"Economy Added 217,000 Jobs In May; Unemployment Unchanged At 6.3 Percent"
The economy added 217,000 jobs in May while the unemployment rate remained at 6.3 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 215,000 jobs to be added. That marks the fourth straight month of adding at least 200,000 jobs, the first time that’s happened since early 2000.
The economy needed to add 113,000 jobs in May to finally recover all of the jobs lost in the Great Recession, although there is still a 7 million jobs gap compared to where job creation should have been without the downturn.
Health care led job creation, adding 55,000 jobs, and professional and business services added the same number. Retail also added 13,000 and manufacturing added 10,000. Transportation and warehousing jobs rose by 16,000, while the government added 1,000.
The 203,000 jobs added in March remained unchanged by revisions, while April’s were revised down from 288,000 to 282,000.