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Unemployment rate is at 5.5%, according to the U.S. BLS. Read more on the @specialcounsel blog: http://spclcn.sl/1G8FxKT
Total employment increased by 280,000 in May, and the unemployment rate is at 5.5 percent, according to the U.S. Bureau of Labor Statistics.
Employment numbers in the legal industry continue to inch upward as May added another 300 jobs to the total employed in the field. Over the the past year, the legal services industry has gained 3,400 jobs. The number of total unemployed is still unchanged at approximately 8.7 million – and this includes 103,000 new, never-employed grads who entered the market last month.
The majority of job increases were in professional and business services, which added 63,000 jobs in May and 671,000 jobs over the year. Employment also trended upward in management and technical consulting services with an increase of 7,000 and in architectural and engineering services with an increase of 5,000. Professional and technical services saw a significant jump of 19,000 and a 4,000 increase in management of companies and enterprises continues the upward trend.
Total nonfarm payroll employment increased by 280,000 in May, according to the U.S. Bureau of Labor Statistics, compared with an average monthly gain of 251,000 over the prior 12 months. The unemployment rate was relatively steady at 5.5 percent. Financial activities continued its steady increase in May with jobs gains of 13,000, which is consistent with its prior 1year-long average change of 13,000. Over the past year, the industry has added 160,000 jobs, with about half of the gain in insurance carriers and related activities. Financial activities has recovered 61 percent of the jobs lost in its last period of peak to low from December 2006–February 2011. Employment in other major industries, including manufacturing, wholesale trade, information, and government, showed little change over the month.
The average workweek for all employees on private nonfarm payrolls remained at 34.5 hours in May. The manufacturing workweek was unchanged at 40.7 hours, and factory overtime remained at 3.3 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up by 0.1 hour to 33.7 hours.
Special Counsel releases monthly economic reports for employers in order to share important hiring and employment information. To learn more about the trends in the legal staffing market, contact a Special Counsel representative near you. Contact us today.
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