Skip to main content

U.S. Adds 390,000 Jobs in May


The U.S. added 390,000 jobs in May, the Department of Labor said in its monthly report on Friday. The unemployment rate held steady at 3.6 percent.

The department said the leisure and hospitality sector added 84,000 jobs in May but is still 1.3 million jobs below February 2020. Transportation and warehousing saw 47,000 more jobs last month and is above its February 2020 level by 709,000 jobs.

The manufacturing sector added 18,000 jobs, with 7,000 of those in fabricated metal products. Manufacturing is slightly below February 2020 levels, the department said.

The April jobs tally was revised upward to a gain of 436,000 from the previous announcement of 428,000.

The May report indicates that the hot U.S. job market is cooling slightly, and the monthly result keeps the Federal Reserve on track for additional half-percentage-point interest rate increases in June and July, The Wall Street Journal reported. Fed officials still think they can bring down inflation without weakening the job market significantly, The Wall Street Journal stated. 



Industry Pushes Back Against Speed Restrictions

A NOAA Fisheries proposal would restrict boats 35 feet and larger to a 10-knot speed limit along the East Coast to protect right whales from vessel strikes.


Magonis Opens Connecticut Office

The Spain-based, electric-boat builder offers an 18-footer that’s available with motors from Torqeedo and Mag Power.


Bill Seeks to Increase Youth Fishing

The bipartisan Coastal Fishing Program Act of 2022 would ease barriers to accessing the outdoors in underserved communities.


Fall Is in Full Swing

With the autumnal equinox ushering in a new season today, the fall boat-show circuit is in high gear. Here are some recent reports and a look at what’s to come.


Manufacturer Confidence Drops

Still, U.S. builders remain largely optimistic despite ongoing constraints with the supply chain and workforce, as well as yesterday’s interest rate hike.


Defender Adds TEMO Electric Boat Motor

Defender Industries is the official U.S. dealer for the French company’s lightweight, portable electric motors.


Twin Disc Sells Belgium Facility

The transmission manufacturer is still using the facility in a leaseback transaction as it looks to reduce costs.