Retail Jobs in the US Grew in May

In May, the US retail trade sector added 11,600 jobs in May, up from the 10,000 added in April, when adjusted for seasonal changes. However, the US Department of Labour Statistics considers this increase as “little changed over the month” due to the modest gains. Nevertheless, May’s report still reflects improvement compared to a year ago when the retail trade sector experienced a loss of 51,400 jobs. Resilient Job Growth Across Multiple Sectors Overall, the US labour market demonstrated resilience by adding 339,000 jobs, seasonally adjusted, surpassing the expectations of economists who were anticipating around 200,000 job additions. The bulk of the job gains occurred in professional services, government, health care, construction, and transportation and warehousing. Despite this positive trend, the unemployment rate saw a slight increase from 3.4 percent to 3.7 percent, leaving 6.1 million individuals without a job. The Manufacturing Sector Faces Employment Challenges In contrast, th...