US Employers Add a Stunning 339,000 Jobs in May
The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of strength in an economy that the Federal Reserve is desperately trying to cool.
The unemployment rate rose to 3.7%, from a five-decade low of 3.4% in April.
The stronger hiring demonstrates the job market's resilience after more than a year of rapid interest rate increases by the Fed. Many industries, from construction to restaurants to health care, are still adding jobs to keep up with consumer demand and restore their...