US Adds 172,000 Jobs in May; Unemployment Steady at 4.3%
7 verified6 unconfirmed
U.S. employers added 172,000 jobs in May, and the unemployment rate held steady at 4.3%, according to a Labor Department report released Friday. Job gains for March and April were also revised upward. The leisure and hospitality sector led hiring with 70,000 new positions, including 48,000 jobs in restaurants and bars. Employment also rose in healthcare and local government. The report shows the labor market has strengthened after a period of slower growth earlier this year. The Federal Reserve, under new Chair Kevin Warsh, faces continued pressure from the White House to cut interest rates, but economists say the strong jobs data makes a rate cut unlikely at the central bank’s upcoming meeting in mid-June.
What’s verified
U.S. employers added 172,000 jobs in May.
The unemployment rate remained at 4.3%.
Job gains for March and April were revised upward.
The leisure and hospitality sector added 70,000 jobs in May, including 48,000 in restaurants and bars.
Employment rose in healthcare and local government.
The Federal Reserve is under pressure from the White House to cut interest rates, but a rate cut is considered unlikely at the next meeting in mid-June.
Kevin Warsh is the current chair of the Federal Reserve.
Not yet confirmed
One source reported that job figures for March and April were revised up by 29,000 and 64,000 respectively, while another source did not provide specific numbers.
The exact number of healthcare jobs added in May was reported as 35,000 in a single source.
Only one source reported that the financial sector cut 22,000 jobs in May.
Only one source reported that average wages rose 3.4% year-over-year in May.
Only one source reported that ADP data showed private employers added 122,000 jobs in May.
It is unclear how the conflict in the Middle East is affecting the economy, as one source mentioned it while the other did not.
Key figures
Kevin Warsh, Federal Reserve Chair
President Donald Trump
Scott Bessent, U.S. Treasury Secretary (mentioned in one source)
Dr. Nela Richardson, ADP Chief Economist (mentioned in one source)
Sources: The Guardian, NPR
