May Unemployment Rate Falls to 4.7 Percent

June 3, 2016

The May 2016 unemployment rate declined by 0.3 percent to 4.7, with gains in nonfarm payroll employment up about 38,000.

Mining employment continued to decline, losing 10,000 jobs. Since reaching a peak in September 2014, mining has lost 207,000 jobs. Support activities for mining accounted for three-fourths of the jobs lost during this period, including 6,000 in May.

Employment in other major industries, including construction, wholesale trade, retail trade, transportation and warehousing, financial activities, leisure and hospitality, and government, changed little over the month.

In May, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents to $25.59, following an increase of 9 cents in April. Over the year, average hourly earnings have risen by 2.5 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents to $21.49 in May.

Source: Bureau of Labor Statistics