U.S. Economy Adds 339,000 Jobs In May

The US labor market isn’t ready to slow down just yet, Alicia Wallace reported for CNN.

Photo Insert: The job gains were far stronger than expected, continuing a streak of hiring that has surprised economists.

Employers added 339,000 jobs in May, according to the monthly employment report from the Bureau of Labor Statistics released on Friday. That’s a much hotter number than the 190,000 that economists were expecting.

The unemployment rate rose to 3.7% from 3.4%. Economists were projecting it to climb to 3.5%, according to Refinitiv.

The job gains were far stronger than expected, continuing a streak of hiring that has surprised economists. Analysts have expected hiring to slow as the US central bank raises interest rates to try to rein in rising prices, BBC News also reported.

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