Today, the Bureau of Labor and Statistics released the Employment Situation Summary for May 2014. Overall, the unemployment numbers have held at 6.3 percent, but there are increases in employment industry wide. Here’s a quick summary:
1. Employment in temporary help services continued to trend up (+14,000) and has grown by 224,000 over the past year. This is consistent with the U.S Department of Labor’s previous reports that the contingent workforce is among the fastest growing segment of workers and the Department predicts a 23% increase by 2020. Our clients currently have numerous opportunities for contract workers, search our open jobs.
2. The total nonfarm payroll employment rose by 217,000 in May, and the unemployment rate was unchanged at 6.3%. Employment increased in professional and business services, health care and social assistance, food services and drinking places, and transportation and warehousing.
3. The unemployment rate held at 6.3 percent in May, following a decline of 0.4 percentage point in April. The number of unemployed persons was unchanged in May at 9.8 million. Over the year, the unemployment rate and the number of unemployed persons declined by 1.2 percentage points and 1.9 million, respectively.
4. Professional and business services added 55,000 jobs in May, the same as its average monthly job gain over the prior 12 months.
5. The health care industry added 34,000 jobs over the month, twice its average monthly gain for the prior 12 months.
6. Manufacturing employment changed little over the month but has added 105,000 jobs over the past year.
7. The employment status of the civilian population 25 years and over rises significantly if the person has a Bachelor’s degree or higher.
View the full May Employment Report.