The US economy added 172,000 jobs in May, blowing past expectations, according to the government’s closely watched jobs report. The unemployment rate remained flat at 4.3%.
Economists surveyed by Bloomberg had anticipated payroll growth of 88,000 for the month.
April’s jobs report — which itself was a massive beat — was also revised to show an even better 179,000 jobs gained, compared to the 115,000 reported earlier. March’s payroll growth was similarly updated to show 214,000, bringing the first monthly gain above 200,000 since early 2024.
Payroll gains were seen across several sectors — notably not relying just on the healthcare industry, which has been the primary engine of job growth as of late. Leisure and hospitality added 70,000 jobs last month, while local governments grew payrolls by 55,000. Healthcare added about 35,000 positions.
