Chart of the Day: Net New Jobs in May

Thursday is evil dex day, which means I’ve been up all night. And you’re the winner! The BLS releases jobs numbers at 8:30 am, but I’m on the West Coast and I don’t roll out of bed until several hours after that. That means my take is usually dated before I even put it up. But not today: I’m awake and ready to give you the fresh take you need to start your day. Here we go:

The American economy gained 223,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at 133,000 jobs. The headline unemployment rate dropped to 3.8 percent, but unlike last month this wasn’t due to people dropping out of the labor force. It was almost entirely due to lots of people getting jobs.

Wages of production and nonsupervisory workers were up at an annualized rate of 3.9 percent. With overall inflation running at about 2.4 percent, that’s a significant increase.

This is a very strong jobs report and it makes up for the disappointing April report. Our economic expansion appears to still be on track.

GREAT JOURNALISM, SLOW FUNDRAISING

Our team has been on fire lately—publishing sweeping, one-of-a-kind investigations, ambitious, groundbreaking projects, and even releasing “the holy shit documentary of the year.” And that’s on top of protecting free and fair elections and standing up to bullies and BS when others in the media don’t.

Yet, we just came up pretty short on our first big fundraising campaign since Mother Jones and the Center for Investigative Reporting joined forces.

So, two things:

1) If you value the journalism we do but haven’t pitched in over the last few months, please consider doing so now—we urgently need a lot of help to make up for lost ground.

2) If you’re not ready to donate but you’re interested enough in our work to be reading this, please consider signing up for our free Mother Jones Daily newsletter to get to know us and our reporting better. Maybe once you do, you’ll see it’s something worth supporting.

payment methods

GREAT JOURNALISM, SLOW FUNDRAISING

Our team has been on fire lately—publishing sweeping, one-of-a-kind investigations, ambitious, groundbreaking projects, and even releasing “the holy shit documentary of the year.” And that’s on top of protecting free and fair elections and standing up to bullies and BS when others in the media don’t.

Yet, we just came up pretty short on our first big fundraising campaign since Mother Jones and the Center for Investigative Reporting joined forces.

So, two things:

1) If you value the journalism we do but haven’t pitched in over the last few months, please consider doing so now—we urgently need a lot of help to make up for lost ground.

2) If you’re not ready to donate but you’re interested enough in our work to be reading this, please consider signing up for our free Mother Jones Daily newsletter to get to know us and our reporting better. Maybe once you do, you’ll see it’s something worth supporting.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate