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Figures show unexpected resiliency of job market as officials try to tamp down 3.4% inflationThe US economy added 272,000 jobs in May, a sign the labor market continued strong amid high interest rates, the Bureau of Labor Statistics announced on Friday.The number of May jobs was far higher than the 190,000 economists had expected and topped April’s gains, when a revised 165,000 jobs were added to the economy. The report offered a mixed view of the jobs market. The unemployment rate rose to 4% for the first time since January 2022, up from 3.9% in April. Continue reading…
Figures show unexpected resiliency of job market as officials try to tamp down 3.4% inflation
The US economy added 272,000 jobs in May, a sign the labor market continued strong amid high interest rates, the Bureau of Labor Statistics announced on Friday.
The number of May jobs was far higher than the 190,000 economists had expected and topped April’s gains, when a revised 165,000 jobs were added to the economy. The report offered a mixed view of the jobs market. The unemployment rate rose to 4% for the first time since January 2022, up from 3.9% in April.