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US economy added 285,000 jobs in May, but unemployment rose

Posted by New Leaders Council 4 Admin on June 06, 2015 at 10:29 AM

Originally published on MSNBC on June 5, 2015 by Jeff Cox.

The U.S. economy created 280,000 jobs in May, better than expected and likely confirming hopes that growth is back on track after a slow start to the year.

The headline unemployment rate, however, increased slightly to 5.5% as the labor force participation rate ticked higher to 62.9%. A separate measure that counts those working part-time for economic reasons and the unemployed who have not looked for work in the past month held steady at 10.8%.

“Today’s report showed the U.S. labor market has tremendous momentum.”
Andrew Chamberlain, chief economist at Glassdoor

Wages also showed growth, rising eight cents an hour, equating to an annualized increase of 2.3%.

Economists had been expecting a gain of 225,000 positions and the unemployment rate holding steady at 5.4%.

Read the full story here: http://www.msnbc.com/msnbc/us-economy-added-285000-jobs-may-unemployment-rose