May 2014: unemployment rate steady at 6.3 percent

Bureau of Labor Statistics’ monthly news release, the unemployment rate held steady at 6.3 percent in May, consistent with April 2014’s rate. The report also indicated an increase of 217,000 jobs total across several major non-farming industries.

  • Professional services, which includes computer systems, management and temporary services, added 55,000 jobs last month. Over the past 12 months, this industry has increased by 224,000 jobs.
  • The healthcare industry added 55,000 jobs last month, the majority of those jobs being in ambulatory health care services and social assistance. This rate of new jobs increased at double its rate during the previous year, and triple the rate for social assistance jobs over the same time period.
  • The food services industry saw gains of 32,000 jobs. More than 311,000 jobs in food service have been added since May 2013.
  • Transportation also saw 16,000 new jobs filled in May, up from its previous average of 9,000 jobs per month.
Other industries, including construction, retail, government, mining and the financial sector showed little change in the number of jobs available from April to May. As far as wages, there has been a 2.1 percent increase in average hourly earnings during the previous year, which accounts for a 5-cent per hour wage increase for those working private, non-farming jobs. That increase brings the average pay for private workers to $24.38 per hour.]]>

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