The world's largest economy added 272,000 jobs last month, up from a revised 165,000 in April, the Labor Department said.
U.S. employment growth exceeded forecasts in May, but unemployment also rose, underscoring the resilience of the labour market, according to government data. This is happening as politicians seek to gradually cool the economy.
The world's largest economy added 272,000 jobs last month, up from a revised 165,000 in April, the Labor Department said.
That was significantly more than the 185,000 increase that analysts had forecast, according to Briefing.com.
Meanwhile, the unemployment rate rose from 3.9 per cent to 4.0 per cent, the ministry said. Average hourly earnings rose 0.4% month-on-month and 4.1% from a year earlier. A strong labour market allowed consumers to continue spending even amid rising interest rates, boosting the U.S. economy. AFP reported.
As households deplete their savings and borrowing becomes more expensive for individuals and businesses, the situation may change. Fed policymakers are watching for signs of a cooling economy, and analysts expect to take action if growth slows earlier than expected. | BGNES
