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Professional Service Agreement

Unemployment Rate Edges Down to 3.8% in May

June 04, 2018

The U.S. Bureau of Labor Statistics has reported that total nonfarm payroll employment increased by 223,000 in May, and the unemployment rate edged down to 3.8 percent. Over the year, the unemployment rate was down by 0.5 percent. Employment continued to trend up in several industries, including retail trade (+31,000), health care (+29,000), construction (+25,000), professional and technical services (+23,000), transportation and warehousing (+19,000), manufacturing (+18,000), and mining (+6,000). In May, employment changed little in other major industries, including wholesale trade, information, financial activities, leisure and hospitality, and government.