The US economy added 390,000 jobs in May, compared to expectations of an increase of 328,000 jobs, despite fears of an economic slowdown and a rising rate of inflation – according to the employment report released today (Friday) by the US Department of Labor.
Also, according to data from the US Department of Labor published at 3:30 PM Israel time, unemployment remained unchanged at 3.6%, the lowest rate since December 1969. Economists who participated in the Dow Jones survey expected an increase of 328,000 jobs and the unemployment rate would fall slightly to a level Of 3.5%.
The average hourly wage rose 0.3 percent, or 10 cents in May from April to $ 31.95, slightly lower than the estimate for a 0.4 percent increase. The increase in hourly wages on an annual basis has slowed from 5.5% to 5.2%, but it is still the sharpest annual wage increase since the early 1980s.