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Stocks up, dollar down after May’s US jobs report – business live | Business

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More than half the 559,000 new jobs created in May were in the leisure and hospitality trade, where payrolls swelled by 292,000 as people flocked to bars and restaurants.

Nearly two-thirds of the increase was in food services and drinking places (+186,000), with another 58,000 new jobs in amusements, gambling, and recreation, and 35,000 in accommodation.

But, leisure and hospitality is still missing 2.5 million jobs since the pandemic began.

In education, employment rose by 144,000 — including 53,000 in local government education, by 50,000 in state government education, and by 41,000 in private education.

Health care and social assistance added 46,000 jobs, including 22,000 new jobs in “ambulatory health care services”, and 18,000 in child day care services (perhaps reflecting increased demand from parents returning to work).

Employment in information rose by 29,000, including 14,000 in motion picture and sound recording industries.

Manufacturing employment rose by 23,000. That included a 25k gain in motor vehicles and parts, following a 38k fall in April (blamed on shortages of key parts such as computer chips).

Transportation and warehousing added 23,000 jobs, while employment in wholesale trade increased by 20,000.

But construction employment fell by 20,000, mainly due to job losses for nonresidential specialty trade contractors (-17,000).

That may be due to the shortages of materials that have hit builders in America (and beyond…).

Stinson 🌲🪓 🏠

Hard to construct stuff without construction materials https://t.co/0VfWm2f7m1

June 4, 2021

Heather Long

Big job gains in hospitality & education –> a clear sign of return to in-person activities.

Hospitality: +292,000
Education (public+private): +144,000
Healthcare: +46,000
Manufacturing: +23,000
Warehouse: +23,000
Temp help: +4,000

Oddly, construction LOST 20,000 jobs in May

June 4, 2021



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