Jobs Growth Slowed in May

Graphic courtesy of www.lumaxart.com

The Bureau of Labor Statistics’ latest jobs report shows a gain of 147,00 private sector jobs in May 2017, though economists had forecasted a higher gain. Wage growth since April was little changed. The May unemployment rate was 4.3 percent. Since January, the jobless rate has declined by 0.5 percentage point, and the number of unemployed has decreased by 774,000, the report states.

House Democratic Whip Steny H. Hoyer (MD) released a statement June 2 after the Department of Labor released its May 2017 report.

The congressman is concerned that only 147,000 new private sector jobs were created in May — with declines being seen in manufacturing, slowing wage growth, and a rapidly shrinking labor force. He says the new administration is offering “uncertainty and volatility,” rather than economic security.

“The measure by which this administration must be judged, first and foremost, is whether Americans’ lives are getting better, not worse, and whether their families have greater economic security, not less,” Congressman Hoyer (D-Md., 5th) said. “Democrats will continue to push for Congress to get serious about ensuring that our middle class doesn’t collapse … I urge Republicans to work with us to ensure that we can transform the continued job growth of our recovery into real economic security for the American people.”

Report highlights include:

• Total nonfarm payroll employment increased by 138,000 in May, compared with an average
  monthly gain of 181,000 over the prior 12 months. In May, job gains occurred in health
  care and mining.
• Employment in health care rose by 24,000 in May. Hospitals added 7,000 jobs over the
  month, and employment in ambulatory health care services continued to trend up. Job growth in health care has averaged 22,000 per month thus far in 2017, compared with an average monthly gain of 32,000 in 2016.
• Mining added 7,000 jobs in May. Employment in mining has risen by 47,000 since reaching
  a recent low point in October 2016, with most of the gain in support activities for mining.
• Employment in food services and drinking places also continued to trend up in May and has grown by 267,000 over the past 12 months.

Click here to see the latest report.

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For more information about House Democratic Whip Steny H. Hoyer, visit his Leader Page.