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Staffing industry recruiting news, advice and thought leadership.

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Staffing industry recruiting news, advice and thought leadership.

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BLS Report – May 2020

The unemployment rate declined by 1.4 percentage points to 13.3 percent in May, and the number of unemployed persons fell by 2.1 million to 21.0 million.

Among the major worker groups, the unemployment rates declined in May for adult men (11.6 percent), adult women (13.9%), Whites (12.4%), and Hispanics (17.6%). The jobless rates for teenagers (29.9%), Blacks (16.8%), and Asians (15%) showed little change over the month.

The number of unemployed persons who were on temporary layoff decreased by 2.7 million in May to 15.3 million, following a sharp increase of 16.2 million in April. Among those not on temporary layoff, the number of permanent job losers continued to rise, increasing by 295,000 in May to 2.3 million.

         

WHAT DOES THIS MEAN FOR STAFFING?

Total nonfarm payroll employment increased by 2.5 million in May, reflecting a limited resumption of economic activity that had been curtailed due to the coronavirus pandemic and efforts to contain it.

The number of persons not in the labor force who currently want a job, at 9.0 million, declined by 954,000 in May, after increasing by 4.4 million in April. These individuals were not counted as unemployed because they were not actively looking for work during the last 4 weeks or were unavailable to take a job.

Professional and business services added 127,000 jobs in May, after shedding 2.2 million jobs in April. Over the month, employment rose in services to buildings and dwellings (+68,000) and temporary help services (+39,000), while employment declined in management of companies and enterprises (-22,000).

 

Source:Bureau of Labor and Statistics, THE EMPLOYMENT SITUATION — May 2020

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