Leisure and hospitality led hiring, while financial activities shed jobs for the 12th consecutive month

May showed strong signs of growth with 172,000 jobs added to the economy. But economists say a growing long-term unemployment rate suggests a more complicated picture.

U.S. employers added jobs for the third month in a row in May, while the unemployment rate held steady at 4.3%. But wage gains softened and likely failed to keep pace with rising…