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The U.S. labor market remained hot in May as the hiring momentum continued heading into the summer, new government data released on June 5 show.
The economy added 172,000 new jobs last month, from the upwardly revised 179,000 positions in April, according to the Bureau of Labor Statistics.
Economists had penciled in a reading of 85,000.
The unemployment rate held steady at 4.3 percent—in line with the consensus forecast.
May’s nonfarm payrolls report extends the string of solid indicators highlighting the labor market’s strength following the volatility that kicked off the year.
“AI may eventually kill off jobs, but that time is not now. It’s also very difficult to remain anchored to a stagflation narrative when growth and employment are rising,” Jamie Cox, managing partner for Harris Financial Group, said in a note emailed to The Epoch Times….
The economy added 172,000 new jobs last month, from the upwardly revised 179,000 positions in April, according to the Bureau of Labor Statistics.
Economists had penciled in a reading of 85,000.
The unemployment rate held steady at 4.3 percent—in line with the consensus forecast.
May’s nonfarm payrolls report extends the string of solid indicators highlighting the labor market’s strength following the volatility that kicked off the year.
“AI may eventually kill off jobs, but that time is not now. It’s also very difficult to remain anchored to a stagflation narrative when growth and employment are rising,” Jamie Cox, managing partner for Harris Financial Group, said in a note emailed to The Epoch Times….
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