The U.S. Bureau of Labor Statistics (BLS) released its report last Friday on the employment situation in May, 2011, and the news was not as encouraging as in previous months. Only 54,000 jobs were added in May, following an average gain per month of 220,000 over the previous three months. Improvement continued in professional and business services, health care, and mining; were relatively unchanged in major private-sector industries; and employment figures in local government continued their downward slide. 
Also relatively unchanged were the number of unemployed persons, at 13.9 million, and the unemployment rate, which sat at 9.1 percent. The number of long-term unemployed--those who have been jobless for 27 weeks or more--increased by 361,000 to 6.2 million. The BLS Editor's Desk summarized some of the report's findings here.
As mentioned in an earlier blog post, stocks dropped following negative economic reports for the month of May, and economists were disappointed by figures much lower than they had anticipated.
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Also relatively unchanged were the number of unemployed persons, at 13.9 million, and the unemployment rate, which sat at 9.1 percent. The number of long-term unemployed--those who have been jobless for 27 weeks or more--increased by 361,000 to 6.2 million. The BLS Editor's Desk summarized some of the report's findings here.As mentioned in an earlier blog post, stocks dropped following negative economic reports for the month of May, and economists were disappointed by figures much lower than they had anticipated.
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