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Break down of May jobs report, plus insights on finding summer workers

Overall, hourly jobs are up 174% compared to pre-pandemic norms, seeing a 1% month-over-month decline, and a 32% year-over-year growth. Google searches for hourly jobs are up 9% from this time last year.

While US job growth cooled slightly last month, the numbers remain high, according to the latest Labor Department jobs report. However, May was the first month in over a year to record less than 400,000 new jobs added. This could be a signal that the economy is tapping its brakes somewhat. Specific findings in the report include:

  • 390,000 new jobs were added in May

  • Unemployment held steady from the previous month, at 3.6%

  • 330,000 people joined/rejoined the workforce in May

  • The labor force participation rate (those working or looking for work) move up slightly to 62.3%

  • Hourly wages were up 0.3% for the month (and 5.2% for the year)

  • Notable job gains occurred in both the Hotel & Hospitality and Warehouse & Production sectors

The May report also showed that the number of Retail jobs fell considerably last month, shedding 61,000 in May. This could be because, with summer approaching, consumers cooped up for two years during the pandemic are spending their money on trips and entertainment rather than clothing and home goods. According to a US Chamber of Commerce report, the Retail industry currently has the highest quit rate among employees, at 5.7%.

In related news, the hiring market for the tech and startup segments continues to slow as companies keep an eye on inflation and the economy. Tesla CEO Elon Musk, for example, warned of a 10% staff reduction because of a “super bad feeling” about the near-term prospects.

However, there still remain two open jobs for everyone looking, making it difficult for businesses to hire hourly summer workers. As Snagajob CEO Mathieu Stevenson noted in a U.S. News & World Report article this week, “Broadly, we are starting to see a bifurcation, with white collar cooling off somewhat but the more blue-collar end of the spectrum not the case.”

For a more detailed discussion of the impact of today’s job market on summer hiring, read this Summer Hourly Hiring 2022 report. 

Jobs

All industry data is from 3/2/20-6/7/22

Here are the latest overall job numbers:

Overall hourly jobs are up 174% compared to pre-pandemic norms, seeing a 1% month-over-month decline, and a 32% year-over-year growth. Google searches for hourly jobs are up 9% from this time last year.

Here are the latest job numbers by industry:

Food & Restaurant jobs are up 41% compared to pre-pandemic norms, seeing a 1% month-over-month drop, and a 4% year-over-year decline.

Hotel & Hospitality jobs are up 35% compared to pre-pandemic norms, seeing a 13% month-over-month drop, and a 23% year-over-year decline.

Healthcare jobs are up 125% compared to pre-pandemic norms, seeing a 7% month-over-month gain, and a 22% year-over-year growth.

Retail jobs are up 41% compared to pre-pandemic norms, seeing a 7% month-over-month decline, and an 8% year-over-year gain.

Warehouse & Production jobs are up 598% compared to pre-pandemic norms, seeing an 8% month-over-month decline, and a 48% year-over-year gain.

Workers

Google searches for hourly jobs are up 9% year-over-year.

The bottom line

We’ll continue to be your best resource for hourly job market insights as we collectively navigate towards our new normal and beyond.

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Mathieu Stevenson |
Mathieu Stevenson is the CEO of Snagajob. His first hourly job was as a lifeguard.