Statement on the Employment Situation in May - KPLC 7 News, Lake Charles, Louisiana

Statement on the Employment Situation in May

Private Sector Payroll Employment Private Sector Payroll Employment

The following is a Press Release from Office of the Press Secretary at The White House:

The Employment Situation in May

Posted by Alan B. Krueger on June 1, 2012 at 9:34AM EDT 

Problems in the job market were long in the making and will not be solved overnight.  The economy lost jobs for 25 straight months beginning in February 2008, and over 8 million jobs were lost as a result of the Great Recession.  We are still fighting back from the worst economic crisis since the Great Depression. 

Today we learned that the economy has added private sector jobs for 27 straight months, for a total of 4.3 million payroll jobs over that period.  The economy is growing but it is not growing fast enough. BLS's establishment survey shows that private businesses added 82,000 jobs last month, and overall non-farm payroll employment rose by 69,000.  The unemployment rate ticked up from 8.1% in April to 8.2% in May, according to BLS's household survey.  However, the labor force participation rate increased 0.2 percentage point to 63.8%, and employment rose by 422,000 according to the household survey. 

There is much more work that remains to be done to repair the damage caused by the financial crisis and deep recession that began at the end of 2007.  Just like last year at this time, our economy is facing serious headwinds, including the crisis in Europe and a spike in gas prices that hit American families' finances over the past months.  It is critical that we continue the President's economic policies that are helping us dig our way out of the deep hole that was caused by the severe recession.   

In the American Jobs Act and in the State of the Union Address, the President put forward a number of proposals to create jobs and strengthen the economy, including proposals that would put teachers back in the classroom and cops on the beat, and put our nation's construction workers back on the job rebuilding our nation's infrastructure.  The President has also proposed a "To-Do List" of actions that Congress should take to create jobs and help restore middle-class security.  This includes eliminating tax incentives to ship jobs overseas, cutting red tape so responsible homeowners can refinance, giving small businesses that increase employment or wages a 10 percent income tax credit, investing in affordable clean energy, and helping returning veterans find work.  The President is in Minneapolis today to announce a new executive action that will establish private sector partnerships to help military service members acquire recognized occupational credentials—as welders, as machinists, and ultimately in a broader range of occupations.  These partnerships will help service members find private sector jobs once they leave the military, and they will help firms in manufacturing and other industries that need workers to fill their vacant positions.   

Manufacturing employment continues to expand and manufacturers added 12,000 jobs in May.  After losing millions of good manufacturing jobs in the years before and during the recession, the economy has added 495,000 manufacturing jobs since January 2010--the strongest growth for any 28-month period since April 1995.  To continue the revival in manufacturing jobs and output, the President has proposed tax incentives for manufacturers, enhanced training for the workforce, and measures to create manufacturing hubs and encourage the growing trend of insourcing. 

Other sectors with net job increases included education and health services (+46,000), transportation and warehousing (+35,600), wholesale trade (+15,900), and temporary help services (+9,200).  Construction lost 28,000 jobs, accounting services lost 14,000 jobs, government lost 13,000 jobs, and leisure and hospitality lost 9,000 jobs.  State and local governments shed 8,000 jobs, mostly in education. 

As the Administration stresses every month, the monthly employment and unemployment figures can be volatile, and employment estimates can be subject to substantial revision.  Therefore, it is important not to read too much into any one monthly report and it is helpful to consider each report in the context of other data that are becoming available.

  • More Local NewsNewsMore>>

  • Fenton city council reviews 2016 audit report

    Fenton city council reviews 2016 audit report

    Tuesday, December 12 2017 11:16 PM EST2017-12-13 04:16:22 GMT
    (Source: Maranda Whittington/KPLC)(Source: Maranda Whittington/KPLC)
    Over a month ago KPLC  told you about audit issues happening in the town of Fenton.  Mayor Eddie Alfred's payroll records for last year showed he was overpaid over $12,000.  Tuesday night the village held their city council meeting where they reviewed last year's audit.  No comments were coming from Fenton Mayor Eddie Alfred or auditor Coy Vincent.  Tuesday night Fenton city council met to review the town's audit from last year.  Back in late October...More >>
    Over a month ago KPLC  told you about audit issues happening in the town of Fenton.  Mayor Eddie Alfred's payroll records for last year showed he was overpaid over $12,000.  Tuesday night the village held their city council meeting where they reviewed last year's audit.  No comments were coming from Fenton Mayor Eddie Alfred or auditor Coy Vincent.  Tuesday night Fenton city council met to review the town's audit from last year.  Back in late October...More >>
  • BREAKING: Democrat Doug Jones wins U.S. Senate Special Election in Alabama

    U.S. Senate Special Election: Election Results

    Get up to the minute results for the U.S. Senate Special Election.

    More >>

    Get up to the minute results for the U.S. Senate Special Election.

    More >>
  • What happens if the FCC repeals Net Neutrality?

    What happens if the FCC repeals Net Neutrality?

    Tuesday, December 12 2017 8:34 PM EST2017-12-13 01:34:29 GMT

    Where would we be without the Internet? Your access to information takes seconds Soon, things might change. The FCC announced, last week, a final proposal that would do away with net neutrality. That's coming to vote this Thursday. If this debated regulation is repealed, it may mean goodbye to open Internet, and hello to paying more in services or even a slower Internet speed. Let's break it down. Net neutrality, what is it? It’s a basic principle that prohibits internet p...

    More >>

    Where would we be without the Internet? Your access to information takes seconds Soon, things might change. The FCC announced, last week, a final proposal that would do away with net neutrality. That's coming to vote this Thursday. If this debated regulation is repealed, it may mean goodbye to open Internet, and hello to paying more in services or even a slower Internet speed. Let's break it down. Net neutrality, what is it? It’s a basic principle that prohibits internet p...

    More >>
Powered by Frankly