Unemployment decreases to 9.7% for May, 431k jobs added
June 4, 2010 · Posted in Commentary
The Bureau of Labor Statistics reported today that the unemployment rate edged down to 9.7% in May with 431,000 jobs being added. Temporary Census workers accounted for 411,000 of the total jobs added. Private sector employment increased by 41,000 jobs.
Let’s breakdown the numbers:
- The unemployment rate for high school drop outs was 15.0%, up from 14.7% last month.
- 4.7% of college graduates were unemployed, down slightly from the previous month.
- The jobless rate for high school graduates was 10.9%, up from 10.6%.
- 9.8% of men 20 and over were unemployed, a slight decrease.
- Women 20 and over had an unemployment rate of 8.1%, down from 8.2%.
- 26.4% of 16 to 19 year olds were unemployed, up from 25.4% last month.
- Jobless rate among whites was at 8.8%, down from 9.0%.
- 15.5% of blacks were jobless, down 1% from the prior month
College graduates continue to enjoy the lowest unemployment rate of the listed groups. The burning question is what the unemployment rate will be once the temporary Census jobs go away.
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