{"id":429,"date":"2023-04-12T11:49:19","date_gmt":"2023-04-12T11:49:19","guid":{"rendered":"https:\/\/data.cincinnatichamber.com\/?page_id=429"},"modified":"2023-06-07T19:39:11","modified_gmt":"2023-06-07T19:39:11","slug":"jobs-update","status":"publish","type":"page","link":"https:\/\/data.cincinnatichamber.com\/es\/jobs-update\/","title":{"rendered":"Jobs Update"},"content":{"rendered":"

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LABOR MARKET UPDATE<\/h1>\n

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Updated June 7, 2023<\/p>\n

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Last week, the Bureau of Labor Statistics (BLS) released the latest jobs report. According to the report, the number of jobs in the United States increased by 339,000 in May, indicating an increase over the already strong 294,000 jobs added in April. This surge in job numbers reflects robust and accelerated job growth, surpassing the pace witnessed in March. <\/p>\n

Locally, the most recent jobs report is from April and shows the Cincinnati region lost 200 jobs. This comes after three straight months of strong job growth in our region. It is possible that the small job losses in April can be attributed to the fact that the Cincinnati region has an even lower unemployment rate than the nation as a whole, which already sits at a multi-decade low. Our local unemployment rate now sits at 2.8 percent, a value that would have been unimaginable a few years ago.<\/p>\n

The next BLS release will be next week, which will include the Consumer Price Index (CPI) for the month of May. The year-over-year CPI has been falling for ten straight months, after peaking at 9.1 percent annualized. The Federal Reserve will be watching the report closely as they decide whether to keep raising interest rates. Look for more information about the CPI report in next week\u2019s newsletter.<\/span><\/p>\n

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EMPLOYMENT CHANGE BY MONTH – NATIONAL<\/h2>\n

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