Economic News Releases
MAJOR ECONOMIC INDICATORS
In May, the Consumer Price Index for All Urban Consumers rose 1.0 percent, seasonally adjusted,
and rose 8.6 percent over the last 12 months, not seasonally adjusted. The index for all items
less food and energy increased 0.6 percent in May (SA); up 6.0 percent over the year (NSA).
Compensation costs increased 1.4 percent for civilian workers, seasonally adjusted, from December 2021 to March 2022. Over the year, total compensation rose 4.5 percent, wages and salaries rose 4.7 percent, and benefit costs rose 4.1 percent.
Total nonfarm payroll employment rose by 390,000 in May, and the unemployment rate
remained at 3.6 percent. Notable job gains occurred in leisure and hospitality, in
professional and business services, and in transportation and warehousing.
Employment in retail trade declined.
The Producer Price Index for final demand increased 0.8 percent in May. Prices for final demand
goods advanced 1.4 percent, and the index for final demand services rose 0.4 percent. Final
demand prices moved up 10.8 percent for the 12 months ended in May.
Productivity decreased 7.3 percent in the nonfarm business sector in the first quarter of 2022;
unit labor costs increased 12.6 percent (seasonally adjusted annual rates). In manufacturing,
productivity increased 0.2 percent and unit labor costs increased 5.7 percent.
Real average hourly earnings for all employees decreased 0.6 percent in May, seasonally adjusted. Average hourly earnings increased 0.3 percent, and CPI-U increased 1.0 percent. Real average weekly earnings decreased 0.7 percent.
Prices for U.S. imports increased 0.6 percent in May, after advancing 0.4 percent in
April. Export prices rose 2.8 percent in May following a 0.8-percent increase the previous
month. Over the past year, import prices advanced 11.7 percent and export prices rose
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Last Modified Date: April 4, 2022