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Employment Increases Compared to Last Year

Intelligent Economics > Analysis > Employment Increases Compared to Last Year

Employment for the month of May totaled 1,134,000, a 5.91% increase compared to May 2021, and a -0.4% drop compared to April 2022.

Source: Department of Labor

Occupations with the largest increase in employment include Professional, Executive and Managerial Occupations, 31.1%, Technicians, Sales and Personnel Support, 26.4%, and Service Occupations, 16.5%. 

Employment in agriculture totaled 15,000, almost doubled compared to May 2021 (8,000). While those who work on their own totaled 220,000, an increase of 9.3% year-over-year. 

The industries with the largest over the month decrease were Trade, transportation and utilities, -0.38%, government, -0.27%, and retail trade, -0.30%.

 Compared to the same month in the previous year the only industry that had a decrease of employment was Government with a -0.5% decrease. More specifically the subgroup that carried the most weight was the state government positions that faced a 1.41% decrease in employment rates. 

Interestingly the manufacturing industry in general saw no change in the last month, but more specifically the durable goods industry faced an increase, 0.2%,  when compared to the previous month and the non durable goods industry faced a decrease, 0.2%. the interaction of the subcategories of the manufacturing industry is displayed because when they one increased and the other decreased about the same percentage the manufacturing industry in general stayed neutral and had no change. 

Unemployment rate was 6.2%, the lowest in the past 15 years. While the Participation Rate was 43.6%, a decrease compared to April 2022 (44.1%), but an increase from May 2021 (42.7%).  

Source: Department of Labor

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