May Jobs Report: Labor Market and Hiring Extremely Sluggish | Payroll jobs rose by 559,000 while 675,000 expected by economists;
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The number of workers permanently laid off from their jobs remained high at 3.2M, and the number of long-term unemployed remained high at 3.75M.
- Growth in payroll employment was quite uneven across sectors. Leisure/hospitality employment rose by 292,000, but remains about 2.5 M below February 2020; and retail employment was flat. Similarly, manufacturing employment rose by 23,000 but construction was down.
SOURCE – FORBES
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