U.S. employers added a robust 272,000 jobs in May, a sign of sustained economic health
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In May, U.S. employers added 272,000 jobs, indicating sustained economic health. The job gain suggests that the economy is still growing steadily, driven by consumer spending on travel, entertainment, and other service sectors. The unemployment rate edged up to 4% from 3.9%, ending a 27-month streak of unemployment below 4%. President Biden is likely to view this as a sign of the economy's robust health under his administration. Hourly wages also rose, which could contribute to stickier inflation. The Federal Reserve wants to see the economy cool down a bit before considering cutting their benchmark rate. Layoffs remain at historic lows, with just 1.5 million people losing jobs in April, the lowest monthly figure on record in 24 years. The job market has proven more durable than expected, but high prices remain a source of discontent for Americans.
#UsEmployers #Jobs #EconomicHealth #UnemploymentRate #ConsumerSpending #Inflation #FederalReserve #Layoffs
https://www.latimes.com/business/story/2024-06-07/us-employers-added-a-robust-272-000-jobs-in-may-in-a-sign-of-sustained-economic-health
Los Angeles Times /
npub1ka…ct50x
2024-06-07 15:19:30
Author Public Key
npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50xPublished at
2024-06-07 15:19:30Event JSON
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"content": "U.S. employers added a robust 272,000 jobs in May, a sign of sustained economic health\n==========\n\nIn May, U.S. employers added 272,000 jobs, indicating sustained economic health. The job gain suggests that the economy is still growing steadily, driven by consumer spending on travel, entertainment, and other service sectors. The unemployment rate edged up to 4% from 3.9%, ending a 27-month streak of unemployment below 4%. President Biden is likely to view this as a sign of the economy's robust health under his administration. Hourly wages also rose, which could contribute to stickier inflation. The Federal Reserve wants to see the economy cool down a bit before considering cutting their benchmark rate. Layoffs remain at historic lows, with just 1.5 million people losing jobs in April, the lowest monthly figure on record in 24 years. The job market has proven more durable than expected, but high prices remain a source of discontent for Americans.\n\n#UsEmployers #Jobs #EconomicHealth #UnemploymentRate #ConsumerSpending #Inflation #FederalReserve #Layoffs\n\nhttps://www.latimes.com/business/story/2024-06-07/us-employers-added-a-robust-272-000-jobs-in-may-in-a-sign-of-sustained-economic-health",
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