Nonfarm payrolls rise 54K, much lower than expected

THE EMPLOYMENT SITUATION -- MAY 2011

Nonfarm payroll employment changed little (+54,000) in May, and the unemployment rate was essentially unchanged at 9.1%, the U.S. Bureau of Labor Statistics reported today. Job gains continued in professional and business services, health care, and mining. Employment levels in other major private-sector industries were little changed, and local government employment continued to decline.

Household Survey Data

The number of unemployed persons (13.9 million) and the unemployment rate (9.1%) were essentially unchanged in May. The labor force, at 153.7 million, was little changed over the month. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (8.9%), adult women (8%), teenagers (24.2%), whites (8%), blacks (16.2%), and Hispanics (11.9%) showed little or no change in May. The jobless rate for Asians was 7.0 percent, not seasonally adjusted. (See tables A-1,A-2, and A-3.)

In May, the number of long-term unemployed (those jobless for 27 weeks and over) increased by 361,000 to 6.2 million; their share of unemployment increased to 45.1%. (See table A-12.)

The civilian labor force participation rate was 64.2% for the fifth consecutive month. The employment-population ratio remained at 58.4% in May. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged in May at 8.5 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

In May, 2.2 million persons were marginally attached to the labor force, about the same as a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 822,000 discouraged workers in May, a decrease of 261,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.4 million persons marginally attached to the labor force in May had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment was little changed in May (+54,000), following gains that averaged 220,000 in the prior 3 months. Private-sector employment continued to trend up (+83,000), although by a much smaller amount than the average for the prior 3 months (+244,000). In May, job gains occurred in professional and business services, health care, and mining. Local government employment continued to trend down. Employment in other major industries changed little over the month. (See table B-1.)

Click here for complete report and tables

Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome