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Tuesday, June 8, 2010

May Unemployment Rate Down to 9.7%

The Bureau of Labor Statistics has released the May Employment Situation Summary, announcing the unemployment rate back down at 9.7% as it was the first three months of the year.

The number of unemployed persons was 15.0 million in May. The unem-ployment rate edged down to 9.7 percent, the same rate as in the first 3 months of 2010.

15 million were unemployed in May, but the number of long-term unemployed individuals (unemployed for 27 or more weeks) stayed the same at 6.8 million. The long-term unemployed consists of almost half of the total unemployed at 46%, which is about the same as April.

Nonfarm payroll employment increased by 431,000 in May, reflecting the addition of 411,000 temporary workers for Census 2010. Total private employment showed little change over the month (+41,000), following increases in March and April. In May, manufacturing, temporary help services, and mining added jobs, while employment in construction declined.
See full news release here