State Of The Economy

May payroll employment increases (+175,000); jobless rate essentially unchanged (7.6%) — Total nonfarm payroll employment increased by 175,000 in May, and the unemployment rate was essentially unchanged at 7.6 percent. Employment rose in professional and business services, food services and drinking places, and retail trade.

Productivity grows 0.5% in 1st quarter 2013 (annual rate); unit labor costs fall 4.3% — Productivity increased 0.5 percent in the nonfarm business sector in the first quarter of 2013; unit labor costs decreased 4.3 percent (seasonally adjusted annual rates). In manufacturing, productivity increased 3.5 percent and unit labor costs decreased 10.0 percent.

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