May jobs report: Job growth continued to slow in May amid economic uncertainty

The American economy added jobs in May at a slower pace than in the past two months, as uncertainty about the direction of trade, tax and monetary policy caused the decline in employers at employment.

On Friday, the Ministry of Labor stated that employers added 139,000 jobs in May. This number was a little higher than the Economists included in LSEG, who added 130,000 jobs – although it was cooler than the initial report of 177,000 jobs that were added in April or 185,000 jobs obtained in March.

The unemployment rate was 4.2 %, and it has not changed for the past two months and in line with the estimate of LSEG.

Job gains have been reviewed in the past two months, where job creation has been revised in March by 65,000 from a profit from 185,000 to 120,000; Job gains were revised in April to 30,000 from a profit from 177,000 to 147,000. Completely, employment was in March and April less than 95,000 than before.

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Private sector salaries have grown 140,000 in May – much higher than 120,000 estimated by LSEG.

government salaries decreased by 1,000 jobs in May across all levels of government. The federal government has delivered 22,000 jobs, leaving this sector in 59,000 jobs since January, and the work statistics office indicated that workers with paid leave or obtaining the end of the continuous semester salaries are calculated in general in the corporate survey. The local government added 21,000 jobs in May, while employing the state government has not changed.

The manufacturing sector cast 8,000 jobs in May, a deeper decrease than the 5,000 expected economists.

Healthcare opportunities added 62,000 jobs in May, at a faster rate than the average monthly profit of 44,000 during the past year. Hospital gains (+30,000), ambulance health care services (+29,000) and skilled nursing facilities (+6000) were focused.

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Employment in the entertainment and hospitality sector increased by 48,000 in May, with the largest part of the gains in food services and drinking places (+30,000). May gains were much higher than an average of 12 months of 20,000 jobs.

Employment for social assistance increased by 16,000 jobs in May, with this growth in individual and family services.

The workforce participation rate fell 0.2 percentage points to 62.4 % in May.

The number of people considered to be unemployed in the long run, which was defined as unemployed for 27 weeks or more, by 218,000 to 1.5 million. The unemployed in the long term constituted 20.4 % of all the unemployed in May.

The Federal Reserve’s favorite inflation scale shows that consumer prices have been reduced in April

Ochenside, New York: Dr. Jay Etzkovic, Head of the Emergency Department, and Margaret Boya RN, in the new shock unit at Mount Sinai South Nassau Hospital in Ocean SID, New York on January 26, 2023. ((Image via Hoard Schnap / Newsday RM via Getty Images) / Getty Images)

There were 4.6 million workers who were part -time for economic reasons in May, a number that has not changed much since April. These individuals preferred full -time employment, but they were part -time part -time due to a decrease in hours, or they could not find full -time jobs.

Many employers decreased by 283,000 in May and represented 5.3 % of the workforce, a number that has not changed much during the past year.

“While the US labor market continued to add a decent number of jobs in May, it is more cold than it was a few months ago, and continues to soften – to the point that there is no big room for more slowdown before unemployment begins to rise,” Curie Stahel said at the recruitment laboratory.

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Stahle added: “Large descending reviews have also taken some of the strong data unexpectedly from this year earlier. This is not a bad report, in itself, but there are clear signs of erosion directly below the surface that may not be clear only by looking at the headlines.”