US Employers Added 339,000 Jobs in May as Labor Market Stays Durable


federal reserve economy(Worthy News) – The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of strength in an economy that the Federal Reserve is desperately trying to cool.

Friday’s report from the government showed that the unemployment rate rose to 3.7%, from a five-decade low of 3.4% in April.

The stronger hiring demonstrates the job market’s resilience after more than a year of rapid interest rate increases by the Fed. Many industries, from construction to restaurants to health care, are still adding jobs to keep up with consumer demand and restore their workforces to pre-pandemic levels. [ Source: VOA (Read More…) ]

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