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Employment Report (May 2008)

Mon, Jun 9 2008, 07:36 GMT
by Marcial Nava, Alejandro Neut

BBVA Bancomer

• • The nonfarm payroll decreased by 49K jobs. Over the past five months, it has accumulated a net lost of 324K.
  

• • Construction led the way down in May, shedding 34K jobs. Manufacturing payroll went down by 26K jobs.
  

• • Government services added 17K jobs; however, employment in private services declined by 9K as significant losses in transportation, retail, and professional and business services were partially compensated by expected job creation in education, healthcare and leisure.

• • Average hourly earnings grew 0.3% in May to $17.94. Real hourly earnings declined 0.1% for the second straight month.
  

• • Boosted by an upsurge in the 16 to 24 years old labor force, the unemployment rate climbed from 5% in April to an unexpected 5.5% in May. The participation rate rose to 66.2%, the highest since March 2007.

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Published on  Mon, Jun 9 2008, 07:45 GMT

Archive

• Employment Report (May 2008)
  Published On Mon, Jun 9 2008, 07:36 GMT
• Bank Lending Practices Survey (May, 2008)
  Published On Wed, May 7 2008, 07:20 GMT
• Bank Lending Practices Survey (May, 2008)
  Published On Mon, May 5 2008, 13:39 GMT
• Employment Report (March, 2008)
  Published On Mon, Apr 7 2008, 15:21 GMT
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