 7.9 million persons reported that they had been unable to work because their<br \/>\nemployer closed or lost business due to the pandemic&#8211;that is, they did not work at all or<br \/>\nworked fewer hours at some point in the last 4 weeks due to the pandemic. This measure is<br \/>\ndown from 9.4 million in the previous month. Among those who reported in May that they<br \/>\nwere unable to work because of pandemic-related closures or lost business, 9.3 percent<br \/>\nreceived at least some pay from their employer for the hours not worked, unchanged from<br \/>\nthe previous month.<\/p>\n<p>Among those not in the labor force in May, 2.5 million persons were prevented from looking<br \/>\nfor work due to the pandemic. This measure is down from 2.8 million the month before. (To<br \/>\nbe counted as unemployed, by definition, individuals must be either actively looking for<br \/>\nwork or on temporary layoff.)<\/p>\n<p>These supplemental data come from questions added to the household survey beginning in May<br \/>\n2020 to help gauge the effects of the pandemic on the labor market. The data are not<br \/>\nseasonally adjusted. Tables with estimates from the supplemental questions for all months<br \/>\nare available online at www.bls.gov\/cps\/effects-of-the-coronavirus-covid-19-pandemic.htm.<\/p>\n<p>Establishment Survey Data<\/p>\n<p>Total nonfarm payroll employment increased by 559,000 in May, following increases of<br \/>\n278,000 in April and 785,000 in March. In May, nonfarm payroll employment is down by 7.6<br \/>\nmillion, or 5.0 percent, from its pre-pandemic level in February 2020. Notable job gains<br \/>\noccurred in leisure and hospitality, in public and private education, and in health care<br \/>\nand social assistance in May. (See table B-1. See the box note at the end of this news<br \/>\nrelease for more information about how the establishment survey and its measures were<br \/>\naffected by the coronavirus pandemic.)<\/p>\n<p>In May, employment in leisure and hospitality increased by 292,000, as pandemic-related<br \/>\nrestrictions continued to ease in some parts of the country. Nearly two-thirds of the<br \/>\nincrease was in food services and drinking places (+186,000). Employment also rose in<br \/>\namusements, gambling, and recreation (+58,000) and in accommodation (+35,000). Employment<br \/>\nin leisure and hospitality is down by 2.5 million, or 15.0 percent, from its level in<br \/>\nFebruary 2020.<\/p>\n<p>In May, employment increased in public and private education, reflecting the continued<br \/>\nresumption of in-person learning and other school-related activities in some parts of<br \/>\nthe country. Employment rose by 53,000 in local government education, by 50,000 in state<br \/>\ngovernment education, and by 41,000 in private education. However, employment is down<br \/>\nfrom February 2020 levels in local government education (-556,000), state government<br \/>\neducation (-244,000), and private education (-293,000).<\/p>\n<p>Health care and social assistance added 46,000 jobs in May. Employment in health care<br \/>\ncontinued to trend up (+23,000), reflecting a gain in ambulatory health care services<br \/>\n(+22,000). Social assistance added 23,000 jobs over the month, largely in child day care<br \/>\nservices (+18,000). Compared with February 2020, employment is down by 508,000 in health<br \/>\ncare and by 257,000 in social assistance.<\/p>\n<p>Employment in information rose by 29,000 over the month but is down by 193,000 since<br \/>\nFebruary 2020. In May, job gains occurred in motion picture and sound recording<br \/>\nindustries (+14,000).<\/p>\n<p>Manufacturing employment rose by 23,000 in May. A job gain in motor vehicles and parts<br \/>\n(+25,000) followed a loss in April (-38,000). Employment in manufacturing is down by<br \/>\n509,000 from its level in February 2020.<\/p>\n<p>Transportation and warehousing added 23,000 jobs in May. Employment increased in<br \/>\nsupport activities for transportation (+10,000) and in air transportation (+9,000).<br \/>\nSince February 2020, employment in transportation and warehousing is down by 100,000.<\/p>\n<p>Employment in wholesale trade increased by 20,000 in May, mostly in the durable goods<br \/>\ncomponent (+14,000). Employment in wholesale trade is down by 211,000 since February<br \/>\n2020.<\/p>\n<p>Construction employment edged down in May (-20,000), reflecting a job loss in<br \/>\nnonresidential specialty trade contractors (-17,000). Employment in construction is<br \/>\n225,000 lower than in February 2020.<\/p>\n<p>Employment in professional and business services changed little in May (+35,000). Within<br \/>\nthe industry, employment continued to trend up in accounting and bookkeeping services<br \/>\n(+14,000). Employment in temporary help services changed little over the month (+4,000),<br \/>\nfollowing a large decline in April (-116,000). Overall, employment in professional and<br \/>\nbusiness services is down by 708,000 since February 2020.<\/p>\n<p>Employment in retail trade changed little in May (-6,000). Clothing and clothing<br \/>\naccessories stores added 11,000 jobs. Employment in food and beverage stores decreased<br \/>\nby 26,000, following a decline of 47,000 in April. Employment in retail trade is 411,000<br \/>\nbelow its February 2020 level.<\/p>\n<p>In May, employment changed little in other major industries, including mining, financial<br \/>\nactivities, and other services.<\/p>\n<p>Average hourly earnings for all employees on private nonfarm payrolls increased by 15<br \/>\ncents to $30.33 in May, following an increase of 21 cents in April. Average hourly<br \/>\nearnings of private-sector production and nonsupervisory employees rose by 14 cents to<br \/>\n$25.60 in May, following an increase of 19 cents in April. The data for the last 2<br \/>\nmonths suggest that the rising demand for labor associated with the recovery from the<br \/>\npandemic may have put upward pressure on wages. However, because average hourly<br \/>\nearnings vary widely across industries, the large employment fluctuations since<br \/>\nFebruary 2020 complicate the analysis of recent trends in average hourly earnings.<br \/>\n(See tables B-3 and B-8.)<\/p>\n<p>In May, the average workweek for all employees on private nonfarm payrolls was 34.9<br \/>\nhours for the third month in a row. In manufacturing, the average workweek rose by 0.1<br \/>\nhour to 40.5 hours, and overtime increased by 0.1 hour to 3.3 hours. The average<br \/>\nworkweek for production and nonsupervisory employees on private nonfarm payrolls<br \/>\ndeclined by 0.1 hour to 34.3 hours. (See tables B-2 and B-7.)<\/p>\n<p>The change in total nonfarm payroll employment for March was revised up by 15,000, from<br \/>\n+770,000 to +785,000, and the change for April was revised up by 12,000, from +266,000 to<br \/>\n+278,000. With these revisions, employment in March and April combined is 27,000 higher<br \/>\nthan previously reported. (Monthly revisions result from additional reports received from<br \/>\nbusinesses and government agencies since the last published estimates and from the<br \/>\nrecalculation of seasonal factors.)<\/p>\n<p>_____________<br \/>\nThe Employment Situation for June is scheduled to be released on Friday, July 2, 2021,<br \/>\nat 8:30 a.m. (ET).<\/p>\n<p>_______________________________________________________________________________________<br \/>\n| |<br \/>\n| Coronavirus (COVID-19) Impact on May 2021 Household and |<br \/>\n| Establishment Survey Data |<br \/>\n| |<br \/>\n| Data collection for both surveys was affected by the pandemic. In the establishment |<br \/>\n| survey, more data continued to be collected by web than in months prior to the |<br \/>\n| pandemic. In the household survey, for the safety of both interviewers and |<br \/>\n| respondents, in-person interviews were conducted only when telephone interviews could |<br \/>\n| not be done. |<br \/>\n| |<br \/>\n| As in previous months, some workers affected by the pandemic who should have been |<br \/>\n| classified as unemployed on temporary layoff were instead misclassified as employed |<br \/>\n| but not at work. However, the share of responses that may have been misclassified was |<br \/>\n| highest in the early months of the pandemic and has been considerably lower in recent |<br \/>\n| months. Since March 2020, BLS has published an estimate of what the unemployment rate |<br \/>\n| might have been had misclassified workers been included among the unemployed. |<br \/>\n| Repeating this same approach, the seasonally adjusted unemployment rate in May 2021 |<br \/>\n| would have been 0.3 percentage point higher than reported. However, this represents |<br \/>\n| the upper bound of our estimate of misclassification and probably overstates the size |<br \/>\n| of the misclassification error. |<br \/>\n| |<br \/>\n| More information about the impact of the pandemic on the two surveys is available at |<br \/>\n| www.bls.gov\/covid19\/employment-situation-covid19-faq-may-2021.htm. |<br \/>\n|_______________________________________________________________________________________|<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.a.htm\">Employment Situation Summary Table A. Household data, seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.b.htm\">Employment Situation Summary Table B. Establishment data, seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.faq.htm\">Employment Situation Frequently Asked Questions<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.tn.htm\">Employment Situation Technical Note<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t01.htm\">Table A-1. Employment status of the civilian population by sex and age<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t02.htm\">Table A-2. Employment status of the civilian population by race, sex, and age<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t03.htm\">Table A-3. Employment status of the Hispanic or Latino population by sex and age<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t04.htm\">Table A-4. Employment status of the civilian population 25 years and over by educational attainment<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t05.htm\">Table A-5. Employment status of the civilian population 18 years and over by veteran status, period of service, and sex, not seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t06.htm\">Table A-6. Employment status of the civilian population by sex, age, and disability status, not seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t07.htm\">Table A-7. Employment status of the civilian population by nativity and sex, not seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t08.htm\">Table A-8. Employed persons by class of worker and part-time status<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t09.htm\">Table A-9. Selected employment indicators<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t10.htm\">Table A-10. Selected unemployment indicators, seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t11.htm\">Table A-11. Unemployed persons by reason for unemployment<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t12.htm\">Table A-12. Unemployed persons by duration of unemployment<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t13.htm\">Table A-13. Employed and unemployed persons by occupation, not seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t14.htm\">Table A-14. Unemployed persons by industry and class of worker, not seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t15.htm\">Table A-15. Alternative measures of labor underutilization<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t16.htm\">Table A-16. Persons not in the labor force and multiple jobholders by sex, not seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t17.htm\">Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t18.htm\">Table B-2. Average weekly hours and overtime of all employees on private nonfarm payrolls by industry sector, seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t19.htm\">Table B-3. Average hourly and weekly earnings of all employees on private nonfarm payrolls by industry sector, seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t20.htm\">Table B-4. Indexes of aggregate weekly hours and payrolls for all employees on private nonfarm payrolls by industry sector, seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t21.htm\">Table B-5. Employment of women on nonfarm payrolls by industry sector, seasonally adjusted<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t22.htm\">Table B-6. Employment of production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t23.htm\">Table B-7. Average weekly hours and overtime of production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t24.htm\">Table B-8. Average hourly and weekly earnings of production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t25.htm\">Table B-9. Indexes of aggregate weekly hours and payrolls for production and nonsupervisory employees on private nonfarm payrolls by industry sector, seasonally adjusted(1)<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><a href=\"https:\/\/www.bls.gov\/cps\/cpsatabs.htm\">Access to historical data for the &#8220;A&#8221; tables of the Employment Situation News Release<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/ces\/cesbtabs.htm\">Access to historical data for the &#8220;B&#8221; tables of the Employment Situation News Release<\/a><\/li>\n<li><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.htm\">HTML version of the entire news release<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Washington, DC&#8230;Total nonfarm payroll employment rose by 559,000 in May, and the unemployment rate declined by 0.3 percentage point to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in public and private education, and in health care and social assistance. This news release presents statistics [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":121981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,5,1],"tags":[],"class_list":["post-121980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2021\/06\/civilian-unemployment-ra.jpeg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/121980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121980"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/121980\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/121981"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}