U.S. Employers Added Higher-Than-Expected 172,000 Jobs in May
The unemployment rate remained stuck, however.
American employers added 172,000 jobs in May, blowing past economists’ expectations and signaling continued labor-market strength despite concerns about inflation, global instability, and interest-rate policy. The unemployment rate remained unchanged at 4.3 percent, according to the Labor Department’s monthly Employment Situation report released Friday.
The May gain was more than double many forecasts, which had projected payroll growth of roughly 80,000 to 90,000 jobs. The report also included upward revisions to March and April payroll figures, adding a combined 93,000 jobs to previously reported totals.
Hiring was strongest in leisure and hospitality (about 70,000 jobs in May), local government (55,000), and health care (35,000). Finance lost roughly 22,000 jobs.
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