May Jobs Report: Solid Jobs Growth, Wages Slowly Picking Up


June 5, 2015

The latest jobs numbers are out from the federal government. What do they mean for job seekers and employers? Here’s a quick take from Glassdoor’s Chief Economist Dr. Andrew Chamberlain:

Today’s positive report offers reassuring news for job seekers. The U.S. labor market shows tremendous momentum as we move into summer months. All the factors that sparked a weak jobs number in March were all short-term, and are looking more like a sniffle than a lingering cold. With 280,000 new jobs created in May and unemployment essentially unchanged at 5.5 percent, the latest report confirms what we see at Glassdoor—we are still in the strongest job market we’ve seen in a generation.

One figure we’re watching closely is wage growth. Today’s report showed some evidence of wage gains, with average hourly wages up 2.3 percent from a year ago–up from 2.2 percent growth last month. As labor markets continue tightening in the coming months, be on the lookout for a pick up to 2.5-2.8 percent wage growth by the end of 2015.

To speak with Dr. Andrew Chamberlain about today’s jobs report or to discuss labor market trends, contact pr@glassdoor.com. For the latest economics and labor market updates, follow @adchamberlain on Twitter.