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MNI BRIEF: US May Jobs Beat Expectations; Wage Growth Steady

(MNI) Washington
WASHINGTON (MNI)

Employers added 390,000 jobs, beating expectations for 325,000 but slowing from April's 436,000 pace.

U.S. employers added 390,000 jobs in May, more than analyst expectations for 325,000 but slowing from April's 436,000 pace, while the unemployment rate held steady at 3.6%, the Bureau of Labor Statistics reported Friday.

Average hourly earnings grew 0.3% last month, a tenth below expectations, and flat from April's rate. It's up 5.2% on the year. Federal Reserve officials are looking for wage gains to slow as they raise interest rates.

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U.S. employers added 390,000 jobs in May, more than analyst expectations for 325,000 but slowing from April's 436,000 pace, while the unemployment rate held steady at 3.6%, the Bureau of Labor Statistics reported Friday.

Average hourly earnings grew 0.3% last month, a tenth below expectations, and flat from April's rate. It's up 5.2% on the year. Federal Reserve officials are looking for wage gains to slow as they raise interest rates.

Keep reading...Show less