Nonfarm payrolls grew by 217,000 in May. Although the May figure was 20,000 greater than the 12-month average, payrolls in May increased by 65,000 less, on net, than in April, suggesting an unwinding of the severe winter-weather rebound. Gains for the previous month were revised down from 288,000 to 282,000. The May numbers are consistent with continued strengthening of the labor market. Total nonfarm employment in May was 0.1 percent above the prerecession peak (98,000 more jobs compared with January 2008). Private employment now exceeds the prerecession peak by 617,000.
