The U.S. economy added far more jobs than expected in May, even as the share of Americans working or looking for work remained unchanged, according to federal data published Friday, while recent reports indicated a stable job market despite a steady decline in total employment.
Recent data pointed to a stable job market, even as total employment declined.
The U.S. added 172,000 nonfarm jobs in May and the unemployment rate remained 4.3%, the Bureau of Labor Statistics reported, far surpassing consensus analyst estimates of 105,000 new jobs, according to FactSet.
The labor participation rate, or the percentage of Americans working or looking for work, settled at 61.8%, matching projections and the lowest rate since December 2021.
This is a developing story.
