Covering Data of May 2022
Each month, KeldairHR aggregates and summarizes published data on hiring, jobs, and employment. As human resource professionals, business owners, and hiring managers involved in the day to day actions of employment, this information may help you to understand and evaluate the current talent marketplace.
Below are three key data points from the May 2022 Employment Situation Summary published by the U.S. Bureau of Labor Statistics. You can see the full report and underlying data published by the U.S. Bureau of Labor Statistics here.
+ 390,000 jobs
The U.S. Economy added 390,000 jobs in May. (April 2022 was revised upward by 8,000 jobs from +428,000 to +436,000).
Unchanged
The unemployment rate remained unchanged at 3.6% (March & April’s was also 3.6%).
Still Going Up!
Average hourly wages have continued to rise, up 5.2% from a year ago.
01
Economists surveyed by Dow Jones were expecting an increase of 328,000 jobs in May. The U.S. BLS jobs report shows an increase that is nearly 20% higher (390,000). https://www.cnbc.com/2022/06/03/jobs-report-may-2022-.html
02
ZipRecruiter’s chief economist, the private sector has recovered 99% of pandemic-fueled job losses. On the other hand, the public sector has only recovered 58% of lost jobs. https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/bls-hr-jobs-unemployment-june-2022.aspx
03
All major industry groups saw increases in the number of jobs added with the exception of retail (-61,000 jobs). The strongest industries in May were leisure & hospitality and professional services. https://www2.staffingindustry.com/Research/Research-Reports/Americas/June-2022-US-Jobs-Report
04
The share of adults either employed or looking for work increased from April, but is still well behind 2020 pre-pandemic levels. https://www.nytimes.com/live/2022/06/03/business/jobs-report-may-2022
05
The unemployment rate for black workers (6.2%) has remained nearly double that of white workers (3.2%). African American workers were the only demographic that saw its unemployment rate increase in the past 30 days. Ensuring that hiring practices promote diversity, equity and inclusion is critical to building a strong team. https://www.bls.gov/news.release/archives/empsit_06032022.htm
March 2022: Recruiting and Hiring Monthly Data Report Scroll to top 
