DOL Releases Report on Employment Situation — May 2008

The U.S. Department of Labor released its report for May 2008 on the employment situation in the U.S. The table of contents for the report can be found here. This is the DOL summary:


The unemployment rate rose from 5.0 to 5.5 percent in May, and nonfarm payroll employment continued to trend down (-49,000), the Bureau of Labor Statistics of the U.S. Department of Labor reported today. In May, employment continued to fall in construction, manufacturing, retail trade, and temporary help services, while health care continued to add jobs. Average hourly earnings rose by 5 cents, or 0.3 percent, over the month.