May closed with more jobs than expected, steady unemployment and rising wages
Last month, the world's largest economy generated 139,000 jobs, down slightly from 147,000 in April, according to downwardly revised figures, the Labor Department said.
A worker takes action at a construction site
The United States created more jobs than analysts expected in May even as there are signs of less hiring, according to official data released Friday, showing the labor market's resilience to the impact of the Donald Trump-driven trade war.
Last month, the world's largest economy generated 139,000 jobs, slightly down from 147,000 in April, according to downwardly revised figures, the Labor Department said.
The unemployment rate held at 4.2%, while wages rose more than expected, 0.4%.
Wall Street opens higher, boosted by U.S. employment figures
In early trading, the Dow Jones gained 0.85%, the tech-heavy Nasdaq was up 1.18% and the broader S&P 500 index added 0.92%.
The headline numbers indicate that the U.S. job market is relatively healthy despite shocks to the financial sector, supply chains and consumer sentiment in a year in which President Trump announced a battery of tariffs.
Although Trump announced in April the most far-reaching surcharges since he returned to power in January, 10% on most of his trade partners and above for a dozen economies, experts estimate that the effects are slow to trickle down.
This is partly due to Trump's back-and-forth with imposing tariffs. For example, April's 10% tariffs. were quickly postponed until July, giving room for negotiations.
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