The United State economy added 339,000 Thousand jobs last Month, a stronger increase than expected, despite the impact of higher interest rates.
Economists had expected around 190,000 new jobs, but instead hiring has accelerated in a potential boost to president Joe Biden, but a new headache for US Federal Reserve chief Jerome Powell as he tries to cool inflation.
Job gains occurred in professional and business services, government, health care, construction, transportation and warehousing, and social assistance, according to the latest report from the U.S. Bureau of Labor Statistics.
March’s Non-Farm Payroll has been revised higher too, by 52,000, from +165,000 to +217,000. April’s data has been revised up by 41,000, from +253,000 to +294,000.
However, the US unemployment rate has risen by 0.3% to 3.7%. The number of unemployed people rose by 440,000 to 6.1 million with more people out of work and looking for a job.
