May unemployment down to 4.7%, but job growth slows

Posted by | June 3, 2016 08:50 | Filed under: Economy Politics

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It’s the lowest number since 2007, but just 38,000 jobs were created.

The number of new jobs was the smallest the economy has created since the fall of 2010. Economists polled by MarketWatch had predicted an increase of 155,000 nonfarm jobs. The unemployment rate, in a surprising twist, fell to 4.7% from 5% to mark the lowest level since the month before the Great Recession began in December 2007. Yet the decline owed almost entirely to 458,000 people leaving the labor force. The labor-force participation fell for the second month in a row to 62.6%, the Labor Department said Friday. Average hourly wages climbed 0.2% to $25.59. Hourly pay rose 2.5% from May 2015 to May 2016.

 

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Copyright 2016 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

5 responses to May unemployment down to 4.7%, but job growth slows

  1. Obewon June 3rd, 2016 at 09:14

    35,000 Verizon strikers are rehired doubling seasonally adjusted jobs creation to 73,000.
    BHO44 Average private Jobs creation is 1.3 M per year. GWB43 created 160,000 jobs per Year including just 118,000 private jobs per year. https://www.washingtonpost.com/blogs/plum-line/wp/2016/01/08/guess-what-barack-obama-has-been-a-great-president-for-job-creation/

  2. William June 3rd, 2016 at 10:57

    Way lower than when Reagan was in his last year in office.
    “Dispatch to van 43. Cleanup at FOX news studio”.

  3. mistlesuede June 3rd, 2016 at 11:13

    I think after about 75 months of large numbers, eventually things are going to level off. We are considered to be at full employment. If GOTP obstruction would not have been working against the country for eight years, those monthly numbers for each month would have been even higher. An infrastructure boost to the economy has been and is very badly needed, but that won’t happen until we have a Democratic Congress.
    BTW, everywhere I go I see signs saying “we are hiring.” Almost every receipt I get says the same thing at the bottom. Our tiny local paper has good job openings in it. Are there not enough people to fill jobs?

  4. William June 3rd, 2016 at 12:31

    OK seriously? Who didn’t see this coming?https://twitter.com/realDonaldTrump/status/738711092252155904

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