Article source: ConstructConnect
The angst over whether all the talk about a possible looming recession may be affecting the U.S. jobs market can be set aside, at least temporarily, based on the latest Employment Situation report from the Bureau of Labor Statistics (BLS). May’s month-to-month change in the U.S. total jobs count was +390,000. That’s a little down from the year-to-date monthly average for 2022 of +490,000, but it’s still strikingly good.
The seasonally adjusted (SA) unemployment rate stayed at 3.6% for the third month in a row. The not seasonally adjusted (NSA) unemployment rate ticked up to 3.4% from 3.3% in April. But U rates in the mid-3.0% range are about as low as they ever go.
The construction sector achieved decent hiring success in May, with a gain in employment of +36,000 jobs. That was the second best monthly showing this year, behind only February’s +54,000.
