Environmental Career Center – Helping people work for a better environment since 1980

The U.S. Bureau of Labor Statistics reports today (June 1) that employers added 69,000 jobs in May with the unemployment rate “essentially unchanged at 8.2%.  The jobs number is lower than than economists anticipated compared to an average increase of 225,000 the previous four months.   March and April jobs numbers were revised downward by 49,000 jobs (-11,00 in March and -38,000 in April).

The unemployment rate edged back up to 8.2 percent in May from 8.1 percent in April and equals the March rate of 8.2 percent.   A couple unique developments continue to impact the unemployment rate.  First, baby boomers are retiring in significant numbers which lowers the number of active job seekers.  Secondly, the accelerated wind-down of the wars in Iraq and Afghanistan are bringing thousands of troops home.   One million military veterans will reenter the civilian employment market in the next five years.  

May is now the 2nd month in a row in which the economy didn’t add at least 100,000 jobs or more.  However, it is the 27th straight month of positive job growth.  125,000 jobs are needed each month to keep up with growth in the potential labor force.