The U.S. Bureau of Labor Statistics released its May employment report on Friday, showing that the national unemployment rate sank to its lowest level in 14 years despite a disapointing number of jobs added in the month.
The report said the U.S. added 138,000 jobs last month, compared to 211,000 jobs added in April, while the unemployment rate improved by one-tenth of a point to 4.3 percent — its best mark since May 2003.
Manufacturing didn’t help the cause, however, losing 1,000 jobs in May — snapping five straight months of jobs gains. Even so, May’s non-seasonally adjusted manufacturing unemployment rate fell 0.7 percentage points during the month to 3.2 percent, compared to 4.7 percent a year earlier. The wholesale