Employment Rose by 272,000 Jobs in May, Unemployment at 4%

Washington, DC, June 7, 2024-Total nonfarm payroll employment increased by 272,000 in May, and the unemployment rate changed little at 4.0%, the U.S. Bureau of Labor Statistics reported. 

Employment continued to trend up in several industries, led by healthcare; government; leisure and hospitality; and professional, scientific, and technical services.

Says the Wall Street Journal, “U.S. job growth burst past expectations last month but the unemployment rate edged up to 4%, presenting a mixed view of a labor market that has generally been cooling without overly troubling most workers.

“The unemployment rate edged up from April’s 3.9%, hitting 4% for the first time in more than two years.”