Facts and Figures

Employment and Unemployment

Mon. June 20, 2016

May 2016

Total nonfarm payroll changed little (+38,000). In May, the unemployment rate declined by 0.3 percentage points to 4.7%. Employment increased in health care. Job losses continued in mining. Employment in information decreased due to a strike.

The unemployment rate is a broad, though somewhat crude measure of how workers are faring in the economy. It does not count discouraged workers, nor does it measure under-employment (for example, workers who want a full-time job but can only find part-time work). Making these adjustments would bring the measured unemployment rate up to 10.8%. But even an adjusted unemployment rate says nothing about the quality of jobs in the economy. This last point is particularly important to keep in mind, given the growth of non-standard (temporary and/or contingent) jobs in the U.S. economy.

 

This Month

Last Month

Change

Number Employed
151.030 million
151.004 million
0.03 million
Number Unemployed
7.436 million 7.920 million -0.48 million
Unemployment Rate
4.7% 5.0%

-0.300%


Overall Unemployment Rate                                        
4.7%
Whites
4.1%
African-Americans
8.2%
Latinos
5.6%
Asians
4.1%
Women
4.2%
Men
  4.3% 
Teenagers
16.0%

Multiple Jobholders                             
7.472 million - (or 4.9% of those employed)

 

Source: U.S. Department of Labor, Bureau of Labor Statistics, The Employment Situation.

 

Updated 6/20/2016 by IAM&AW Strategic Resources Department