The Employment Situation—May 2023

The unemployment rate in May increased by 0.3 percentage points over April to 3.7 percent. The number of unemployed persons rose by 440,000 to 6.1 million but the number employed decreased by 310,000. The labor force participation rate held at 62.6 percent in May.—bls.gov

Answer the following questions to check your understanding of the story.

How did the labor force change between April and May 2023?

a) The labor force increased by 130,000.

b) The labor force decreased by 310,000.

c) The labor force decreased by 130,000.

d) The labor force remained constant.

How did the employment-to-population ratio change in May 2023?

The employment-to-population ratio ____________.

a) decreased because employment decreased by more than the working-age population decreased

b) decreased because employment decreased and the working-age-population increased

c) didn’t change because the labor force participation rate didn’t change

d) increased because employment decreased by less than the working-age population decreased

The Employment Situation—May 2023

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