Non-farm employment in the USA was above expectations in May
While non-agricultural employment in the USA increased by 272 thousand people in May, exceeding expectations, the unemployment rate increased from 3.9 percent to 4 percent.
The US Department of Labor announced the employment report for May.
Accordingly, employment in non-agricultural sectors in the country increased by 272 thousand people in May. Non-agricultural employment data, which was above market expectations, was expected to increase by 180 thousand people.
The unemployment rate in the USA increased by 0.1 point to 4 percent in May. The unemployment rate, which was above market expectations, was expected to be 3.9 percent in this period. The unemployment rate was 3.9 percent in April.
During the said period, the average weekly working hours increased to 34.3, in line with expectations.
During this period, employment continued to increase in many sectors, especially healthcare, public, entertainment and accommodation, and professional, scientific and technical services.
The latest figures underscore a labor market that continues to defy expectations and blunt the impact of higher interest rates and prices on the economy.
Investors have lowered their odds on how much the Fed will cut interest rates this year. On the other hand, after the data, US stock futures and government bonds experienced losses, while the dollar strengthened.