Five takeaways on a surprisingly strong May jobs report ...Middle East

The economy added 339,000 jobs in May, once again blowing past analysts’ expectations and showing the strength of the U.S. labor market — even as the unemployment rate made one of its sharpest jumps in months up to 3.7 percent from 3.4 percent in April. The mixed results could be a Rorschach test for the Federal Reserve, which has raised interest rates up to its expected ending point for 2023 at 5.1 percent. That gives the central bank some liberty to see what it wants to see in the economy. Friday’s jobs report from the Labor Department confirmed a slowing trend in wage growth. The decline is bad news for workers but good news for the Fed, whose job it is to keep prices stable a

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Last updated : 02 June 2023 clock 08:24 PM

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Five takeaways on a surprisingly strong May jobs report ...Middle East

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