May NFP = +280,000

This morning’s jobs report was a good one. The U.S. economy created 280,000 net new jobs last month. The number for March was revised higher by 34,000 and April was revised up by 32,000. The economy created 501,000 jobs in April and May.

The jobs-to-population ratio ticked up to 59.41%. That’s the best reading in nearly six years. The fact remains that a lot of people have dropped out of the labor force. They’re not even looking for a job.

The workforce participation rate appears to be stabilizing, and it bumped up a tiny bit last month. As a result, the unemployment rate rose to 5.5% despite the growth in jobs.

Posted by on June 5th, 2015 at 10:05 am


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