June 2015 U.S. employment update and outlook

June 5, 2015
The U.S. labor market rebounded to the strong performance seen near the end of 2014, adding 280,000 jobs in May with unemployment changing little, at 5.5 percent. Education, health, professional and business services, and leisure and hospitality led the growth, and while most other industries continued to expand, mining and logging is still unstable as oil prices have yet to stabilize. Despite somewhat gloomy first-quarter numbers for metrics such as GDP, we expect to see further economic momentum throughout the second half of 2015 and into 2016. Growth in jobs exceeds population increases in large metro areas, so you can also expect the battle for talent to drive up wages in the coming months.
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