https://www.bls.gov/news.release/empsit.nr0.htm
Consensus forecast was for an increase of 85,000 jobs and for the unemployment rate to remain at 4.3%, so actual figures surprised high for jobs.
Revisions to previous months totaled a +93,000 revision. March was revised +29,000 (+185,000 to +214,000) and April was revised +64,000 (+115,000 to +179,000).
FRED graphs of key employment data over the past five years:
* Monthly change (in thousands) in nonfarm payroll employment levels. AKA headline job growth.
Posted by JeromesNiece
10 Comments
I expect a rate hike by September. Or at least I think that it’s warranted.
Do we know if it was mostly increase in healthcare and hospitality again? Or does that info come later?
The increase is mostly from leisure & hospitality, and healthcare. The other sectors you might be interested in:
>Financial activities employment declined by 22,000 in May and is down by 107,000 since a
recent peak in May 2025. Over the month, job losses occurred in insurance carriers and related
activities (-11,000) and commercial banking (-3,000).
>Employment in transportation and warehousing was essentially unchanged in May (+1,000) but is
down by 92,000 since reaching a peak in February 2025. Over the month, transit and ground
passenger transportation (+9,000) and warehousing and storage (+6,000) added jobs. Air
transportation lost 9,000 jobs, largely reflecting a business closure.
>Employment showed little change over the month in other major industries, including
construction, manufacturing, wholesale trade, retail trade, information, professional and
business services, and other services.
How long before these get revised downwards?
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I am naive on this but I had a friend last month lose a full time position and to make ends meet now drives for Amazon, door dash and Uber Eats. So that counts as 3 new jobs. Many people are getting 2nd jobs…how is this accounted for and does this mean the economy is stronger or that people need 2 jobs to get by.
Surely they’ve got to hike?
People interpret the growth in healthcare negatively, but assuming AI will deliver at least on some of its promises, won’t it be natural that such human service jobs will be the last remaining growth sector? Not sure if that’s necessarily bad, as long as deflation in the AI-exposed sectors keeps the wealth growth up.
It’s a shame that no one can believe these numbers with that criminal in the White House. According to it the inflation rate was 1.7% before the war it started 🙄