TrimTabs Says 135K Jobs Added in May
The nation's employers added 135,000 jobs added across the country in May while wages and salaries increased 1.9 percent, according to estimates by California-based investment research firm TrimTabs.
"Employment growth is stuck in low gear," said David Santschi, CEO of TrimTabs. "The economy has added an average of 121,000 jobs per month this year, which by itself is not enough to reduce unemployment."
The TrimTabs report comes several days in advance of the federal government's official job-creation estimates for May and relies on a different methodology. While the U.S. Bureau of Labor Statistics (BLS) relies on employer and household surveys, TrimTabs uses data from daily income tax receipts to the U.S. Treasury.
Santschi said health insurance costs and uncertainty over federal fiscal policy are discouraging hiring and investment.
BLS will release its monthly employment report Friday morning.
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