Services Sector Leads Hiring
The majority of job gains came from the services sector, contributing a substantial portion of the total new jobs:
- Trade, Transportation, and Utilities: +55,000 jobs
- Education and Health Services: +46,000 jobs
- Construction: +32,000 jobs
In contrast, the goods-producing sector contributed only 3,000 new jobs.
Notable Job Losses in Key Sectors
Several sectors experienced job losses in May, underscoring weaknesses in specific areas of the economy:
- Manufacturing: -20,000 jobs
- Natural Resources and Mining: -9,000 jobs
- Information: -7,000 jobs
- Professional and Business Services: -6,000 jobs
Additionally, small businesses with 20 to 49 employees saw…
Read More
