Reported 11 months ago
In May, the US added 272,000 jobs, surpassing the 180,000 economists' expectation, with the unemployment rate rising to 4.0% from 3.9%. Average hourly earnings also exceeded expectations, increasing by 0.4% month-over-month and 4.1% year-over-year. Sectors like healthcare, government, leisure, hospitality, and professional services saw job growth. This data poses potential concerns for the Federal Reserve, particularly with the unemployment rate increase and labor force participation rate decrease.
Source: YAHOO