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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Private sector adds at least 55,000 jobs in May; 10,000 fewer new jobless claims filed last week

The private sector added at least 55,000 jobs in May, offering an encouraging preview for tomorrow's government employment report. Also, the government said the number of new jobless claims filed last week dropped by 10,000. Both sets of data come from reports released moments ago.

ADP employer services also revised its April new-jobs estimate upward to 65,000 jobs, nearly double the report's original April estimate. With the May numbers, ADP reports four consecutive monthly gains of 39,000 jobs in the private sector. ADP gets its information from businesses.

The ADP report said the service sector added 78,000 jobs, the manufacturing sector added 15,000 jobs, but the goods-producing sector shed 23,000 jobs in May. Construction shed 41,000 jobs in May.

On unemployment, the government said the number of new jobless claims filed last week dropped 10,000 from the previous week to 453,000. The number of continuing claims, however, rose from 4.6 million to 4.63 million last week.

The four-week moving average of new claims, which smooths out volatility, rose by 1,750 to 459,000.

Though the drop in new claims is encouraging, the number of new weekly claims filed remains stubbornly stuck in the mid-400,000s. This is bad for the economy, because it's hard for meaningful new job growth to have an impact until the weekly loss rate of jobs falls down into the low-400,000s or upper-300,000s.

On Friday, the Labor Department releases the official May unemployment rate, which is expected to remain around 9.9 percent. However, forecasters are expecting that as many as 500,000 new jobs were added to the economy last month.

By Frank Ahrens  |  June 3, 2010; 8:55 AM ET
Categories:  Unemployment  
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Comments

And more jobs are coming as Obama hires people for $5.00 hr to clean up the oil slick.

Posted by: 45upnorth | June 3, 2010 10:28 AM | Report abuse

Don't forget that despite the recession, Congress still lets in over 125,000 working-age immigrants each month. (Can't upset La Raza or the US Chamber of Commerce!)

So we're still losing net jobs...

Posted by: pmendez | June 3, 2010 10:50 AM | Report abuse

Once again the Jurassic media keeps the "so what" to the end of the story buried in meaningless statistics that the Obama Post recieved in their talking points memo from party central in the White House. Claims for unemployment will go UP! on the 4 week running average 1,750. National Debt is just announced to be the highest ever, $42,000 debt for evey man woman, and child in the US. Korea and Iraq laugh at our diplomacy, Little Barry can't "fish or cut bait" in the Gulf's new Katrina, and the only way the socialists can figure out how to raise cash, other than a new tax, is to sell Government positions to political troublemakers.

Posted by: nickleader | June 3, 2010 11:13 AM | Report abuse

I was laid off about 6 months ago. And it was definitely a tough time in my life. I hadn't been in the job market in many years - and now I found my self in a very competitive one.

I one piece of advice is to have your resume professionally done. It is what gets you in the door with hiring managers. There are a number of services out there. They range in prices from $40 to $150. I went with a service that charged $49 and was very happy - so you don't have to spend and arm and leg to get this done. I do believe it was worth it to me. I am employed now and quite relieved! I wish the best for all others job hunting out there.

The service I used was ResumeSolutionsPro.com.

Best of luck you you all!

Posted by: johngolf | June 3, 2010 11:30 AM | Report abuse

Thank God Pres. Obama and Democrats are in control!
Per the Party of No's record during the past year, Republicans wouldn't have done anything to stimulate the economy by helping the middle class and small businesses suffering during Bush's Great Recession.
Via their Congressional votes, Republicans would have supported more DEregulation and more taxpayer funded Corporate Welfare!

If you care about your life and your money - it's best to vote Democratic!

Posted by: angie12106 | June 3, 2010 11:39 AM | Report abuse

55,000 jobs is nothing when considering the millions unemployed. Lets have a few more illegals dragging down what money we have to help our citizens. What a screwed up President we have !!!!!

Posted by: richard36 | June 3, 2010 11:40 AM | Report abuse

At this rate the private sector will take 181 months [15 years] to create the 10 million jobs that have been lost in the past 2 years.

Wages ... let's forget about talking that one. The private sector is toast -- the only real option is Government spending and take over of the private sector by the Government.

Real-Estate bubble came with a huge cost and price tag for sure on the entire economy especially the unemployed amongst us ... anybody ready to sing the great benefits of the "Real-Estate Bubble" ????

Posted by: free_np | June 3, 2010 12:12 PM | Report abuse

@nickleader...so, i guess the "so-what" news media was in full force during the heydays of budget debt explosion during GWB administration. your level of hypocrisy is alarming.

Posted by: dc1020008 | June 3, 2010 12:40 PM | Report abuse

I love the spin on this. The article makes it sound like things are peachy, however, a decrease of 10,000 first time unemployed simply means that 459,000 filed for unemployment for the first time instead of 469,000.

So even though 55,000 jobs were created, it's apparent that about 510,000 were UN-Created.

Posted by: Hawaiian_Gecko | June 3, 2010 1:15 PM | Report abuse

the word is already out...
unemployment can't hit double digits...
per obama...
meanwhile America suffers...
thanks, obama...

Posted by: DwightCollins | June 3, 2010 1:17 PM | Report abuse

"Thank God Pres. Obama and Democrats are in control!
Per the Party of No's record during the past year, Republicans wouldn't have done anything to stimulate the economy by helping the middle class and small businesses suffering during Bush's Great Recession.
Via their Congressional votes, Republicans would have supported more DEregulation and more taxpayer funded Corporate Welfare!
If you care about your life and your money - it's best to vote Democratic!
Posted by: angie12106 | June 3, 2010 11:39 AM | Report abuse"

who are you kidding...
the economy started to tank the day the dems took over congress...
thats when the crisis was created...
all to get control of the whitehouse...
well...
and angie, stop lying for them...
nobody believes you or them...
America can fix that this year and in 2012...

Posted by: DwightCollins | June 3, 2010 1:24 PM | Report abuse

I can't help but notice that the 600,000 temp workers hired last month to conduct the census was not mentioned to reflect the half million was mostly government jobs, and temporary ones at that.

Still, the number of new people entering the job market each month requires an average between 150,000 and 200,000 new jobs just to accommodate them. But May and June are also months when millions of new graduates hit the street, so those numbers of new jobs are especially low this time of year.

Posted by: infuse | June 3, 2010 2:09 PM | Report abuse

Thank God this President does what he believes is right. Before, everyone were critical that there weren't any jobs. Now the economy is coming around. Slowly but it is coming around. Yet this is still not good enough to give the President the credit he deserves. A $5 dollars job is better that nothing. This is where this country would have been if the President did not act as quickly and prevented another Great Depression. Maybe he should have let the country tanked. At least the criticism would have been justifiably

Posted by: minnie2 | June 3, 2010 4:29 PM | Report abuse

Excuse me for pointing out the obvious -- the government released figures are "adjusted". The unadjusted U6 model has unemployment *increasing* to 17.3%, PRECISELY the same as it was in December 2009. It rose from 17.1% in February to 17.3% in May. Even worse, the real unemployment rate, the SGS figure, has unemployment increasing last month from 22% to 23%.

http://www.examiner.com/x-38904-Phoenix-Small-Business-Management-Examiner~y2010m5d7-Real-unemployment-statistics-U3-99U6-171SGS-22?cid%3Dchannel-rss-Business_and_Finance

Posted by: mibrooks27 | June 3, 2010 4:40 PM | Report abuse

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