06/05/2026
Here is my analysis derived from today's Labor Department, Bureau of Labor Statistics (BLS) Job Numbers:
1. 172,000 (+57,000 versus last month) non-farm jobs were created in in May.
2. 13.8 million (-300,000 versus last month) = 7.3 mil. (-100,000 versus last month) Unemployed + 4.8 mil. (-100,000 versus last month) Involuntarily working part-time + 1.7 mil (-100,000 versus last month) are not even counted = 13.8 million workers (-300,000 versus last month)who are either unemployed or underemployed!
3. The broad measure of unemployment and underemployment (also known as U6: https://www.macrotrends.net/1377/u6-unemployment-rate) that includes Americans stuck in part-time jobs or too discouraged to look for work is at 8.2% = about 1 in 12 persons you meet!
4. BLS said that the National Unemployment rate stayed the same again in May at 4.3%
5. Illinois unemployment stayed the same at 5.1% in April (latest figures).
6. The labor participation stayed the same at 61.8%.
7. Average hourly earnings ROSE another 12 cents to $37.53 in May.
8. The average work week stayed the same at 34.3 hours in May.
9. The JOB GAINS were in a) Healthcare adding another 35,000 jobs (-2,000 versus last month) in May (average monthly gain of 38,000 jobs over the past 12 months) b) Leisure & Hospitality, which added 70,000 jobs c) Local Government, which added 55,000 jobs d) Social Assistance rose by another 12,000 (-5,000 versus last month) and e) Mining, Quarrying and Oil & Gas Exploration rose by 5,000.
10. Major losses were in Financial Activities which lost 22,000 jobs in May!