May 2021 U.S Economy is Strong, With a 559,000 Additional Job Outlook

June 9, 2021

In May 2021, the total nonfarm payroll increased by 559,000, according to the U.S Bureau of Labor Statistics, while the unemployment rate declined by 0.3%. Industries with the most career gains included hospitality and leisure, education, and healthcare.1

Below, we examine the Bureau of Labor Statistics job report for April and May of 2021. This data includes the current U.S unemployment rate, job openings, hire versus separation rate, as well as an overview of the industries with the greatest number of job gains and decreases.

Unemployment

According to the U.S Bureau of Labor Statistics report, in May 2021, the unemployment rate declined by 0.3%, which brought it down to 5.8%. The total number of unemployed U.S citizens decreased by 496,000.1

Job Openings

Regarding job openings, by the end of April 2021, a high of 9.3 million (0.6%+) was reached, respectively,2 compared with 8.1 million in March 2021.3

Industries with Top Job Gains & Decreases

Between the months of April and May 2021, the hospitality and leisure industry saw the greatest increase in jobs at 292,000, followed by education and health services at 87,000. Government jobs increased by 67,000 while business and professional services increased by 35,000. Conversely, retail jobs decreased by 5,800 and construction jobs decreased by 20,000.4

Hires vs. Separations

The total number of hires slightly shifted to 6.1 million and the total number of job separations increased by 324,000, reaching 5.8 million. Notably, the total job separation count includes quits, layoffs and discharges, in addition to other forms of separation.2

At Comrise, putting people to work is what we do – supplying both employees and employers with the resources and information they need for career success is just part of how we do it. Take the first step and view our current client openings today!

References

The U.S Bureau of Labor Statistics. The Employment Situation – May 2021. Retrieved June 8th, 2021, from https://bit.ly/3w7oc7D
The U.S Bureau of Labor Statistics. Job Openings and Labor Turnover – April 2021. Retrieved June 8th, 2021, from https://bit.ly/2RDkAep
The U.S Bureau of Labor Statistics. TED: Job Openings Reach a High of 8.1 Million in March 2021. Retrieved June 9th, 2021, from https://bit.ly/351YkOi
Hoff M. (2021, June 4). Restaurants and hotels continued their streak of adding the most jobs out of any industry in May. Business Insider. https://bit.ly/3glEtir

Master Your Response: Tough-To-Answer Interview Questions

January 24, 2023

You’ve been on the job hunt for awhile and have applied to numerous jobs that peaked your interest. Better yet, you may have received the email formally requesting your very...

Cracking the Code: How to Attract and Retain Gen-Z Talent

December 27, 2022

It’s official – Gen-Z talent will make up roughly 27% of the workforce by 2025, and they’re making tidal waves of change. This is a highly diverse group of people...

Comrise-Risewave At The 5th Annual China International Import Expo

November 8, 2022

The 5th Annual China International Import Expo By: Helena Ma, Marketing Director of Comrise APAC The China International Import Expo (CIIE), one of the world’s best platforms to release new...