, which was reported by the Department of Labor on Friday, June 2, was the largest since April 2020. Outside the COVID-19 pandemic, it was the biggest jump since 2010, reflecting a drop in household employment and a rise in the workforce. The gradual increase in the labor pool is easing pressure on businesses to raise wages.inflation
The survey of establishments showed nonfarm payrolls rose by 339,000 jobs last month. Economists polled by Reuters had forecast payrolls would increase by 190,000. The economy created 93,000 more jobs in March and April than previously estimated. The healthcare sector added 52,000 jobs, most of them in ambulatory healthcare services and hospitals. Leisure and hospitality payrolls were up 48,000, boosted by restaurants and bars. This industry’s employment remains 349,000 below its pre-pandemic level. Construction gained 25,000 positions, while transportation and warehousing added 24,000 jobs.
Details of the household survey from which the unemployment rate is calculated were largely soft. Household employment dropped by 310,000 positions last month. It was pulled down by a drop in self-employment, likely reflecting an ongoing strike by 11,500 members of the Writers Guild of America.