The US labour market delivered a pleasant surprise in May, showing more resilience than many economists expected.
According to Fox Business, the American economy added 172,000 jobs during the month, comfortably beating forecasts. The unemployment rate held steady at 4.3%, suggesting employers are still hiring despite concerns over inflation, global tensions and slowing growth.
The strongest gains came from leisure and hospitality, healthcare and local government jobs, helping to offset losses in sectors such as finance and information technology. Wage growth remained modest, rising 0.3% for the month.
The upbeat figures are likely to influence upcoming Federal Reserve decisions, with policymakers closely watching whether the economy can maintain its momentum in the months ahead.
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