Economy
June 11, 2019
Net Job Creation Through May 2019
Written by Peter Wright
The rate of job creation in the U.S. in 2019 is slowing, according to Steel Market Update’s analysis of the latest Bureau of Labor Statistics data.
Net job creation in May was an unexpectedly low result of 75,000. To make matters worse, March was revised down by 36,000 and April was revised down by 39,000. Rising employment and wages are the main contributors to GDP growth because personal consumption accounts for almost 70 percent of GDP. Steel consumption is related to GDP; therefore, this is one of the indicators that help us understand the reality of the steel market.
