In May, the U.S. economy added 139,000 jobs, surpassing expectations of 130,000, while the unemployment rate held steady at 4.2 percent. Wage growth continued to outpace inflation, with average hourly earnings increasing by 0.4 percent and 3.9 percent over the past year. The leisure and hospitality sector led job growth, contributing 48,000 jobs. Labor force participation saw a slight drop to 62.4 percent, and federal employment declined. April's job creation numbers were adjusted downward, indicating a slightly softer employment growth than initially reported.
The U.S. economy added 139,000 jobs in May, slightly beating expectations and maintaining an unemployment rate of 4.2 percent over the past year.
Wage growth has outpaced inflation, with average hourly earnings rising by 0.4 percent this month and 3.9 percent over the last year.
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