Labor market saw modest lift in May

cbsnews.com ^ | May 6, 2014 | Alain Sherter

[John W]

The labor market continued last month to rebound from a severe winter slump.

Employers added 217,000 nonfarm jobs in May, the U.S. Labor Department said Friday. That was in line with forecasts of 215,000 jobs, although it fell short of the sharp rise in payroll gains the previous month, when payrolls grew by a revised 282,000. The nation's unemployment rate held steady at 6.3 percent.

The labor market, which has added an average of 197,000 jobs over the past 12 months, has not achieved the kind of lift-off in 2014 seen after previous recessions. But the labor market has improved steadily this year after getting a slow start due to the harsh winter weather that afflicted much of the U.S.

[weezel]

QUESTION!! What states produced the jobs?

[jdsteel]

Texas and N. Dakota provided the bulk, I’m sure.

[apillar]

So how many million mysteriously dropped off the charts this month to keep the unemployment number steady in an economy with a contracting GDP??

[ThunderSleeps]

197k per month average? Depending on what labor participation rate you believe is right (what we used to have, vs what obama and crew have forced on us) we need anywhere from 100k to 540k jobs per month - just to hold even at the current unemployment rate. In other words - no recovery, in fact we are still probably losing ground.

[BitWielder1]

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    \/\ <-- Woohoo, the economy is improving !!!
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[expat_panama]

The labor market continued last month to rebound ...

--according to the press.  The numbers actually say that population and unemployment increased more than employment while the labor force shrunk.

 

[Cringing Negativism Network]

It appears the largest change, is the “Not in Labor Force” number.

Just saying.

That single number increased in the last year, more than any other you posted.

[Bullpine]

MAY.......MEMORIAL DAY..... BEGINNING OF SUMMER TRAVEL / VACATION SEASON....... TEMPORARY SUMMER JOBS.

[SoFloFreeper]

Mainstream media, happily shoveling manure for Obama.