The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

In May, the U.S. employment market added 431,000 positions; up from the 290,000 added in April, while the unemployment rate fell from 9.9 to 9.7 percent. Included in the positions added, however, are 411,000 temporary census jobs. The private sector in total gained 41,000 positions, down from 218,000 added in April.

Across the spectrum, seasonally adjusted changes were minimal, without significant movements in any of the industries reported aside from a loss of 35,000 construction jobs and a gain of 31,000 temporary help services positions. Manufacturing also added 29,000 jobs, a small increase for the sector as a whole. Yet, after being pummeled since before the recession began, it is an impressive show of strength.

The unemployment rate for management, professional and related occupations remained unchanged at 4.5 percent in May. Unemployment in the sector has, for as long as records have been kept, always risen between April and May. In large part this is due to college graduates, without jobs, being added to the unemployment rolls. The lack of movement in May could indicate that the professional sector is beginning to absorb the unemployed at a greater rate.

May’s numbers are generally being received unfavorably today, considering that the increases in private sector employment did not meet expectations. Yet, there is reason to view these numbers as not being so grim. While the rate of jobs added to the private sector decreased in May, it’s only one month after nearly a year of decreased job losses and is the fifth straight month of job gains. Many economic indicators continue to improve including consumer confidence, consumer spending, productivity, GDP growth and others. Though May’s weak growth is somewhat worrisome, it runs contrary to both the trends and underlying economic indicators.