U.S. Job Creation Recovers in April

The U.S. economy recovered from the disappointing showing in April by adding 559,000 new jobs in May, the Bureau of Labor Statistics (BLS) reported. Although fewer workers were added to the payroll than the 700,000-plus forecasted by economists, the May jobs report was in line with February and March totals. The gains underscore the positive impact of steady reopening efforts across the U.S. marketplace. Of particular note were job gains in leisure and hospitality, public and private education, and health care and social assistance.

Manufacturing employment rose by 23,000 in May, a positive turn after decreasing by 18,000 the month prior. Manufacturing payrolls remain 509,000 below pre-pandemic totals in February 2020. Employment in construction waned by 20,000 in May, reflecting a job loss of 17,000 in nonresidential specialty trade contractors. Construction employment is 225,000 lower than in February 2020, before the pandemic. Figure 1 shows the total number of nonfarm employed people in the U.S. since 2000.