U.S. payrolls rose by 172,000 in May, much more than expected; unemployment at 4.3%
Leisure and hospitality led gains with 70,000 jobs as wage growth held at 0.3%, reinforcing expectations that the Federal Reserve will keep rates steady.
- On Friday, the Bureau of Labor Statistics reported U.S. employers added 172,000 nonfarm payroll jobs in May, with the unemployment rate holding steady at 4.3%. March and April payrolls were revised upward by a combined 93,000 jobs.
- Leisure and hospitality led hiring with 70,000 new positions, while local government added 55,000 and healthcare added 35,000 jobs. These sector gains suggest hiring is broadening beyond healthcare compared to earlier months.
- Nearly 2 million Americans remained unemployed for more than six months in May, up 524,000 from the previous year. Annual wage growth slowed to 3.4%, lagging inflation that runs near 3.8% annually.
- Financial markets reacted sharply, with traders increasing bets on Federal Reserve rate hikes by year-end to roughly 70%. Policymakers signaled that rate hikes remain on the table if inflation persists, dimming expectations for cuts this year.
- External pressures from the Iran war continue to complicate the economic outlook, with energy prices remaining elevated. A 'higher-for-longer' interest rate environment may persist if inflation fails to moderate toward the Federal Reserve's 2% target.
307 Articles
307 Articles
Why hiring surged in May despite strain from the Iran war
There was surprising strength in the latest U.S. jobs report. Employers added 172,000 jobs in May, the third straight month of job gains. Overall, the labor market appears strong despite concerns about the Iran war, rising prices and artificial intelligence. Amna Nawaz speaks with Diane Swonk, chief economist at KPMG, a multinational accounting and advisory firm, for more analysis.
Leisure & Hospitality Boom Leads 172K Job Surge – May Jobs Breakdown
The U.S. labor market posted stronger-than-expected gains in May, with employers adding 172,000 jobs and the unemployment rate holding at 4.3%, according to figures from the U.S. Department of Labor. The total job gains were nearly double what forecasters had projected. Revisions to prior months also showed a stronger hiring picture than initially reported. March payrolls were revised upward by 29,000 to 214,000, and April was revised up by 64,0…
Most new jobs are going to women — and 1 in 3 men have given up
President Donald Trump celebrated the jobs report published on Friday by the U.S. Bureau of Labor Statistics, which shows that American employers added jobs for the third consecutive month.The report, which Trump called "great," says the U.S. economy added 172,000 jobs last month; the unemployment rate remained unchanged at 4.3%; the number of unemployed people, 7.3 million, "changed little over the month"; and the labor force participation rate…
Channel News Asia
Strong US job growth beats expectations in May, firming recent gains
WASHINGTON: US job growth surged past expectations in May with the unemployment rate remaining steady, as the labour market in the world's largest economy showed signs of firming after months of turbulence.Wall Street stocks traded lower on the news, with investors expecting a strong labou
Coverage Details
Bias Distribution
- 44% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
