Hiring Pace Remains Strong in May Jobs Report
(WASHINGTON) -- The jobs market appears to be getting stronger and the U.S. economy may be revving up. Employers hired at a healthy pace in May for a fourth straight month, fueling hopes of accelerating growth after a grim start for the year.
The Labor Department said Friday that employers added 217,000 jobs last month, down from 282,000 in April, which was a very strong month for job creation. Employment gains have now averaged 234,000 in the past three months, up from only 150,000 in the previous three.
The U.S. unemployment rate remained at 6.3 percent.
The job market has reached a significant milestone. Nearly five years after the Great Recession ended, the U.S. has finally regained all the jobs lost in the downturn. But that’s hardly cause for celebration: The population has grown nearly 7 percent since then.
The U.S. workforce participation rate was unchanged at 62.8 percent.
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