The US labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday.

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…

Traders bet the Fed will have to raise rates by December

Jobs report today: Job gains last month were broad-based. Local governments added 55,000 workers, restaurants and bars 48,000, healthcare companies 35,000.