U.S. Adds 172,000 May Jobs as Unemployment Holds at 4.3%
Updated
Updated · eciks.org · Jun 21
U.S. Adds 172,000 May Jobs as Unemployment Holds at 4.3%
3 articles · Updated · eciks.org · Jun 21
Summary
172,000 jobs were added in May, far above forecasts of 80,000 to 88,000, while the unemployment rate stayed at 4.3%.
70,000 of those gains came from leisure and hospitality, with local government adding 55,000 and health care also expanding, pushing the share of industries adding jobs to 54.4%—a six-month high.
243,000 jobs were added to prior estimates as April payrolls were revised up by 64,000 to 179,000 and March by 29,000 to 214,000, lifting the March-May average to nearly 190,000 a month.
0.3% monthly wage growth in May pointed to softer pay pressures, with analysts saying hiring remains resilient but underlying slack persists through frozen hiring rates and longer jobless spells.
The report suggests the economy is still absorbing headwinds from high oil prices, Middle East tensions and persistent inflation, though doubts remain over whether this pace of job growth can last.