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The US economy added 75,000 non-farm jobs in May, the Bureau of Labor Statistics announced Friday. According to estimates by Bloomberg, this figure was below expectations for 175,000 non-farm additions.
The unemployment rate remained at 3.6%, its lowest level in 49 years, which is consistent with consensus estimates. Participation in the labor market also remained at 62.8%.
Average hourly earnings remained at 0.2% from one month to the next, compared with a slight increase to 0.3% of the pace of expected gains. Average hourly wages rose 3.1% over last year, while consensus economists were expecting a rate of 3.2% from April to May.
<p content = "The latest assessment of the US labor market is set against the backdrop of rising global trade tensions, some of which have been & nbsp;easing of economic data and speculation that the Federal Reserve is reluctant to reduce its benchmark interest rates. "data-reactid =" 18 "type =" text "> The latest assessment of the US labor market fits against the backdrop of increasing trade tensions, with some slowdown in economic data and speculation that the Federal Reserve is about to reduce benchmark interest rates.
<p content = "The latest assessment of the US labor market is set against the backdrop of rising global trade tensions, some of which have been & nbsp;easing of economic data and speculation that the Federal Reserve would hesitate to reduce benchmark interest rates. "data-reactid =" 18 "type =" text ">RELATED: Check out the best places to work in 2019, according to Glassdoor:
Prior to Friday's report, investors were looking for signs that one of the strongest parts of the US economy had held up despite the recent surge in global risks.
<p content = "Other recent data on the US labor market have been mixed Wednesday, & nbsp;ADP Research Institute and Moody's Analytics reported& nbsp; that the national economy added only 27,000 private jobs in May, well below the 185,000 new jobs expected and the lowest job creation rate since 2010. "data -Reactid = "20" type = "text"> Other recent ADP Research Institute and Moody's Analytics reported on Wednesday that the national economy had added only 27,000 private jobs in May, lying well below the 185,000 new jobs expected and posting the lowest employment growth rate since 2010.
<p content = "But other surveys suggest that the US labor market remains dynamic. & nbsp;Supply Management Institute Wednesday& nbsp; pointed to substantial employment gains in May in the US services sector. Thursday, the & nbsp;Department of Labor reported& nbsp; U.S. weekly jobless claims remained unchanged from the previous week and the four-week moving average closely monitored for initial jobless claims declined. "data-reactid =" 32 "type =" text "> But other surveys have suggested persistent strength in the US The Institute for Supply Management announced Wednesday substantial employment gains in the services in the United States on Thursday, indicating that weekly jobless claims in the United States remained unchanged from the previous week and that the four-week moving average under close supervision was being met for initial jobless claims declined .
<p content = "In addition, the & nbsp;Conference Board Labor Market Differential& nbsp; – indicator indicating the number of consumers claiming that many jobs minus the percentage indicating that it is difficult to find jobs – reached 36.3 in May, the highest figure recorded since December 2000. "data- In addition, the Conference Board differential on the labor market – an indicator reflecting the percentage of consumers saying jobs are plentiful minus the percentage indicating that jobs are hard to find – reached 36.3 in May, the highest level since December 2000.
<p content = "This post breaks. Come back for updates. "data-reactid =" 34 "type =" text ">This post breaks. Come back for updates.
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