The U.S. economy gained 175,000 jobs in May, the Labor Department reported on Friday, and there was a dip in the number of those who have given up looking for work. The unemployment rate ticked upwards to 7.6%. Meanwhile, the Society for Human Resource Management predicts a sharp rise in service sector hiring this month and a decrease in hiring in manufacturing. SHRM regularly surveys human resources professionals about their companies’ hiring plans.
“Professional and business services (+57,000), leisure and hospitality (+43,000) and retail trade (+28,000) all enjoyed surges in May,” says acting Secretary of Labor Seth D. Harris. “The increase in the civilian labor force of 420,000 — the highest increase since last October — together with higher consumer confidence, suggests that Americans are increasingly bullish about the nation's economic future.”
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