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'Supply Constraints Are NOT GREAT BOB': Economists React To May Jobs Report On Twitter

Total nonfarm payroll employment rose by 559,000 jobs in May, the U.S. Bureau of Labor Statistics reported Friday

The unemployment rate fell from 6.1% to 5.8%.


Notable job gains were found in leisure and hospitality, which added 292,000 jobs in May, the most of any industry. This sector has led job growth for the last four months. Almost two-thirds of those jobs were in food services and drinking places as restrictions eased in many states.

Similarly, employment increased in education in May as in-person learning and other school-related activities resumed. But the sector is still below February 2020 levels by 556,000 jobs in local government education, 244,000 jobs in state government education and 293,000 jobs in private education.

In other real estate-related job sectors, manufacturing added 23,000 jobs in May, and transportation and warehousing also added 23,000 jobs. Clothing and accessories stores added 11,000 jobs, but employment in retail trade is below its February 2020 level by 411,000 jobs.

Construction employment fell by 20,000 jobs in May. The construction industry has 225,000 fewer jobs now than it did in February 2020.

Here's how economists and others reacted to May's jobs report on Twitter.