America’s labor market once again defied expectations in May, as new government data showed job creation surged far beyond Wall Street forecasts.
According to the Bureau of Labor Statistics (BLS), nonfarm payrolls rose by 172,000 for the month, more than double the Dow Jones estimate of just 80,000, while the unemployment rate held steady at a historically low 4.3%.
The report reflects an economy that remains far more resilient than many economists predicted earlier this year.
Despite rising borrowing costs and persistent ...
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