Scholarship News

Washington, D.C., United States (AHN) – The latest US employment report revealed a major slowdown in the number of jobs created in May with the economy only adding 54,000 jobs to payrolls, not even enough to keep up with growth in the workforce.

It was a sharp contrast to April when the economy added 232,000 jobs added to payrolls, according to the US Department of Labor report released Friday.

However, even the April figures were not much help in bringing down the high unemployment rates created by the recession that officially ended in June 2009.

That is because economists say the nation needs to create around 200,000 jobs each month just to keep up with new people entering the labor force for the first time. But job creation has not picked up and new graduates are having a trouble getting their first job.

To put the nation’s unemployed back to work would require consistently creating more than 200,000 jobs monthly for a decade or more.

The disappointing creation of only 54,000 non-farm jobs basically left unchanged the unemployment rate of 9.1 percent and the number of people unemployed at around 13.9 million, according to the U.S. Bureau of Labor Statistics report.

It also left the percentage of working-age Americans who have either a part- or full-time job unchanged at 64.2 percent for the fifth consecutive month. Before the recession at least 89 percent, or more, of all working-age Americans had a job.

Long-term unemployment rates, defined as those who were jobless for 27 weeks or more, increased by 361,000 to 6.2 million. In addition, their share of the unemployed increased to 45.1 percent.

Unemployment rates among major worker groups were:

• adult men (8.9 percent)
• adult women (8.0 percent)
• teenagers (24.2 percent)
• whites (8.0 percent)
• blacks (16.2 percent)
• Hispanics (11.9 percent)

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