U.S. adds 172,000 jobs in May, far surpassing expectations; unemployment steady at 4.3%
By
Jeff Cox
Plain bagel done well. Pleasantly substantive.
Summary
U.S. nonfarm payrolls surged by 172,000 in May, far exceeding the Dow Jones consensus estimate of 80,000. The unemployment rate held steady at 4.3% as expected. The Bureau of Labor Statistics report showed job growth slightly down from the upwardly revised 179,000 in April, but still indicating solid labor market expansion amid a low-hire, low-fire environment.
Key quotes
· 3 pulledNonfarm payrolls jumped a seasonally adjusted 172,000 for the period, down slightly from the upwardly revised 179,000 in April and far above the Dow Jones consensus estimate for 80,000.
The unemployment rate held steady at 4.3%, as expected.
The report came against a background of muted expectations as employers have held their ground in a low-hire, low-fire environment.
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