Reported 11 months ago
The US labor market added 272,000 nonfarm payroll jobs in May, surpassing economists' expectations of 180,000 new jobs, as reported by the Bureau of Labor Statistics. However, the unemployment rate increased from 3.9% to 4%. The job gains indicate the difficulty the Federal Reserve faces in deciding on interest rate adjustments. Wages increased by 4.1% annually, but inflation concerns persist. Despite a strong employment report, the possibility of rate cuts in September has slightly decreased.
Source: YAHOO