US Added 272,000 Jobs in May, Beating Expectations

BLS also reported a 4.0% unemployment rate for May, slightly higher than April’s 3.9%, representing about 6.6 million unemployed people. The number of long-term unemployed — those jobless for 27 weeks or more — was 1.4 million. Meanwhile, average hourly earnings rose 0.4% in May to $34.91, outpacing April’s 0.3% monthly inflation.Economists had expected a slowdown in job creation.

“It’s hard not to like a lot of jobs, and this report was well above what I expected, and I think just about what everyone expected,” Dean Baker, an economist who...U.S. job growth accelerated again in May, defying expectations for a slowdown, even as the unemployment rate rose to the highest level in more than two years.

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