The US economy added 172,000 nonfarm jobs in May, roughly double what economists had predicted. The unemployment rate held steady at 4.3%, according to the Bureau of Labor Statistics report released on June 5.
Wall Street had been bracing for something closer to 85,000 new jobs. Bitcoin slid to approximately $61,900-$62,000 in the wake of the release.
Where the jobs landed
Leisure and hospitality, local government, and healthcare drove the bulk of the gains. Financial activities, meanwhile, moved in the opposite direction, shedding jobs during the month.
March and April payroll figures were revised upward by a combined 93,000 jobs.
