Cool U.S. jobs report helps the Fed run economy hot tombuerkle
U.S. nonfarm employment increased by 75,000 positions in May, fewer than the 185,000 that economists surveyed by Reuters had been expected, the Labor Department’s Bureau of Labor Statistics reported on June 7. Payroll gains for the previous two months were revised downward by a total of 75,000. The unemployment rate was unchanged at 3.6%.
Average hourly earnings increased by 6 cents to $27.83 in May, leaving them 3.1% above the level of a year earlier. That was down from 3.2% in April and represented the lowest year-on-year increase since September 2018.
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