May Job Growth Maintains Moderate Pace
Washington, DC, June 7, 2013 -- The economy added 175,000 jobs in May but the unemployment percentage ticked up, according to the Labor Department.
The job growth was almost exactly the average monthly job growth over the last year.
At the current pace, it would take nearly five years to get the economy back to the low unemployment rate in December 2007.
The unemployment rate rose because more people decided to look for a job.
Job gains in May were concentrated in service sectors, while losses mounted in the federal government.