?U.S. employers added 339,000 new jobs in May, far surpassing expectations, and the unemployment rate increased to 3.7 percent, according to the latest employment report from the U.S. Bureau of Labor Statistics. Most of the new jobs were reported in professional and business services, government and health care.
Hiring overall has slowed from last year’s pace but job gains have remained strong despite the Federal Reserve’s efforts to tackle inflation and slow the labor market through a series of interest rate increases.
The report noted that hourly wages were up .3 percent on the month. On a year-over-year basis, wages were up 4.3 percent.
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