U.S. Adds More May Jobs Than Expected as Wages Trail Inflation
Updated
Updated · KVAL · Jun 5
U.S. Adds More May Jobs Than Expected as Wages Trail Inflation
3 articles · Updated · KVAL · Jun 5
Summary
May payroll growth beat expectations, signaling stronger-than-forecast hiring in the latest U.S. employment report.
Wage gains still failed to keep pace with inflation, leaving workers' purchasing power under pressure despite the solid job creation.
Kevin Hassett, director of the National Economic Council, spoke after the report as the White House highlighted the stronger labor-market reading.
The split between robust hiring and lagging pay underscores a labor market that remains resilient while household income growth stays strained by prices.