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Services Creates New Jobs in the US
Jun 10, 2002

Services Creates new Jobs in the US Employment rose in the services industry and edged down in manufacturing, in according to the latest household survey of the Bureau of Labor Statistics released June 7, 2002. Most other major industries showed no significant change.Both payroll employment and the unemployment rate were little changed in May, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.

The number of unemployed persons (8.4 million) and the unemployment rate (5.8 percent) were little changed over the month. The May unemployment rate is 1.9 percentage points above its most recent low of 3.9 percent in October 2000, and the number of unemployed persons is 2.8 million higher.

In May, the unemployment rates for blacks (10.2 percent) and Hispanics (7.0 percent) declined. The rates for the other major worker groups--adult men (5.2 percent), adult women (5.2 percent), teenagers (16.9 percent), and whites (5.2 percent)--were little changed.

The number of long-term unemployed persons--those unemployed 27 weeks or longer--rose by 142,000 in May, following increases of similar size in March and April. This measure has increased by about 1 million persons over the past 12 months.

Retail trade and wholesale trade continued to shed jobs in May, which were more than offset by new jobs in other services such as business services, travel and tourism, and social services.

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