Job growth exceeded 200,000 for the fourth straight month in May, and businesses have now added over a million jobs so far this year. This month’s report continued the trend of steady job growth. While the consistent pace of job gains means the economy has come a long way in recovering from the Great Recession, the President believes that more can and should be done to strengthen economic growth and expand economic opportunity. Continuing to press ahead using his executive authority wherever possible, the President will hold events next week focused on ways to take action to improve college affordability and support working families.
FIVE KEY POINTS IN TODAY’S REPORT FROM THE BUREAU OF LABOR STATISTICS
1. The private sector has added 9.4 million jobs over 51 straight months of job growth. Today we learned that total nonfarm payroll employment rose by 217,000 in May, mainly reflecting a 216,000 increase in private employment, slightly above the 197,000 average pace over the last twelve months. The three-month moving average of 229,000 is the highest in over a year.
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