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Key Points:
- Total nonfarm payroll employment rose by 139,000 in May and the unemployment rate was unchanged at 4.2%.
- Consensus was a gain of 130,000 jobs.
- The change in total nonfarm payroll employment for March was revised down by 65,000, from +185,000 to +120,000, and the change for April was revised down by 30,000, from +177,000 to +147,000. With these revisions, employment in March and April combined is 95,000 lower than previously reported.
- Healthcare added 62,000 jobs in May, leisure and hospitality added 48,000, and social assistance added 16,000 jobs.
- Federal government employment fell by 22,000 in May.
- In May, average hourly earnings for all employees on private nonfarm payrolls rose by $0.15 to $36.24.
- The average workweek for all private employees was unchanged at 34.3 hours in May.
- The labor force participation rate decreased by 0.2% over the month to 62.4%.
- The Right Facts will continue to monitor employment.
Key Points:
- Job openings rose to 7.4 million in April, above consensus of 7.1 million, after March was revised up by 8,000 to 7.2 million.
- The number of job openings decreased in accommodation and food services (-135,000) and in state and local government, education (-51,000). The number of job openings increased in arts, entertainment, and recreation (+43,000) and in mining and logging (+10,000).
- The U.S. added 177,000 jobs in April but there were 7.2 million people unemployed.
- The number of job openings for March was revised up by 8,000 to 7.2 million, the number of hires was revised down by 7,000 to 5.4 million, and the number of total separations was revised up by 46,000 to 5.2 million. Within separations, the number of quits was revised up by 12,000 to 3.3 million, and the number of layoffs and discharges was revised up by 32,000 to 1.6 million.
- In April, the number and rate of hires were little changed at 5.6 million.
- The number of total separations in April was little changed at 5.3 million. Total separations increased in federal government (+9,000).
- Within separations, quits (3.2 million) and layoffs and discharges (1.8 million) changed little.
- The number of quits was down by 220,000 over the year.
- Layoffs and discharges increased in health care and social assistance (+52,000) but decreased in state and local government, excluding education (-14,000) and in federal government (-4,000).
- The labor force participation rate changed little over the month at 62.6%.
- The Right Facts will continue to monitor unemployment and job openings.
Key Points:
- U.S. consumer spending rose by 0.2%, or $47.8 billion, in April after rising 0.7% in March.
- Personal income increased by 0.8%, or $210.1 billion, in April, after rising 0.7% in March.
- The overall personal consumption expenditures price index edged up 0.1% in April and is up 2.1% from a year prior.
- The core personal consumption expenditures price index, which excludes food and energy, rose 0.1% and is up 2.5% from a year prior.
- 2.5% Core PCE index was the lowest reading since March 2021.
- The Right Facts will continue to monitor spending, prices, and income.
Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose 0.1% in April, down from an upward revised 1.7% decrease in March.
- Consensus among economists was no change over the month.
- Excluding autos, retail sales rose by 0.1% over the month.
- Retail sales were 5.2% above April 2024 while CPI data released earlier this month showed prices have increased 2.3% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the February 2025 through April 2025 period were up 4.8% from the same period a year ago.
- The Right Facts will continue to monitor retail sales.
Key Points:
- The Consumer Price Index (CPI) rose 0.2% in April, after falling 0.1% in March.
- CPI increased 2.3% from a year ago, down from 2.4% in March.
- 2.3% is the lowest reading since February 2021.
- The index for shelter rose 0.3%, the index for food fell 0.1%, and the energy index rose 0.7% over the month.
- The index for food at home fell 0.4% over the month while the index for food away from home rose 0.4%.
- The core CPI, which excludes food and energy, rose 0.2% in April and is up 2.8% from the previous year.
- The energy index is down 3.7%, the food index is up 2.8%, and shelter is up 4.0% from the previous year.
- The Right Facts will continue to monitor CPI.
Key Points:
- Total nonfarm payroll employment rose by 177,000 in April and the unemployment rate was unchanged at 4.2%.
- Consensus was a gain of 130,000 jobs.
- The change in total nonfarm payroll employment for February was revised down by 15,000, from +117,000 to +102,000, and the change for March was revised down by 43,000, from +228,000 to +185,000. With these revisions, employment in February and March combined is 58,000 lower than previously reported.
- Healthcare added 51,000 jobs in April, transportation and warehousing increased by 29,000, financial activities employment rose by 14,000, and social assistance added 8,000 jobs.
- Federal government employment fell by 9,000 in April.
- In April, average hourly earnings for all employees on private nonfarm payrolls rose by $0.06 to $36.06.
- The average workweek for all private employees was unchanged at 34.3 hours in April.
- The labor force participation rate changed little over the month at 62.6%.
- The Right Facts will continue to monitor employment.
Key Points:
- U.S. consumer spending rose by 0.7%, or $134.5 billion, in March after rising 0.4% in February.
- Personal income increased by 0.5%, or $116.8 billion, in March, after rising 0.7% in February.
- The overall personal consumption expenditures price index was unchanged in March and is up 2.3% from a year prior.
- The core personal consumption expenditures price index, which excludes food and energy, was unchanged in March and is up 2.6% from a year prior.
- The Right Facts will continue to monitor spending, prices, and income.
Key Points:
- The Consumer Price Index (CPI) fell 0.1% in March, after rising 0.2% in February.
- CPI increased 2.4% from a year ago, down from 2.8% in February.
- The index for shelter rose 0.2%, the index for food rose 0.4%, and the energy index fell 2.4% over the month.
- The index for food at home rose 0.5% over the month while the index for food away from home rose 0.4%.
- The core CPI, which excludes food and energy, rose 0.1% in February and is up 2.8% from the previous year.
- That was the smallest increase in the core measurement since March 2021.
- The energy index is down 3.3%, the food index is up 3.0%, and shelter is up 4.0% from the previous year.
- The Right Facts will continue to monitor CPI.
Key Points:
- Total nonfarm payroll employment rose by 228,000 in March and the unemployment rate rose slightly to 4.2%.
- Consensus was a gain of 135,000 jobs.
- The change in total nonfarm payroll employment for January was revised down by 14,000, from +125,000 to +111,000, and the change for February was revised down by 34,000, from +151,000 to +117,000. With these revisions, employment in January and February combined is 48,000 lower than previously reported.
- Healthcare added 54,000 jobs in March, social assistance increased by 24,000, retail trade added 24,000 jobs, and transportation and warehousing rose by 23,000.
- Federal government employment fell by 4,000 in March.
- In March, average hourly earnings for all employees on private nonfarm payrolls rose by $0.09 to $36.00.
- The average workweek for all private employees was unchanged at 34.2 hours in March.
- The labor force participation rate changed little over the month at 62.5%.
- The Right Facts will continue to monitor employment.
Key Points:
- U.S. consumer spending rose by 0.4%, or $87.8 billion, in February after falling 0.3% in January.
- Personal income increased by 0.8%, or $194.7 billion, in February, up from 0.7% in January.
- The overall personal consumption expenditures price index rose 0.3% in February and is up 2.5% from a year prior.
- The core personal consumption expenditures price index, which excludes food and energy, rose 0.4% in February and is up 2.8% from a year prior.
- The Right Facts will continue to monitor spending, prices, and income.
