Mixed Picture on Unemployment, Jobs

May 31, 2012 9:37am

Three new reports on jobs this morning show no real improvement in the labor market.

The Labor Department says unemployment claims were up 10,000 last week to 383,000 – the largest number in more than a month. Applications had leveled off at about 370,000 for four weeks. That decline had suggested that hiring might have picked up in May.

A report by the payroll processing firm ADP finds private employers added 133,000 jobs this month.  That’s an increase compared to April’s 113,000 new hires,  but it still falls shy of the gains made earlier this year.

The third report looks at layoffs.  Jobs firm Challenger Gray and Christmas says in May U.S. employers announced plans to cut nearly 62,000 workers from their payrolls, the most since last September.  Some 27,000 planned job cuts came from one large company: Hewlett Packard.

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