Blog Posts by Scott Moorehouse
With 138,000 new jobs added during the month, the May Employment Situation report fell short of analyst expectations, but remained strong enough to lower the unemployment rate to 4.3%. This new rate represents the lowest since May 2001; however, behind the headline numbers lie some concerning data points. The labor force participation rate fell to 62.7% from 62.9% in April, decreasing the total measure of employed workers by 233,000.
Last Friday’s March jobs report significantly missed expectations, as the Bureau of Labor Statistics estimated 98,000 new jobs were created in the month. Analysts projected 180,000 new jobs would be created in March. Meanwhile, the unemployment rate continued to drop, reaching 4.5% for the month, while the labor force participation rate remained steady at 63%.