U.S. workforce adds 390,000 jobs in May as Americans get a bump in pay
The United States added 390,000 jobs in May, which held the national unemployment rate at 3.6%, the U.S. Bureau of Labor Statistics reported Friday.
The data indicate that even with the added jobs, the U.S. workforce remains below pre-pandemic levels.
The leisure and hospitality industry, which saw a mass exodus during the pandemic, saw gains of 84,000 workers in May. The industry, however, remains down 1.3 million employees since February 2020.
Other industries that added workers in May include Manufacturing (18,000), transportation and warehousing (47,000), professional and business services (75,000), construction (36,000), and health care (28,000).
The financial activities, construction, information, other services, and government industries showed little change in the workforce in May.
While inflation is raising the costs of goods, employees saw a bump in pay in May. The average nonfarm hourly rate increased by 10 cents, or .3%, to $31.95. In the last 12 months, the BLS reports that the average hourly rate for nonfarm work rose 5.2%.
While Americans are getting paid more, salaries have failed to keep up with inflation, which has remained over 8% in the last year.
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Post Title: U.S. workforce adds 390,000 jobs in May as Americans get a bump in pay
Posted Date: June 16, 2022
Author: USA Jobs