Job Creation Slows Amid Big Cuts in Manufacturing

Group 1 - U.S. job creation is showing signs of slowing, with private sector adding 152,000 jobs in May, down from 188,000 in April [1] - The manufacturing sector experienced a significant decline, losing 20,000 jobs in May, while leisure and hospitality added only 12,000 jobs [1] - Annual pay growth remains at 5%, with year-over-year pay increases for job changers falling for the second consecutive month, although month-over-month pay for this group rose by 7.8% [1] Group 2 - The Bureau of Labor Statistics reported a 4.8% decrease in job openings in April, with 8.1 million openings, the lowest in over three years [2] - The largest declines in job openings were in healthcare and social assistance (204,000) and state and local government education (59,000) [2] - There was a slight increase of 50,000 job openings in private educational services, aligning with ADP's figures showing 46,000 new jobs in education/health services [2] Group 3 - The Conference Board Consumer Confidence Index indicated an improvement in Americans' views of labor market conditions, with fewer respondents stating jobs were "hard to get" [3] - There was a small drop in the number of respondents who said jobs were "plentiful," but fewer consumers expected a deterioration in future business conditions, job availability, and income [3]