Report | United States Employment Update - June 2016
May's employment growth of just 38,000 net new jobs fell well below expectations, compounded by downward revisions for March and April data. Although unemployment declined to 4.7 percent, this was due to a drop in labor force participation. Some industries, notably education and health, remained steady in May, but goods-producing sectors faced further contraction. Even though job openings continue to rise with hires and quits increasing faster than employment, talent shortages, rising wages and reduced slack in the labor market will all begin to place downward pressure on growth rates in the coming months.
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