Economy Watchers Glowing After Plentiful May Job Creation
The U.S. Department of Labor (DoL) said May’s healthy total followed an upwardly revised total of 346,000 jobs added in April and 353,000 in March. By tacking on a whopping 947,000 new jobs in the March to May period, those three months became the strongest job-creation quarter in four years.
The government also said the unemployment rate remained at 5.6% in May, unchanged from April.
Virtually every major sector of the economy added jobs in May, from retailing to construction industries. Particularly notable were 32,000 new hires in the important manufacturing sector – a fourth straight monthly increase and the biggest for any month since August 1998 when 143,000 manufacturing jobs were created, the department said.
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