Commuters in San Francisco
June 1, 2018

The U.S. Economy Created More Than 220,000 New Jobs in May, While Wages Posted Strong Growth

Pacific Union Chief Economist Selma Hepp analyzes May's just-released U.S. employment report.

 

  • Today’s national employment report from the U.S. Bureau of Labor Statistics offered further confirmation of the U.S. economy’s strength, reporting an increase of 223,000 jobs in May. Job gains have averaged 202,000 per month in 2018. The current economic cycle is the longest continuous expansion on record, with 92 straight months of job additions.
  • The national unemployment rate fell to 3.8 percent, similar to April 2000 and the lowest recorded since 1969. The unemployment rate for women also dropped to lowest since 1953 and continues to trend lower for other demographics.
  • A strong point in the report was the increase in hourly wages, up 2.7 percent from a year ago to $26.92. In addition, wages of nonsupervisory workers have increased at a faster rate than wages overall for the first time since 2014.

 

To read the full post, click here: https://pacunion.us/2spPtDc