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The Bureau of Labor Statistics today published it’s May Employment Situation survey results.
More interactive Tables and Charts
According to the BLS Survey, Non-Farm Payroll employment grew by 217,000, and within that figure, Private sector payrolls by 216,000 in May.
Our purely mathematical “trend forecast” based on the BLS’s model for seasonal adjustment, had given 235,000 and 231,000 respectively as the continuation of trend for those payrolls.
In the bar chart to the right we can see that the main divergence from trend came in two sectors:
Construction: Only 6,000 jobs were added in this sector in May, as opposed to the 38,000 to be expected if the underlying trend in growth had continued.
Education and Health Services: The reported jobs growth was 63,000 as opposed to the trend growth of only 33,000. Almost all of this came from the Health sub-sector.
See time-series charts below.
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