Employers added 339,000 jobs in May, according to the monthly employment report from the Bureau of Labor Statistics released on Friday. Last month’s job growth showed an acceleration from April’s job gains, which were revised upwardly to 294,000, and it’s a far hotter number than the 190,000 that economists were expecting. The unemployment rate rose to 3.7% from 3.4%. The job gains were broad-based, with some of the largest increases seen in professional and business services, government, health care and leisure and hospitality. However, the May gains remain elevated from pre-pandemic times: There were 163,000 jobs added per month in 2019.

Source: CNN June 02, 2023 14:49 UTC