US Economy Generates 339,000 Jobs in May, Unemployment Rate Rises to 3.7% –

( – The US economy generated 339,000 non-agricultural jobs in May, according to the Department of Labor (DoL), a number well above market expectations, like Jefferies, which expected 230,000.

“Job gains were seen in professional and business services, administration, healthcare, construction, transportation and storage, and social assistance,” the DoL said.

The unemployment rate increased by 0.3 points to 3.7% of the labor force, the labor force participation rate remained stable at 62.6%, and the average hourly income increased at an annual rate of 4.3%.

In addition, job creations for the two previous months were revised sharply upwards, from 165,000 to 217,000 for March and from 253,000 to 294,000 for April, ie a total revision balance of +93,000 for these two months.

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2023-06-02 12:39:00

#job #creations #expectations

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