Data: U.S. Department of Labor; Chart: Axios Visualsreleased on Friday: yes.The labor market is roaring, with employers once again adding way more payrolls than forecasters anticipated. Still, there are signs of softening trends that could suggest we're at a turning point.— the largest gain since January. Job gains in the previous two months were also stronger than initially thought, revised up by a combined 93,000.
A separate survey of households, however, shows employment declining. The unemployment rate rose from 3.4% to 3.7% — a notable monthly jump., for instance, hit an all-time low in April but jumped by nearly a full percentage point to 5.6% last month.The household survey has a larger margin of error and is more volatile month-to-month. Economists tend to lean more on the survey of businesses, which is considered more reliable, especially after revisions.
an interest rate hike at its upcoming policy meeting. The details of today's jobs report might not be strong enough to change their minds. Headline jobs growth looks hot — a sign of still-strong demand on the part of employers. But that wasn't accompanied by accelerating wage growth, which is more likely to stoke inflation.
Average hourly earnings rose 0.3% last month, slowing from the 0.4% pace in April. Notably, the share of prime-age workers employed or looking for work ticked up to 83.4% — the highest since January 2007.