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NewsFlash: June 1, 2007

Payrolls Bounce Back in May

Today’s release of job numbers from the Bureau of Labor Statistics shows May job growth exceeded expectations, up 157,000, almost twice that of April’s 80,000 gains.  In today’s EPI  Jobs Picture, senior economist Jared Bernstein says 154,000 private-sector service jobs were added in May, with health care jobs accounting for 28% of private sector job gains in 2007.  In contrast to those solid gains, manufacturing jobs fell by 164,000 over the past year, with losses concentrated in autos and car parts, which were down by 9,900 jobs in May alone.

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