US unemployment rate rose three tenths in May

The unemployment rate in the United States rose three tenths in May, up to 3.7 %, despite the fact that 339,000 new jobs were created, according to data published by the Labor Department.

However, the unemployment rate in the US still remains within the range of 3.4 % and 3.7 % in which it has been fluctuating since March 2022.

The total number of unemployed reached 6.1 million people after adding 440,000 new people to the unemployment lists. In particular, those unemployed for less than five weeks grew by 217,000, to 2.08 million, and those without work for 15 to 26 weeks, which added 179,000 more people to account for a total of 858,000.

The long-term unemployed (more than 27 weeks without a job) remained “basically unchanged” at 1.2 million, while those without a job for 5 to 14 weeks lightened their figure, to 1.87 million after falling in 50,000.

In the fifth month of 2023, employment continued to show an upward trend in professional and business services, services, public employment, construction, transportation and storage, and social assistance.

The number of people employed part-time for economic reasons held at around 3.74 million in May, while the labor force participation rate was 62.6 %, unchanged.

Source: dpa

(Reference image source: Joyce Romero, Unsplash)

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