Market thwarts WSJ projections: Job creation soars, unemployment stays put
According to the Bureau of Labor Statistics report, 172,000 jobs were created in May and the unemployment rate remained at 4.3%.
Workers install a submarine fiber cable
The latest month positive macroeconomic signs. Job creation in May soared, far exceeding market expectations, while the unemployment rate held steady.
According to the latest report from the Bureau of Labor Statistics, nonfarm employment increased by 172,000 jobs in May, something that confirms the upward trend in the world's largest economy.
Analysts at Dow Jones Newswires and The Wall Street Journal pointed to around 80,000 new jobs being created in May, according to AFP.
Primarily, the leisure and hospitality sectors were the two that added the most jobs to the market in May, creating 70,000 in the latest period.
The health sector also offered considerable growth, adding 35,000 positions.
On the other hand, the unemployment rate "remained unchanged," settling at 4.3%. An indicator that has ranged between 4.3% and 4.5% in the last 10 months.
LATEST
