U.S. posts strong job growth in May

Consumer spending helped contribute to the nation’s economic growth.

US employers added 272,000 jobs in May, a sign of economic health and confidence in the economy.

Consumer spending on travel, entertainment and services contributed to the steady growth of the economy.


The big picture: Unemployment rate slightly increased to 4 percent in May from 3.9 percent, ending a 27-month streak of unemployment below 4 percent.

  • Hourly wages increased by 4.1% from a year ago, potentially contributing to inflation.
  • The Federal Reserve is monitoring inflation closely before considering any cuts to their benchmark rate.
  • Job growth was particularly strong in healthcare, restaurants, hotels and entertainment sectors.
  • Government jobs added 43,000 positions in May.
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