May Jobs Report Surprises Economists with Strong Employment Growth
TL;DR Summary
The US labor market added 339,000 jobs in May, surpassing Wall Street's estimate of 195,000 jobs. This marks the 14th consecutive month that job creation has exceeded expectations. The unemployment rate rose to 3.7%, and hourly wages rose 4.3% over last year, compared to 4.4% in April. Some economists were shocked by the jobs numbers, while others suggested that the Federal Reserve may still announce a pause in its interest rate hike campaign later this month.
- May jobs report shocks economists: 'The strangest employment report for some time' Yahoo Finance
- Payrolls rose 339,000 in May, much better than expected in resilient labor market CNBC
- BREAKING: U.S. employers added 339000 jobs in May MSNBC
- Labor Market Is Not Buying Into Talk of a Recession Bloomberg
- Opinion | Could the Job Market Be Getting Better? The Wall Street Journal
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