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U.S. adds 172,000 jobs in May; unemployment rate holds at 4.3%

financeJun 5, 202621471

U.S. employers added 172,000 nonfarm payroll jobs in May, topping consensus forecasts of roughly 80,000. The unemployment rate held steady at 4.3 percent, and March and April payrolls were revised higher by a combined 93,000. Average hourly earnings rose 0.3 percent month-over-month and were up 3.4 percent year-over-year, while labor force participation was 61.8 percent. Those stronger-than-expected gains and upward revisions make a near-term Federal Reserve rate cut less likely and signal continued labor-market resilience.

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