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May job creation beats expectations

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May job creation beats expectations

Job creation improves, but still less-than-robust; unemployment rate increases to 5.5%.

Total nonfarm payroll employment rose by 280,000 in May, and the unemployment rate increased slightly to 5.5%, the U.S. Bureau of Labor Statistics reported today.

Consensus estimates had expected an increase of 225,000 new jobs.

"Consensus estimates had expected an increase of 225,000 new jobs."

The historically low employment participation rate increased slightly to 62.9%.

The number of unemployed persons was largely unchanged in May, coming in at 8.7 million.


In May, average hourly earnings for all employees on private nonfarm payrolls increased 8 cents to $24.96. Over the year, average hourly earnings have risen by 2.3%. 

The full report can be found here.

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