by Calculated Risk on 6/06/2025 08:30:00 AM
From the BLS: Employment Situation
Total nonfarm payroll employment increased by 139,000 in May, and the unemployment rate was
unchanged at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment
continued to trend up in health care, leisure and hospitality, and social assistance. Federal
government continued to lose jobs.
…
The change in total nonfarm payroll employment for March was revised down by 65,000, from
+185,000 to +120,000, and the change for April was revised down by 30,000, from +177,000 to
+147,000. With these revisions, employment in March and April combined is 95,000 lower than
previously reported.
emphasis added
The first graph shows the jobs added per month since January 2021.
Payrolls for March and April were revised down by 95 thousand, combined.
The second graph shows the year-over-year change in total non-farm employment since 1968.
In May, the year-over-year change was 1.73 million jobs. Employment was up solidly year-over-year.
The third graph shows the employment population ratio and the participation rate.
The Labor Force Participation Rate decreased to 62.4% in May, from 62.6% in April. This is the percentage of the working age population in the labor force.
The Employment-Population ratio decreased to 59.7% from 60.0% in April (blue line).
I’ll post the 25 to 54 age group employment-population ratio graph later.
The unemployment rate was unchanged at 4.2% in May from 4.2% in April.
This was slightly above consensus expectations; however, March and April payrolls were revised down by 95,000 combined.
I’ll have more later …
