The U.S. added a stronger-than-expected 390,000 new jobs in May, signaling the labor market and broader economy are still going strong. The increase in employment was the smallest in 13 months, but economists said employment growth was bound to slow.
The numbers: The U.S. added a stronger-than-expected 390,000 new jobs in May, signaling the labor market and broader economy are still going strong despite some fraying around the edges.
The unemployment rate was unchanged at 3.6%, the government said Friday, and remained just a tick above the pre-pandemic low. Yet if the jobs market cooled off too much, it could dampen consumer spending and add to growing worries about a recession. Economic growth is all but certain to decelerate owing to higher interest rates.
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