Inflation rose 8.6% in May, highest since 1981
Some of the biggest increases came in airfares (up 12.6% on the month), used cars and trucks (1.8%), and dairy products (2.9%). The vehicle costs had been considered a bellwether of the inflation surge and had been falling for the past three months, so the increase is a potentially ominous sign, as used vehicle prices are now up 16.1% over the past year. New vehicle prices rose 1% in May.
Employers Added 390,000 Jobs in May; Unemployment Steady at 3.6%
In May, leisure and hospitality, which includes restaurants and bars, the sector hit hardest by the pandemic, led the job gains with 84,000; professional and business services added 75,000; transportation and warehousing, 47,000; construction; 36,000; health care, 28,000; and manufacturing, 18,000.
Inflation decelerates slightly from 40-year high as CPI rises 8.3% in April
And indeed, the energy price index fell 2.7% in April compared to March, after soaring by 11% during the previous month. Within this category, the motor fuel index dropped 5.8% and the gasoline index dropped by 6.1%, and energy commodities index dipped by 5.4% compared to March.
The U.S. economy aded 428,000 net new jobs in April, the unemployment rate remained unchanged at 3.6%
While the unemployment rate remained unchanged at 3.6%, the labor participation rate fell 0.2 percentage points to 62.2% and total employment declined by 353,000
In March 431,000 jobs were added bringing the unemployment rate to a new pandemic-era low of 3.6%,
Leisure and hospitality led the way, accounting for roughly a quarter of the overall gains. That data spurred hope in the service sector that good times may be back, and stick around more sustainably.
The United States economy added 678,000 jobs and the unemployment rate dropped to 3.8 percent in February 2022, according to the jobs report for February 2022 released by the U.S. Bureau of Labor Statistics.
Job gains occurred the most in leisure and hospitality, professional and business services, health care, and construction.
Non-farm payroll employment rose by 467,000 in January, and the unemployment rate was little changed at 4%
Employment growth continued in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing.
Non-farm payroll rose by 194,000 in September and the unemployment rate fell to 4.8%
Employers added just 194,000 jobs in September, according to a monthly snapshot from the Labor Department. That’s even worse than the anemic job gains in August and far below the pace of hiring earlier in the summer, when employers were adding around a million jobs a month.
Non-farm payrolls rose by 943,000 in July and the unemployment rate fell to 5.4%.
After the July jobs report showed the biggest employment increase in almost a year, the Biden administration is urging Americans to get vaccinated to stave off health and economic threats posed by the Delta variant.