The Bureau of Labor Statistics released data on May’s employment situation today.
Highlights of today’s employment situation report:
* 78,000 new payroll jobs were created in May, following a much larger gain of 274,000 in April.
* The unemployment rate (calculated from the household survey of employment) edged down to 5.1% in May, from 5.2% in April. Last May, they unemployment rate was 5.6%.
* The unemployment rate remains below the averages of each of the past 3 decades.
(Source: Congressional Joint Economic Committee).
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