Government reports adding 217,000 jobs last month still not enough to lower unemployment. Labor participation remains an ongoing concern in BLS reporting. Recent reports put the percentage of workers not in the labor force at 37.2% which is a 36 year high.
Today the US Department of Labor, Bureau or Labor Statistics (BLS) released the Employment Situation Summary for unemployment data collected during May 2014. Each month the BLS reports on the Employment Situation by surveying households across the United States. The May 2014 Employment Situation Summary posted an unemployment rate of 6.3% which was unchanged from April reporting when the April's job creation was 288,000.
With national unemployment rate now at 6.3% there are 9.8 million jobless Americans of that number, the Employment Situation Summary reports there are 3.4 million who have been jobless for 27 weeks or more and are deemed long term unemployed. This group of long term unemployed has decreased from the previous month by 100,000. The long term unemployed make up 34.6% of the total national unemployment.
Not counted in the May's national unemployment rate are 7.3 million involuntary part time workers. This group of involuntary part time cannot find full time work or have had their hours reduced to part time. Another category not counted in the national unemployment rate are the 2.1 million persons who are considered marginally attached to the labor force. This 2.1 million is down from the previous month since they have given up looking for a job and are no longer counted as unemployed because they have not searched for work in the last four weeks. Among the marginally attached workers there are 697,000 discouraged workers who has simply given up because they do not believe there is a job out there for them.
Of those jobs created Professional Services and health care added the most jobs at 55,000 each in May. Followed by Leisure and hospitality services adding 32,000 jobs with transportation and warehousing services adding 16,000 jobs. Also during May the average hourly earnings have for private non supervisory employees increased by 3 cents.
To view the full report go to Employment Situation Summary – May 2014. The next national BLS Employment Situation report will be released by the Department of Labor on July 3, 2014 and will evaluate employment data collected during June 2014.
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