Employment situation changed little in May

Nonfarm employment and the unemployment rate were little changed in May. Manufacturing had another large job loss, which was mostly offset by employment gains in other industries, including services, construction, and finance, insurance, and real estate.

[Chart data—TXT]

Both the number of unemployed persons (6.2 million) and the unemployment rate (4.4 percent) were little changed in May. The unemployment rate was half a percentage point higher than its recent low of 3.9 percent.

Manufacturing employment dropped by 124,000 in May. Since last July, job losses in manufacturing have totaled 675,000, with more than two-thirds of the decline occurring since December. Declines in manufacturing employment were widespread in May.

The Current Employment Statistics program produced the nonfarm payroll employment data. Unemployment data are the product of the Current Population Survey. Find out more about employment and unemployment developments in May in "The Employment Situation: May 2001," news release USDL 01-157.