May jobs report shows steady unemployment rate, impact of Trump tariffs

Channel: Fox Business
Published: 9 hours ago

Description
FBN's Edward Lawrence breaks down the highly anticipated May jobs report. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FB...



Transcript
Let'S get right to edward lawrence right now he's at the labor department, with the embargoed report on jobs for may, edward 75,000 jobs were created last month in this economy, 90,000 in the private sector, but there was a loss of 15,000 in the government sector 10,000 of Those losses coming from state government jobs, unemployment rate at 3. 6 percent holding steady revisions in march were revis ...
d down from what he need. I to 153 april was revised down from 263 to 224. That'S a loss, a net revision loss of 75,000 jobs. Now the u6 is down to seven point. One percent long-term unemployment rate is 22 point. Four percent of unemployed the average hourly wages rose justthree point one percent over the past twelve months. That'S a point two percent increase month over month it rose six cents to 2783. That labor force participation rate was sixty two point: eight percent, the employment-to-population ratio is 60 point, six percent little changed or unchanged average hourly workweek unchanged. Thirty-Four point four hours: non-supervisory rages up: seven cents; white unemployment, ticked up to three point: three percent: black unemployment. At six point two percent and excuse me the last time it was that high was november 2018 hispanic unemployment, wait four point: two percent unchanged: the asian unemployment rate ticked up to two point: five percent: another largest job gains were in healthcare, again: 16,000 jobs added threethousand. In manufacturing, a thousand in mining retail lost seventy six hundred jobs, so there you have it.

Seventy five thousand jobs created last month in the economy, unemployment rate holding steady at three point: six percent back to everything: semi.


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