More good news for the economy in May, as the economy added 223,000 jobs, and the unemployment rate edged down to 3.8 percent. Since 1969, the only other time unemployment has been this low was in April 2000, in the middle of the dot-com bubble.
The economy has now added an average of 191,000 jobs over the past 12 months. In May, retail trade added 31,000 jobs, and employment in health care rose by 29,000. Employment in construction added 25,000 jobs and has risen by 286,000 over the past 12 months.
The beleaguered mining sector added 6,000 jobs in May. Since a recent low point in October 2016, employment in mining has grown by 91,000, with support activities for mining accounting for nearly all of the increase.