The strength of the U.S. labor market has flummoxed professional economic forecasters for nearly two years.
Friday that the U.S. economy added 339,000 workers to payrolls in May, far more than the 190,000 Wall Street had predicted.
This is the 14th consecutive month in which the jobs reports has come in above the forecast. It is the 20th month out of the last 21 months in which the labor market has beat expectations, making this one of the longest losing streaks for forecasters. The unemployment rate came in worse than expected, rising to 3.7 percent. Forecasters had predicted a rise to 3.5 percent from 3.4 percent last month. The range was tight, between 3.4 percent and 3.5 percent.
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