June 13, 2012
May 2012 Market Environment
U.S. Economy
The unemployment rate rose to 8.2% in May as 642K people re-entered the labor force, increasing the labor force participation rate by 0.2% to 63.8%. The number of long-term unemployed is currently 5.4M and accounts for 42.8% of total unemployment with the average duration of unemployment lasting for 39.7 weeks. The non-farm payroll, the net number of non-farm jobs added or subtracted per month, added 69K jobs in May while privatesector employment added 82K jobs. Employment gains occurred in transportation and warehousing (36K), health care (33K), wholesale trade (16K), and manufacturing (12K), while construction employment declined by 28K. Nonfarm payroll employment for March and April were revised downward to show 49K fewer jobs gained.
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