Unemployment Rate Remains Unchanged in May; 280,000 Jobs Added
The U.S. economy continues to improve in slight increments after the Labor Department announced slight job growth in May. Statistics show the economy added 280,000 jobs but the unemployment rate did not change overall. It dropped slightly among Latinos.
According to numbers released by the Bureau of Labor Statistics, the unemployment rate remained at around 5.5 percent this past month, adding only 280,000. However, the Latino unemployment rate dropped to a seasonally adjusted 6.7 percent, showing an improvement over the last couple of months.
In April, the unemployment rate rose to 6.9, 0.1 percent higher than a month earlier. May's number show a minute improvement among Latinos, as prospects among other groups remains the same. The report stated Asians enjoy the lowest unemployment rate at 4.1 percent followed by whites at 4.7. African Americans have the highest unemployment rate at 10.2 percent.
Unemployment among Latino men remained the same, standing at 6 percent; however, Latina unemployment dropped dramatically from 6.9 to 6.5 percent.
A statement from the White House's Council of Economic Advisers reported manufacturing jobs as well as information services have seen an overall increase and improvement since the end of the economic crises while construction job growth has remained stagnant.
May in particular saw growth in government jobs, leisure and hospitality, health care and social assistance, private education, and temporary help services. Mining, logging and construction saw little or negative growth in the past month.
Job growth continues to improve in increments, but has markedly improved since the economic crisis began. A year ago unemployment stood at 6.3 percent and on 2009, at the height of the recession, 9.4 percent in May.
Labor Secretary Thomas Perez was optimistic about the state of the economy in a press release. He added that average hourly wages had increase by 8 cents, a 2.3 percent increase from the previous month. But, there is more work still to be done.
"The recovery continues apace with strong and steady job growth. But the wind at our back isn't propelling everyone forward. From education and skills development to minimum wage and paid leave, the Obama administration continues to work every day to extend more opportunity to more people," Sec. Perez said in a statement.
"We hope Congress will join us in our efforts to reward hard work and give everyone the chance to punch their ticket to the middle class."
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