US adds 272,000 jobs in May, blowing past expectations
==========
The U.S. economy added 272,000 jobs in May, surpassing economists' expectations of 185,000 jobs. The unemployment rate rose slightly to 4 percent. This breaks the longest streak of sub-4 percent unemployment since the 1960s. The Federal Reserve is preparing to vote on interest rates next week, but hopes are low for rate cuts this month. The central bank has maintained rates at 5.25 to 5.5 percent since July 2023. Inflation, which peaked at 9.1 percent in June 2022, has fallen to 3.4 percent in April. However, as inflation remains above target, the central bank has held rates steady.
#UsEconomy #JobsReport #UnemploymentRate #FederalReserve #InterestRates #Inflation
https://thehill.com/business/4709515-us-adds-272000-jobs-in-may-blowing-past-expectations/
The Hill /
npub1uf9…wj43
2024-06-07 15:21:30
Author Public Key
npub1uf9ht809jfjawes35uqsxnj7hyjqsdyxypewh4d869swy74vldeq0vwj43Published at
2024-06-07 15:21:30Event JSON
{
"id": "1a987d21000798f1f08a72173e8bfb285febb662697b8c617237cff07e3d6ab5",
"pubkey": "e24b759de59265d76611a701034e5eb9240834862072ebd5a7d160e27aacfb72",
"created_at": 1717766490,
"kind": 1,
"tags": [],
"content": "US adds 272,000 jobs in May, blowing past expectations\n==========\n\nThe U.S. economy added 272,000 jobs in May, surpassing economists' expectations of 185,000 jobs. The unemployment rate rose slightly to 4 percent. This breaks the longest streak of sub-4 percent unemployment since the 1960s. The Federal Reserve is preparing to vote on interest rates next week, but hopes are low for rate cuts this month. The central bank has maintained rates at 5.25 to 5.5 percent since July 2023. Inflation, which peaked at 9.1 percent in June 2022, has fallen to 3.4 percent in April. However, as inflation remains above target, the central bank has held rates steady.\n\n#UsEconomy #JobsReport #UnemploymentRate #FederalReserve #InterestRates #Inflation\n\nhttps://thehill.com/business/4709515-us-adds-272000-jobs-in-may-blowing-past-expectations/",
"sig": "f74a48b6765749da617b4d49215a847efe3777116bf8939dcd23423f4201f9e3996fbf954e52b3e11f64971e6072d882186618588644ed036a7fc00ddd1d4566"
}