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After a hugely disappointing April report, the US labor market’s recovery seems to be back on track, albeit not quite to the degree economists hoped.
The US economy added 559,000 nonfarm payrolls in May, the Bureau of Labor Statistics said Friday morning. Economists surveyed by Bloomberg held a median estimate of a 674,000-payroll gain. The reading shows a sharp acceleration from April’s dismal report, which saw job growth land well below economist forecasts.
The May increase marks a fifth straight month of job additions. The April payrolls count was revised to 278,000 from 266,000.
The unemployment rate details ⇒
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