employment growth

The economy created 138,000 jobs in May, Reuter reports. Although it’s lower than 2017’s monthly average, it exceeds the 75,000 – 10,000 jobs needed to accommodate those newly entering the workforce. Economists speculate that the slowed job growth is related to the political uncertainty of the Trump administration.  

Meanwhile, the unemployment rate for May was 4.3%, the lowest it has been in 16 years. Average hourly wages increased 4 cents last month, clocking a yearly increase of 2.5%.

The good news for recruiters is that there are still candidates entering the workforce and plenty of jobs to fill.

Source: Reuters, U.S. job growth slows; unemployment rate drops to 4.3 percent