US nonfarm payroll for May rose +2509K vs -7500K estimate

Highlights of the US May employment report

Nonfarm payroll nonfra
  • Change in Nonfarm payroll 2509K vs -7500K estimate. Prior month revised to -20687K vs -20537K estimate
  • two month Prior month revised -642K
  • Unemployment rate 13.3% vs. 19% estimate. Prior month 14.7%
  • Change in private payroll 3094K vs -6750K estimate. Prior month -19724K vs. -19557K
  • Change in Manufacturing jobs plus 225K vs. -400K estimate
  • Average weekly hours 34.7 vs. 34.3 estimate
  • Average hourly earnings MOM -1.0% vs. +1.0 estimate
  • Average hourly earnings YoY 6.7% vs. 8.5% estimate
  • Participation rate 60.8% vs. 60.1% estimate. Last month 60.2%
  • Service sector rose by 2.4 million
  • goods producing jobs increase 669K vs -2373K last month
A breakdown of the sectors shows:
  • leisure and hospitality showed a gain of 1.239 million vs. -7.539 last month
  • retail trade increased by 368K vs -2286K last month
  • education, health increase by 424K vs -2590K last month
  • business services rose by 127K vs.-2189K last month
  • construction jobs rose 464K vs -995K last month
  • government jobs fell -585K vs -963K last month
  • financial rose 33K va -264K last month
  • information-38K vs -272K last month
  • Trade, transport +368K vs -3225Klast month
Surprise. Surprise.