June 14, 2016
By Steven Wishnia and Neal Tepel
Washington, DC – The 38,000 jobs the U.S. economy added in May were the smallest gain in any month since September 2010, according to figures released June 3 by the federal Bureau of Labor Statistics.
Though the unemployment rate fell to 4.7% from 5.0% in April, the number of jobs gained has now declined for three straight months, from 186,000 in March to 123,000 in April. Health care continued to be a strong sector, adding 46,000 jobs, but mining and manufacturing lost 28,000. Employment in information declined by 34,000 because of the Verizon strike. While the number of unemployed persons dropped by 484,000, to 7.4 million, the number of persons working part-time involuntarily increased by 468,000, to 6.4 million. The overall civilian labor-force participation rate, people either working or looking for jobs, has fallen from 63% in March to 62.6% in May, “offsetting gains in the first quarter,” the BLS said. Read more