The unemployment rate was 9.7% in May, down slightly from April. Total nonfarm payroll employment grew by 431,000 in May. However, 411,000 of those jobs were temporary positions working on Census 2010.
In the private sector, manufacturing, temporary help services, and mining added jobs, while construction employment declined.
Despite the small number of private sector jobs added, there are several job market reports indicating positive job growth for the remainder of the year.
For the first time since it launced in February 2009, Indeed.com's Industry Trends Report for May reports year-over-year job posting growth in all of the major industries that are tracked.
What's significant is the double-digit increases in job postings in many industries. For example, Media & Newspaper is up 37%, Hospitality up 49%, and Retail up 53%.
A survey from Dice reports that a majority of employers and recruiters (52%) anticipate hiring more career professionals in the second half of 2010 than they did in the first half of the year. 49% project they will add up to 10 percent more employees compared with the first half of 2010, while 28% plan to increase hiring by 11-20%.
The Society of Human Resources Management (SHRM) reports that June 2010 hiring expectations show a double-digit jump in the number of companies that will hire versus layoff.
The SHRM LINE Report shows that a net of 44.9% of manufacturing companies will add jobs in June as will a net of 50.8% in the service sector. The numbers will mark the eighth straight month that hiring will increase in the manufacturing and service sectors.
The bad news is that the job marketing isn't growing nearly as strongly as was hoped and it's going to take a lot of new jobs to make up the 8 million positions lost during the recession.
The good news is that companies are hiring and forecasts predict continued job market growth.