Latest data from the Bureau of Labor Statistics shows a very weak job US job market in May, 2011.
Payroll employment increased for the 8th straight month of job growth in May, but the pace of job growth slowed to a weak 54,000, the slowest September 2010. An increase of 83,000 in private nonfarm jobs was offset by a decrease of 23,000 in state and local government jobs. A separate survey of households, which includes farm jobs and self-employment, showed an increase of 105,000 jobs.
The unemployment rate edged upward to 9.1 percent, its highest level since December 2010. The number of unemployed persons increased by 167,000. The labor force, which includes both employed and unemployed persons, increased by 272,000.
The unemployment rate would have been even higher if not for the fact that many people have dropped out of the labor force because of the weak job market. The employment to population ratio dropped slightly in May to a level close to its lowest point during the current downturn.
Follow this link to view or download a set of classroom-ready slides with highlights from the May 2011 employment situation report.
No comments:
Post a Comment