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Economy Added 280,000 Jobs in May

The U.S. economy added 280,000 jobs in May, suggesting economic growth is rebounding from the contraction in the first quarter of the year. The unemployment rate crept up from 5.4 percent to 5.5 percent, but that was likely because more people were entering the job market as hiring increased.

Economists had been forecasting a gain of about 225,000 jobs.

Average hourly earnings also grew, by 0.3 percent, and previous months’ jobs gains were revised upward by 32,000.

Nevertheless, the labor force participation rate remained at historic lows, rising only a tenth of a percent to 62.9 percent.

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5 Responses to Economy Added 280,000 Jobs in May

  1. What about the millions of unemployed who have dropped off the radar after their unemployment benefits expired? Many went straight to permanent disability and the rest are on welfare. Not a pretty picture!