US adds 339,000 jobs in May, surpassing forecasts, as unemployment rate increases slightly to 3.7%
High interest rates, a recent banking crisis and Washington’s fight over the debt ceiling may have shaken the US economy recently, but the US jobs market continues to show signs of strength.
The US Bureau of Labor Statistics (BLS) reported 339,000 jobs were added in May, surpassing forecasts that predicted the increase would be approximately 190,000 jobs and a sign of continued growth from the jobs market despite the Federal Reserve’s continuing efforts to cool the economy. Growth in the labor market has fluctuated over the last few months, dipping down to 165,000 jobs in March and coming back up to 253,000 jobs in April. The number of jobs added is still down compared with this time last year, when 390,000 jobs were added to the economy.
About Author
More Stories
What does Elon Musk want from all this politicking?
Norway to increase minimum age limit on social media to 15 to protect children
Rupert Murdoch’s Dow Jones and New York Post sue AI firm for ‘illegal copying’