U.S. Economy Added 288,000 Jobs in May, 2014
Posted on May 2, 2014
The U.S. economy added 288,000 jobs in May, 2014 according to the new report from the Bureau of Labor Statistics (BLS). This was the biggest monthly job gain since January 2012. The unemployment rate fell 0.4% to 6.3%.
Here is a breakdown of categories that gained jobs in May, 2014:
- Professional and business services added 75,000 jobs
- Retail trade employment added 35,000 jobs
- Food services added 33,000 jobs
- Construction added 32,000 jobs
- Health care employment increased by 32,000 jobs
- Mining added 10,000 jobs
The BLS also revised the report for February from +197,000 to +222,000 and the report for March from +192,000 to +203,000.
The Wall Street Journal reports that Jim Baird of Plante Moran Financial Advisors says "Given April's strong job gains, it looks increasingly likely that growth should pick up sharply in the second quarter." That would be great for the economy if it happens.