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Tipsheet

The Latest Jobs Report Is Here

AP Photo/Alex Brandon

The U.S. economy added 139,000 news jobs in May, beating expectations for the third month in a row, while the unemployment rate remained unchanged at 4.2 percent, the Bureau of Labor Statistics reported Friday morning. Economists estimated last month's job growth to be at 125,000.

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Job gains were mostly seen in healthcare, leisure and hospitality, and social assistance.

Health care added 62,000 jobs in May, higher than the average monthly gain of 44,000 over the prior 12 months. In May, job gains occurred in hospitals (+30,000), ambulatory health care services (+29,000), and skilled nursing care facilities (+6,000).

Employment in leisure and hospitality continued to trend up in May (+48,000), largely in food services and drinking places (+30,000). Over the prior 12 months, leisure and hospitality had added an average of 20,000 jobs per month.

In May, social assistance employment continued to trend up (+16,000), reflecting continued growth in individual and family services (+16,000). (BLS)

Federal government jobs continued to decline and were down 22,000 last month. 

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Alfredo Ortiz, CEO of Job Creators Network, said the May report is a reflection of President Trump's "pro-growth, pro-energy policies." 

"Small businesses and the private sector were responsible for these new jobs, with strong gains in the leisure and hospitality sector, a stark contrast from last year's labor market that was propped up by government jobs. Small businesses are confident and staffing up for summer," he said in a statement. 

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"Today's jobs market is just a taste of what's to come when the Federal Reserve lowers interest rates, improving access to credit, and Republicans pass their big, beautiful bill, which expands and makes permanent the Tax Cuts and Jobs Act," Ortiz continued. "New JCN polling finds 70% of small businesses will create jobs, expand operations, boost worker wages, or reinvest in their communities if the TCJA is extended. Tax cuts now equal more jobs tomorrow."

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