U.S. economy adds 390,000 jobs in May, jobless rate steady at 3.6%

The U.S. economy created 390,000 nonfarm jobs in May, while the unemployment rate remained unchanged from the previous month at 3.6 percent, the Labor Department said Friday.

Growth in nonfarm payrolls exceeded the market consensus of an increase of 325,000. The unemployment rate has stayed at 3.6 percent for three consecutive months, the lowest level since the coronavirus pandemic accelerated in March 2020.

The department revised upward the nonfarm payrolls growth reported for April from 428,000 to 436,000 and revised downward that in March from 428,000 to 398,000.

In May, private industry generated 333,000 jobs, while the government created 57,000 jobs, according to the department.

Employment in leisure and hospitality increased by 84,000, as growth continued in food services and drinking places and accommodation, the department said.

Other notable job gains were seen in professional and business services, and in transportation and warehousing. Retail trade saw a decline of 60,700 jobs.

Hourly pay in the private sector, a key factor behind consumer spending, averaged $31.95, up from $31.85 the previous month.

© Kyodo News