Nonfarm payroll employment surged by 348,000 in May, about twice as high as expected, while April's figure was revised upward from 2,0000 to 163,0000. Labor markets have added an average of 222,000 jobs per month this year.
Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-06, pp. 11, 06.01.1996.