(CercleFinance.com) – The American economy generated 272,000 non-agricultural jobs in May, according to the Department of Labor, a number well above market expectations which were generally around 180,000.
The unemployment rate, however, increased by 0.1 point to 4%, where economists expected stability at 3.9%, while the labor force participation rate stood at 62.5 %, and that average hourly income increased at an annual rate of 4.1%.
In addition, the creations of non-agricultural jobs for the previous two months were revised, from 315,000 to 310,000 for March and from 175,000 to 165,000 for April, for a total revision balance of -15,000 for these two months.
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