June 4, 2021
May 2021 Jobs Report
Unemployment Rate: 5.8 percent
Jobs Created: 559,000
Employment and Unemployment
- The Department of Labor reported the unemployment rate decreased by 0.3 percentage point to 5.8% in May.
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Nonfarm jobs increased by 559,000 in May, with sizeable job gains in the leisure and hospitality industry.
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In March and April, job gains were higher than first reported. The department revised the change in nonfarm jobs for those months up by a combined 27,000 jobs.
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The U-6 unemployment rate, a broader measure that includes part-time and discouraged workers, ticked down 0.2 percentage point to 10.2% in May.
Labor Force Participation
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The labor force participation rate, the share of people employed or looking for work, edged down 0.1 percentage point to 61.6%. It remains 1.7 percentage points lower than the level in February 2020.
Wages
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In May, average hourly earnings for all employees in private nonfarm jobs increased by $0.15 to $30.33.
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