UNITED STATES — The US added 339,000 jobs in May, far exceeding economist's expectations, according to the latest data from the Labor Department.
Accompanying the growth in jobs was a 4.3% YoY increase in workers' pay, with jobs spread across professional services, government, healthcare, construction, and transportation.
These numbers indicate a resilient economy during a period of rising interest rates and inflation.
The US unemployment rate rose slightly from 3.4% to 3.7%, with self-employed workers seeking employment in the regular workforce causing the disparity.
Democrats and Republicans interpreted the report from opposing standpoints. The Federal Reserve has yet to comment on how the jobs numbers will affect its policies in regards to the economy.
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